Published on : Jun 03, 2016
The global market for graft polyols has been witnessing immense growth since the last few years. The rapid rise in the market for flexible polyurethane foams has greatly influenced the demand for graft polyols in the global arena in the recent times. The rising demand for natural oil-based graft polyols in the medical and healthcare sector is likely to cater for a massive upsurge in the worldwide graft polyols market in the coming years.
Asia Pacific Leads Global Graft Polyols Market
The market is spread across North America, Asia Pacific, Europe, and the Rest of the World. Among these, Asia Pacific has emerged as the market leader. Here is a snapshot of how the market is performing in these regions.
- Asia Pacific held a share of more than 45% in the overall market in 2014. The increasing disposable income of people in this region, coupled with the growth in the economy, has boosted the markets for automotive and furniture in Asia Pacific over the past few years, fueling the demand for graft polyols significantly. Analysts predict the Asia Pacific market for graft polyols to return its leadership in the coming years.
- Europe has emerged second in the global market for graft polyols. Italy, Germany, and the U.K. are the key domestic markets for graft polyols in this region. The augmenting demand for high resistant foams in carpets, cushions, automotive seating, and protective packaging has driven the market for graft polyols in Europe.
- North America graft polyols market has experienced significant growth in market share in the recent times. The U.S. leads the market for graft polyols in this region.
Some of the major companies in the global market for graft polyols is China Petroleum & Chemical Corp., Oltchim S.A., The Dow Chemical Co., BASF SE, Jilin Shenhua Group Co. Ltd., and Royal Dutch Shell Plc.