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Polyols market to reach $22.49 billion by 2031, MarketsandMarkets says

Polyols market to reach $22.49 billion by 2031, MarketsandMarkets says

MarketsandMarkets projects 5.1% annual growth from 2026, with Asia-Pacific leading demand as polyurethane use rises across construction, automotive, furniture and electronics.

Fact Check
Both the PR Newswire press release and the originating MarketsandMarkets press release confirm the exact figures and drivers in the claim: market reaching USD 0.53 billion (i.e., $530 million) by 2031, CAGR 9.6% from 2026, Asia-Pacific leading, and EV/automotive, wind energy, and aerospace as growth drivers. The claim faithfully paraphrases the source; the only minor rounding is '$530 million' for '$0.53 billion', which is equivalent.
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Summary

The global polyols market is projected to grow from $17.53 billion in 2026 to $22.49 billion by 2031, a 5.1% compound annual growth rate, according to a MarketsandMarkets report. The study says demand is being driven by rising consumption of polyurethane products in construction, automotive, furniture and electronics, alongside growth in energy-efficient insulation materials, lightweight vehicle materials and high-performance coatings. Asia-Pacific held a 45.3% share of the market by value in 2025 and is expected to remain the leading regional market, supported by industrialization, urbanization and infrastructure development. Polyether polyols are expected to lead by type with a 73.8% share in 2025, while flexible polyurethane foam was the largest application segment and building and construction the top end-use industry, accounting for a 28.7% share in 2025. Europe ranked as the second-largest regional market, automotive was the second-largest end-use segment, and polyester polyols held the second-largest share by type. MarketsandMarkets names Dow, Covestro AG, BASF SE, Huntsman International LLC, Shell, Stepan Company and Wanhua Chemical Group among leading players.

Terms & Concepts
  • Polyols: Chemical feedstocks used to make polyurethanes and related products such as foams, coatings, adhesives and elastomers.
  • Polyether polyols: A major class of polyols widely used in polyurethane production, especially in flexible and rigid foam applications.
  • Flexible polyurethane foam: A soft, cushioning foam used in products such as furniture, bedding, automotive seating and packaging.