London – The market for aliphatic and aromatic polyester polyols is likely to grow over the next five years, and by the end of that time demand for aliphatic polyols will still comfortably outstrip that for aromatic polyester polyols.
IAL said that: demand for aromatic polyester polyols continues to expand, driven by legislation which is increasing the insulation required in buildings. This is feeding through to flexible-faced PIR panels and spray foam.
The total market for aromatic polyester polyols was estimated at 718kT in 2015, according to IAL. The group adds that Europe accounted for 29% of that demand and the US 31% in 2015.
The market for aromatic polyester polyols is likely to grow at 4.2% CAGR over the next five years.
IAL said that the market for aliphatic polyester polyols is dominated by demand from Chinese end users in the elastomer segment. This will continue to be the dominant sector despite growth slowing in China as OEMs move manufacturing to other lower cost countries in the Asia-Pacific region.
Overall aliphatic polyester polyols will grow by 5%/year CAGR over the next five years from 1.7m tonne/year demand in 2015, according to IAL Consultants
Microcellular shoe soles are the largest use in Asia Pacific and this sector is growing faster than “stagnant” markets in Europe and North America, IAL said.
IAL suggests that in Europe and North America, flexible packaging adhesives will provide a good market for aliphatic polyols and “exhibit strong growth in years to come.”