Polyol demand in India is projected to grow with a healthy CAGR of 5.05% for the forecast period. Polyols are an important group of functional resin which are used in the manufacturing of a large number of products. Polyols are used as a raw material for polyurethane manufacturing. The growing construction and automotive sector will have a higher consumption of Polyurethanes, thus driving the polyol demand.
There are mainly two kinds of Polyols, Polyether Polyol and Polyester Polyol, among which Polyether Polyol is the most demanded as it is used in the manufacture of Polyurethane foams. Subsequently, increasing demand for Polyol is majorly dependent on the end user industries for manufacturing of Polyurethane foams.
Polyol is produced by utilizing Propylene Oxide and Ethylene Oxide. Hence, the production and availability of these two products largely affects the demand and supply of Polyol in India. Limited availability of Propylene Oxide used as a feedstock for Polyol in India is one of the major reasons for Polyol’s low production in the country.
Additionally, a growing preference for Polyol in roofing and footwear applications along with extensive demand as a refrigerant in refrigeration industries is expected to drive the domestic demand for Polyol during the forecast years.
Due to growing environmental concerns, a recent shift in the India Polyol market is to increase consumption of bio-based polyurethanes. Several government initiatives have been taken to increase the usage of bio-based polymers.
Major players operating in the India Polyol market are Manali Petrochemicals limited, Gulshan Polyol limited, Annu industries limited, Shakun industries, Aether Industries Limited, Amrit Polychem Pvt Ltd, Vithal Castor Pvt Ltd., Expanded polymer System and others.

Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
Objective of the Study:

  • To assess the demand-supply scenario of Polyol which covers production, demand, and supply of the Polyol market in India.
  • To analyze and forecast the market size of Polyol.
  • To classify and forecast India Polyol market based on end-use, region, and sales channel.
  • To identify drivers and challenges for India Polyol market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India Polyol market.
  • To identify and analyze the profile of leading players involved in the manufacturing of Polyol.

The pricing of Polyol is largely dependent on fluctuations in crude oil, and other upstream sources.
To extract data for the India Polyol market, primary research surveys were conducted with Polyol manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for the India Polyol market over the coming years.
ChemAnalyst calculated Polyol’s demand in India by analyzing the historical data and demand forecast which was carried out considering imported styrene prices, a monomer used for the production of Polyol. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:

  • Polyol manufacturers and other stakeholders
  • Organizations, forums and alliances related to Polyol distribution
  • Government bodies such as regulating authorities and policy makers
  • Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, the India Polyol market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Market, by End use Construction, Automotive, Furnishing, Packaging, Electrical and Electronics
Market, by Process Propoxylation, polyethylene glycol based, phthalic anhydride, Ethoxylation
Market, by Sales Channel Direct Sale, Direct Import, Distributor & Traders, Retailers
Market, by Region North, East, West, South

Competitive Landscape:
ChemAnalyst offers detailed analysis of major players including basic company details, segmental/product information, financial matrices, growth strategies, expansion plans, collaborations, SWOT analysis etc.to give comprehensive and meaningful insights on the respective product market.
Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs. The following customization options are available for the report: