세계 폴리올 시장 규모는 2024년 295억 달러에 달했습니다. IMARC Group은 향후 이 시장이 2033년까지 469억 달러에 달할 것으로 예상하며, 2025-2033년 동안 5.24%의 CAGR을 기록할 것으로 예측했습니다. 현재 아시아태평양이 시장을 독점하고 있으며, 2024년에는 44.3% 이상의 큰 시장 점유율을 차지했습니다. 이 지역 시장을 이끄는 주요 요인은 특히 건설 부문에서 에너지 효율이 높은 건축자재에 대한 수요가 증가하고 있다는 점입니다.
폴리올 시장의 주요 촉진요인 중 하나는 특히 건설 부문에서 에너지 효율이 높은 건축자재에 대한 수요 증가입니다. 폴리올은 폴리우레탄 단열폼의 주성분으로 단열성 향상, 에너지 소비 감소, 지속가능한 시공 방법 지원에 중요한 역할을 하고 있습니다. 그린 빌딩 인증과 에너지 절약 기준에 대한 관심이 높아지면서 폴리올 기반 솔루션의 보급이 확산되고 있습니다. 또한, 세계 도시화 및 인프라 개발 추세는 고급 단열재에 대한 큰 수요를 창출하고 폴리올이 현대 건축 및 환경 효율성 요구 사항을 충족시키는 데 필수적인 요소로 확고히 자리 매김하고 있습니다. 예를 들어, 2024년 폴리올의 주요 공급업체인 다우(Dow)는 연포장용 라미네이팅 접착제 사업을 아르케마(Arkema)에 5곳의 생산기지를 포함해 1억 5,000만 달러에 매각했습니다.
미국은 폴리올의 주요 시장으로, 강력한 화학 제조 기반, 기술 혁신, 지속가능성에 대한 욕구 증가의 영향을 받고 있습니다. 미국에 본사를 둔 이 회사는 다양한 산업 분야에서 빠르게 증가하는 지속가능한 제품에 대한 수요를 충족시키기 위해 기존 및 바이오 기반 폴리올을 개발하는 선도적인 기업입니다. 강력한 연구개발력을 바탕으로 건축, 자동차, 가구 등 다양한 용도의 고성능 폴리올을 제공하고 있습니다. 또한, 미국은 환경 컴플라이언스에 중점을 두어 폴리올 생산의 친환경적인 거점으로 자리매김하고 있습니다. 예를 들어, 2024년 JLR, 다우 모빌리티 사이언스, 아디엔트는 폴리우레탄 시트 폼을 새로운 자동차 시트에 재활용하여 시트 한 장당 44kg의 CO2 배출량을 줄여 배출량을 절반으로 줄이는 획기적인 성과를 달성했습니다. 전략적 수출과 확립된 국내 공급망이 미국 폴리올 시장에 대한 기여도를 높이고 있습니다.
바이오 기반 폴리올에 대한 수요 증가
현재 이산화탄소 배출량과 오염 발생을 줄이기 위해 바이오 기반 폴리올 생산에 많은 관심이 집중되고 있습니다. 2024년 세계 탄소수지에 따르면, 화석연료 사용으로 인한 CO2 배출량은 2024년 0.8% 증가하여 사상 최고치인 37.4GtCO2에 달할 것으로 예상됩니다. 이는 지난해 기록했던 이전보다 0.4GtCO2가 증가한 수치입니다. 바이오 기반 폴리올은 유채유 등 식물성 기름을 원료로 합니다. 또한, 모든 카르복실기를 환원시키는 특수 공정을 통해 제조되어 주요, 특히 고품질 폴리올을 생산합니다. 대부분 재생 가능 자원 기술을 사용하여 제조되며, 우수한 성능과 높은 재생 가능 성분을 제공하여 원치 않는 냄새를 제거하고 다양한 산업 수요에 대응하는 데 도움을 주고 있습니다. 또한, 각국의 행정기관은 재생 가능한 자원의 채택을 촉진하고 산업 공정이 환경에 미치는 영향을 줄이기 위해 엄격한 규제를 제정하고 있습니다. 또한, 바이오 기반 폴리올을 사용하는 기업에 세액공제, 보조금, 보조금 등의 형태로 인센티브를 제공하고 있습니다. 또한, 바이오 기반 폴리올은 지속가능성이 높고 환경 친화적인 제품이기 때문에 바이오 기반 폴리올에 대한 수요가 증가하고 있습니다. 바이오 기반 폴리올은 석유 기반 폴리올과 동등하거나 그 이상의 성능을 가지고 있습니다. 폴리우레탄 폼, 코팅제, 접착제, 엘라스토머 등 다양한 용도에 적합한 광범위한 기능성을 제공하며, 특정 요구사항에 맞게 배합할 수 있습니다.
