London - IAL Consultants said the global aromatic polyester polyol market is expected to grow by an average 4.4% annually over the next five years, with the fastest growth taking place in Asia, particularly China.
This is according to IAL's new report 'An overview of the global market for polyester polyols', which features data on the consumption of both aliphatic and aromatic polyester polyols in 2012 and forecast consumption for 2017, split by the three major geographic regions: Americas, EMEA and Asia-Pacific.
The data for aromatic polyester polyols is split into ten end-use categories, including flexible-faced panels, rigid-faced panels, refrigeration, pipe-in-pipe installation, coatings, elastomers, and adhesive & sealants.
The demand for aromatics has continued to grow in recent years, despite the challenging economic conditions, IAL said. It estimated the total market at 584 190 tonnes in 2012. Western Europe and North America represent the largest markets, 36% and 39% global markets, respectively. These are driven by the increasing demand for high-quality thermal insulation, in particular flexible-faced polyisocyanurate panels, IAL said.
The market for aliphatic polyester polyols is divided into four end-use categories: flexible polyester slabstock foam, elastomers, paints & coatings, and adhesives & sealants. IAL said this market is dominated by the future demand from Chinese end-users for elastomer coatings applications. Footwear elastomers, primarily microcellular soles, represent the largest and-use application for aliphatics.
The total market was estimated at roughly 1.5 million tonnes in 2012, with China accounting for a reported 53% of total command. The market is expected to grow by 8% annually over the next five years, with most growth present in Asia, IAL said in the report.
An Overview of the Global Market for Polyester Polyols is now available from IAL Consultants, priced at €3500 ($4570) for the two volumes or €2000 for a single volume.