IMARC Group’s report titled “India Polyols Market Report by Type (Polyether Polyols, Polyester Polyols), Application (Flexible Polyurethane Foams, Rigid Polyurethane Foams, CASE (Coatings, Adhesives, Sealants & Elastomers), and Others), Industry (Carpet Backing, Packaging, Furniture, Automotive, Building & Construction, Electronics, Footwear, and Others), and Region 2024-2032.” The India polyols market size reached 454.3 Kilo Tons in 2023. Looking forward, IMARC Group expects the market to reach 824.7 Kilo Tons by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
Polyols are essential chemical compounds used in various industries, particularly in the production of polyurethane foams and coatings. They are a type of alcohol compound that contains multiple hydroxyl groups. They are primarily derived from natural or synthetic sources and have a wide range of applications due to their versatility and properties. They play a crucial role in the production of polyurethane coatings, adhesives, sealants, and elastomers. They are extensively used as a key component in the production of flexible and rigid polyurethane foams, which find applications in insulation, furniture, automotive, and construction industries. At present, due to the growing demand for sustainable and energy-efficient solutions, the demand for polyols has significantly increased, making them a vital ingredient in the manufacturing sector in India.
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India Polyols Market Market Trends and Drivers:
The thriving construction and infrastructure sectors in India are catalyzing the demand for polyurethane foams and coatings, which represents one of the key factors supportin the growth of the market. In addition, polyurethane foams are extensively used in insulation applications to enhance energy efficiency in buildings and reduce carbon emissions in the country. Besides this, the rapid urbanization and increasing disposable incomes are propelling the demand for furniture and automotive vehicles, which rely on polyurethane foams for comfort and durability. This, in turn, is bolstering the growth of the market in India. Moreover, the growing demand for eco-friendly polyols on account of the rising awareness about environmental sustainability and energy conservation is offering a favorable market outlook. Furthermore, key manufacturers in India are increasingly focusing on the development of bio-based polyols derived from renewable sources, such as vegetable oils and biomass.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Polyether Polyols
- Polyester Polyols
Breakup by Application:
- Flexible Polyurethane Foams
- Rigid Polyurethane Foams
- CASE (Coatings, Adhesives, Sealants & Elastomers)
- Others
Breakup by Industry:
- Carpet Backing
- Packaging
- Furniture
- Automotive
- Building & Construction
- Electronics
- Footwear
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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