포장 산업에서의 활용도 증가
환경에 대한 관심 증가와 규제 압력은 폴리올의 성장 원동력이 되고 있으며, 수요는 날로 증가하고 있습니다. McKinsey에 따르면, 소비자의 60-70%는 지속가능한 포장에 더 많은 비용을 지불할 의향이 있다고 밝혔습니다. 폴리올은 폴리우레탄 폼과 코팅에 광범위하게 사용되며, 매우 유연하고 오래 지속되며 내습성이 뛰어납니다. 또한, 폴리올을 사용한 포장재는 보관 및 운송 시 보호성을 높여 많은 신선식품의 보존성을 향상시킵니다. 폴리우레탄 폼과 폴리우레탄 코팅은 취급 및 운송 중 파손을 방지하고, 높은 쿠션과 충격 흡수 특성을 제공합니다. 또한, 폴리올 기반 소재는 온도 변화에 대한 단열성을 제공하여 식품 및 의약품의 신선도 및 품질 확보에 도움을 줄 수 있습니다. 편리하고 지속가능한 포장 솔루션에 대한 요구가 증가함에 따라 제품의 무결성과 안전성을 보장하면서 이러한 요구를 충족시키기 위해 폴리올 기반 소재에 대한 포장 업계의 관심이 높아지고 있습니다.
첨단 폴리우레탄 개발
고급 폴리우레탄은 우수한 성능 특성을 제공하기 위해 제조됩니다. 혁신적인 배합으로 구성되어 있으며, 각 산업의 요구에 따라 조정할 수 있습니다. 압축과 인장 모두에서 높은 하중을 견딜 수 있습니다. 고급 폴리우레탄은 무거운 하중이 가해지면 모양이 변할 수 있지만, 하중이 제거된 후에는 압축을 최소화하여 빠르게 원래의 모양으로 돌아갈 수 있습니다. 또한, 폴리우레탄은 고굴곡 용도에 사용될 때에도 효과적으로 기능하며, 효율적인 인장 특성과 함께 높은 인열 저항성을 가지고 있습니다. 또한, 제조 공정의 발전으로 배출량 감소, 에너지 소비 감소, 자원 효율성 향상을 실현한 폴리우레탄 생산이 가능해졌습니다. 예를 들어, 2024년 BASF는 슈톡마이어 우레탄 USA와 제휴하여 100% 국산 바이오매스 밸런스(BMB) 루플라네이트 MDI를 이용한 놀이기구 표면 처리용 폴리우레탄 바인더 Stobielast S를 생산하고 있습니다. 이러한 환경 친화적인 특성으로 인해 첨단 폴리우레탄은 지속가능한 솔루션을 찾는 산업과 사람들에게 매력적인 소재가 되고 있습니다. 첨단 폴리우레탄은 자가복원성, 형상기억성, 항균성, 센싱 기능 등의 기능성을 가진 제품이 증가하고 있으며, 헬스케어, 전자, 섬유 등 다양한 분야로의 응용 가능성을 넓혀가고 있습니다.
The global polyols market size was valued at USD 29.5 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 46.9 Billion by 2033, exhibiting a CAGR of 5.24% during 2025-2033. Asia-Pacific currently dominates the market, holding a significant market share of over 44.3% in 2024. A key factor driving the regional market is the growing demand for energy-efficient building materials, especially within the construction sector.
One of the major drivers of the polyols market is the rising demand for energy-efficient building materials, particularly in the construction sector. Polyols, as key components in polyurethane insulation foams, play a crucial role in enhancing thermal insulation, reducing energy consumption, and supporting sustainable construction practices. The increasing focus on green building certifications and energy-saving standards enhances the uptake of polyols-based solutions. Additionally, the growing trend toward urbanization and infrastructural development worldwide creates significant demand for advanced insulating materials, solidifying polyols as indispensable in meeting modern construction and environmental efficiency requirements. For instance, in 2024, Dow, a leading polyols supplier, sold its flexible packaging laminating adhesives business, including five manufacturing sites, to Arkema for $150 million, encompassing solvent-based, solventless adhesives, and heat seal coatings.
