North America Polyols Market To Reach $8.11 Billion By 2030

North America Polyols Market Growth & Trends

The North America polyols market size is projected to reach USD 8.11 billion by 2030, expanding at a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand for insulation from various end-use industries such as automotive, construction, and home appliances is expected to drive consumption.

The rigid foam application segment accounted for a significant volume share in 2018. The organic compound is used to make rigid foam that offers sound insulation properties, mechanical strength, and thermal resistance. Such rigid foams can survive extreme weather conditions. In addition, it is used to formulate polyurethane adhesives and sealants. Such adhesives and sealants are used in automotive interiors, footwear, construction, and textile lamination applications.

North America is the largest consumer of trim foam, accounting for over 50% of the global market share. The rise in usage of bio-based and green polyols in manufacturing of trim foams is expected to play a major role in driving future consumption. With the green revolution and companies switching to environmentally friendly alternatives, manufacturers have also been investing in the development of bio-based and natural oil-based polyols. The trade tensions between China and U.S. have altered the scenario of polyols in North America and manufacturers have been focusing on production capacity expansions to cater to the growing product demand.

The U.S. is the largest consumer of the product owing to rising demand for polyurethane systems in the construction and automotive industries. The furniture and bedding industry, which is a major consumer of PU foam, has been growing steadily owing to a positive uptick in the housing sector. The implementation of stringent green building regulations, with an enhanced focus on materials, is expected to positively impact the market. The demand for green and bio-based polyols is expected to grow rapidly over the forecast period.

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North America Polyols Market Report Highlights

•  Polyether polyols dominated the market and accounted for the largest revenue share of 75.7% in 2023

• Polyester polyols are expected to witness a volume-based CAGR of 4.6% over the forecast period due to rising application in the insulation industry

• The flexible foam application dominated the market with a market share of 33.7% in 2023 and the coating applications are expected to grow significantly over the forecast period

• The polyols market in the U.S. dominated the North American market with a revenue share of 75.7% in 2023 attributed to the expanding construction and automotive industries

• Key participants in the North America polyols market include Vertellus Specialties, Inc.; Stepan Company; Invista B.V; Mitsui Chemicals, Inc.; DowDuPont Inc.; and BASF SE.

North America Polyols Market Segmentation

Grand View Research has segmented the global North America polyols market report based on product, application, and region:

North America Polyols Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Polyether polyols

• Polyester polyols

North America Polyols Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Rigid foam

• Flexible foam

• Coatings

• Adhesives & sealants

• Elastomers

• Others

North America Polyols Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

List of Key Players of North America Polyols Market

• Dow

• Shell

• Huntsman International LLC.

• Arkema

• Sanyo Chemical America Incorporated.

• Repsol

• BASF

• Everchem Specialty Chemicals.

• Honeywell International Inc.

• Mitsui Chemicals, Inc.

• ADM

• Covestro AG