The United States is a key market for polyols, and the market is influenced by the strong chemical manufacturing base in the country, innovation, and the increasing desire for sustainability. U.S.-based companies are major players in the development of conventional and bio-based polyols to meet the fast-growing demand for sustainable products across various industries. Its strong R&D capabilities ensure high-performance polyols for diverse applications in the construction, automotive, and furniture sectors. In addition, a strong focus on environmental compliance has positioned the U.S. as an eco-friendly hub for producing polyols. For instance, in 2024, JLR, Dow MobilityScience, and Adient achieved a breakthrough by recycling polyurethane seat foam into new car seats, reducing CO2 emissions by 44kg per seat, and cutting emissions by half. Strategic exportation and a well-established domestic supply chain add much to the contribution of U.S. to the polyols market in the globe.
Rising demand for bio-based polyols
At present, there is a focus on the production of bio-based polyols to reduce the carbon footprint and occurrence of pollution. According to the 2024 global carbon budget, CO2 emissions from fossil fuel use are expected to increase by 0.8% in 2024, reaching a record 37.4GtCO2. This marks an increase of 0.4GtCO2 over the previous record set last year. Bio-based polyols are sourced from plant oils, such as rapeseed oil. They are also manufactured by following a special process where a reduction of all carboxyl groups creates primary and particularly high-quality polyols. They are often manufactured using renewable resource technologies, helping to eliminate unwanted odors and address the demands of various industries by providing excellent performance and high levels of renewable content. In addition, governing agencies of various countries are enacting stringent regulations to help promote the adoption of renewable resources and reduce the environmental impact of industrial processes. They are also giving incentives in the form of tax credits, grants, and subsidies to the business houses using bio-based polyols. Besides, it is a highly sustainable and environmental-friendly product, which is boosting demand for bio-based polyols. Bio-based polyols possess similar or even superior performance properties than their petroleum-based counterparts. They can be formulated to meet specific requirements, providing a wide range of functionalities suitable for various applications such as polyurethane foams, coatings, adhesives, and elastomers.
Increasing utilization in the packaging industry
The growing concern for environment and regulatory pressure is a driving factor for polyols growth as demand is increasing day by day. As per McKinsey, 60% to 70% of consumers expressed a readiness to pay more for sustainable packaging. Polyols find a wide usage in polyurethane foam and coating, which can be extremely flexible, long-lasting and moisture-resistant. In addition, polyols-based packaging materials improve the shelf life of many perishable products by providing better protection in storage and transportation. Polyurethane foams and coatings allow for good cushioning shock absorption properties preventing damaged items during handling and shipping. It is also possible for materials based on polyols to provide insulation against temperature shifts, helping ensure the freshness and quality of food and pharmaceutical products. The increasing demand for convenient and sustainable packaging solutions is driving the interest of the packaging industry toward polyols-based materials to fulfill these requirements while ensuring the integrity and safety of products.
Development of advanced polyurethanes
Advanced polyurethanes are manufactured to offer superior performance properties. They comprise innovative formulations and can be tailored according to the requirements of industries. They have a high load capacity in both compression and tension. Advanced polyurethanes may undergo a change in shape under a heavy weight but can immediately return to their original shape after the load is removed with minimum compression set in the material. They can also function effectively when used in high-flex applications and possess high tear resistance along with efficient tensile properties. Additionally, advancements in manufacturing processes enable the production of polyurethanes with reduced emissions, lower energy consumption, and improved resource efficiency. For instance, in 2024, BASF has partnered with STOCKMEIER Urethanes USA, Inc. to produce Stobielast S polyurethane binders for playground surfacing, utilizing 100% domestically produced Biomass Balance (BMB) Lupranate MDI. These eco-friendly attributes make advanced polyurethanes attractive to industries and people seeking sustainable solutions. Advanced polyurethanes are increasingly getting incorporated with functionalities, such as self-healing, shape memory, antimicrobial activity, and sensing capabilities, to expand their application potential using diverse fields, including healthcare electronics and textiles.
Polyether polyols stand as the largest type in 2024, holding around 27.9% of the market. Polyether polyols hold the biggest polyols market share. They are a kind of synthetic oil and are made from ethylene oxide, epoxy propane, epoxy butane, and various other raw materials. They are manufactured by the process of open ring homopolymerisation or copolymerization under the function of a catalyst. They are widely used for the preparation of synthetic detergents with low foaming features. They also have low toxicity and are often employed as drug excipients and emulsifiers, which are often used in oral and nasal sprays and shampoos. They can be used as demulsifiers for crude oil to prevent the formation of hard scales in oil pipelines. Moreover, polyether polyols are utilized as a papermaking additive and bleaching agent to improve the quality of various coated papers. Polyester polyols are the derivatives of dicarboxylic acids and polyols. They are primarily synthesized from petroleum but can also be manufactured from various types of plant-based oils. Their viscosity generally increases with their molecular weights, and they can impart various properties, including water resistance, abrasion resistance, and cut resistance.
Flexible polyurethane foams lead the market with around 32.2% of the market share in 2024. Flexible polyurethane foams are the most prominent segment due to their versatility in mattress, pillow, furniture cushion, and car seat manufacturing. These foams are soft and resilient and can be molded to conform to the shape of the body to distribute weight and ease pressure points. Flexible polyurethane foams also show endurance and resilience to repeated compression, thereby ensuring long-term performance. Due to their excellent comfort, support, and durability properties, flexible polyurethane foams remain a number one favorite for manufacturers and consumers across diverse industries.
Packaging leads the market in 2024. Packaging represents the biggest market share owing to the rising utilization of polyols for making flexible packaging solutions. Polyols improve the adhesion properties in packaging materials, making them less prone to cracking or breaking during transportation and handling. They are also compatible with various materials like plastic, silicone, paper, and metals. This versatility allows them to be incorporated into different types of packaging solutions. Polyols have hygroscopic properties, meaning they can absorb and retain moisture. This property is valuable in packaging applications where moisture control is crucial, such as pharmaceuticals, food, and electronic components. By keeping products dry, polyols help maintain their quality and shelf life.
In 2024, Asia-Pacific accounted for the largest market share of over 44.3%. The Asia Pacific polyols market is being driven by the growing adoption of flexible packaging solutions across various industry sectors. The region is witnessing a rise in partnerships and collaborations between automakers and polyol and polyurethane foam manufacturers, fostering innovation and local production of customized and ergonomic car seats. Stringent emissions regulations in China and other countries are encouraging the production of bio-based polyols. Moreover, the construction industry in Asia Pacific is a major consumer of polyols, utilizing them in the production of insulation materials and adhesives. The growing population and urbanization in countries like India and China are driving the demand for sustainable construction materials, thereby propelling the growth of the polyols market in the region. Additionally, the rising disposable income levels in emerging economies are fueling the demand for consumer goods, such as furniture and electronics, further boosting the market for polyols. With favorable government policies and increasing investments in research and development, the Asia Pacific polyols market is expected to continue its growth trajectory in the coming years. In conclusion, the region's diverse industrial landscape and focus on sustainable solutions make it a key player in the global polyols market.
United States Polyols Market Analysis
US accounts for 83.8% of the market share in North America. The increasing demand for polyols, particularly sorbitol, xylitol, and erythritol, is being driven by health-conscious consumers residing across the United States who are seeking lower-calorie alternatives in the food and beverage industry. These polyols are gaining popularity as they are helping in weight management and blood sugar control. According to the International Diabetes Federation (IDF), in 2021, 237,306,100 adults were affected with diabetes across the region. Moreover, the prevalence rate of diabetes among adults were 13.6%. In line with this, polyols, particularly glycerin, act as humectants, helping to bind water within the skin, thereby promoting hydration. Therefore, this is used in several types of skin care products across the United States. Additionally, polyols are essential in the production of polyurethanes across the region, which are used in the automotive industry. According to the International Trade Administration (ITA), in 2020, the United States recorded light vehicle sales totaling 14.5 Million units.
North America Polyols Market Analysis
The steady growth of the North America polyols market is observed in such growing demands by the construction, automobile, and furniture industries. Polyols are important parts in polyurethane manufacturing, used in a vast array of applications that range from flexible and rigid foams to coatings, adhesives, and sealants. The construction industry growth has supported rigid polyurethane foam due to its insulating properties. On the other hand, flexible foam is used more by the automotive industry to develop light, energy-efficient vehicles. For example, as per industry reports, the U.S. biomass technology roadmap outlines a goal to replace 25% of petroleum-based organic compounds with biobased alternatives by 2030, which will include renewable and degradable vegetable oil-based polyols for polyurethane foam production. The increasing interest in sustainable solutions is driving the adoption of bio-based polyols, which aligns with regulatory and consumer preferences for eco-friendly materials. Major players focus on innovation and capacity expansion. With robust industrial activity and advancements in polyurethane technologies, the North America polyols market is positioned for sustained expansion.
Asia Pacific Polyols Market Analysis
The rising middle class and health-conscious consumers are significantly driving the demand for sugar-free and low-calorie products across the region, increasing the use of polyols like sorbitol and xylitol in the food and beverage industry. According to the India Brand Equity Foundation (IBEF), wealthy households of India are earning over ₹2 crore (around USD 242,709) per year. This increased from USD 1.06 Million in 2016 to 1.8 Million in 2021.In line with this, the increasing use of polyols as excipients in drug formulations is addressing the growing healthcare needs of the large and expanding population in the Asia-Pacific region. According to the India Brand Equity Foundation (IBEF), the Indian pharmaceutical industry is currently experiencing a compound annual growth rate (CAGR) of 6-8% from FY18 to FY23, driven by an ongoing 8% increase in exports and a 6% rise in the domestic market.
Europe Polyols Market Analysis
The increasing use of polyols in the manufacturing of polyurethane foams across the European region is driving their application in the automotive sector for seating, insulation, and soundproofing materials. According to the Office for National Statistics, in 2018, motor vehicle manufacturing firms in the United Kingdom directly employed over 169,000 individuals, accounting for 0.5% of the total workforce. In addition to this, the construction industry is increasingly using polyurethane-based insulation materials, derived from polyols, for thermal insulation. According to the European Commission, the construction sector generates approximately 18 Million direct jobs and accounts for around 9% of the European Union's GDP. Furthermore, the rising demand for diabetic-friendly and low-sugar food options are stimulating the increasing use of polyols as sugar alcohols in sugar-free and low-calorie products. In line with this, polyols are being incorporated into drug formulations, especially as excipients, stabilizers, and sweeteners in products like syrups and chewable tablets.
Latin America Polyols Market Analysis
Polyols, particularly glycerin, are being used in cosmetics, especially in moisturizers, shampoos, and conditioners, due to their moisturizing properties. In addition to this, consumer awareness of health and wellness is increasing, stimulating the rising demand for low-calorie sweeteners and sugar substitutes, particularly sorbitol and mannitol, across the Latin American region. According to the International Diabetes Federation (IDF), in 2021, 149,916,800 adults were affected with diabetes across Brazil. In line with this, the prevalence rate of diabetes among adults were 10.5%.
Middle East and Africa Polyols Market Analysis
The demand for low-calorie and low-sugar foods is driving the use of polyols like sorbitol and mannitol in sugar-free and diabetic-friendly food products, particularly in the Middle East. According to the International Diabetes Federation (IDF), in 2021, 8,057,100 adults were affected with diabetes across the United Arab Emirates. In line with this, the prevalence rate of diabetes among adults were 12.3%. Additionally, according to the International Diabetes Federation (IDF), in 2021, 24,194,300 adults were affected with diabetes across Saudi Arabia.
The polyols market has shown a competitive landscape with huge international giants and emerging regional manufacturing firms. Industry leaders tend to upgrade their production volumes, move towards bio-based polyol production, and widen the variety of products according to developing sustainability demands. Strategic collaborations, mergers, and acquisitions take place in frequent sequences which help to acquire improved and stronger market positions and enhance global reach in terms of market. Technological change in producing processes and innovative product intensifies competition. Key players are also prioritizing investments in R&D to create high-performance polyols tailored for specific applications. This competitive environment fosters continual innovation and positions the market for sustainable growth in a wide array of industries. For instance, in 2024, BASF partnered with Carlisle Construction Materials to produce MDI-based polyiso boards and polyurethane foam using Lupranate ZERO, the first zero-carbon-footprint isocyanate, revolutionizing sustainable building insulation.