Polyol Ester Market – Functional Survey 2027
Posted by Divakar on December 11th, 2020
The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
The global polyol ester market is expected to see a significant growth in the coming years and witness significant growth between 2017 and 2027. The manufacturers and suppliers play a significant role in catering the need of the consumers by strengthening the supply chain, particularly in regions, such as APAC, Europe, and North America. According to the new report of Persistence Market Research titled, “Polyol Ester Market: Global Industry Analysis (2012-2016) and Forecast (2017-2027),” which tracks the performance of the global polyol ester market for the projected period of 10-years, suppliers are catering to specific requirements of polyol esters manufacturers, while adhering to high quality standards of production. Global Polyol Ester market is estimated to be valued at US$ 3,870.6 Mn by 2016 and is expected to expand at a CAGR of 5.1% over the forecast period.
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Global Polyol Ester Market: Drivers
Global Polyol Ester Market: Regional Analysis
Five regions have been covered in this report, such as North America, Latin America, Europe, APAC, and MEA. Asia Pacific generates a high revenue owing to the varied applications of polyol ester across different industry verticals. The price of polyol esters is steadily increasing in Japan, China, and India, as they have emerged as the fastest growing markets for end-user industries of polyol esters. These countries also happen to be the largest producers of pentaerythritol and neopentyl glycol and are all open for globalization. With the increased demand and governments emphasizing on developing trade relations, the price of these products have gone higher and will continue to grow. The polyol ester industry in Asia Pacific has a substantial growth potential. The automotive industry in China has seen a strong penetration of synthetic lubricant as compared to global standards. In terms of lubricants, the market scenario is not technologically advanced, and a lot of these materials are imported to cater to the unmet domestic demand.
Global Polyol Ester Market: Segmental Analysis
The market is segmented into product, application and end-user segments. Product segment consists of NPG, TMP, PE and DiPE. Among all the product types, NPG is estimated to account for largest values share in the global Polyol Ester market followed by TMP in 2027.
Application segment includes automotive crankcase material, gear oils, fire resistant hydraulic fluids, carrier fluids, food contact material, environmentally acceptable hydraulic, fluid and lubricants, heat transfer fluids, quenchants, breathing air compressor material, air compressor material, vacuum pump, instrument oil, seal swellants, and textile lubricants. Gear oils indicate the highest growth in the global level with BPS hitting +160, while drilling fuel on the other hand is on a downward spiral with BPS hitting as low as -30.
On the basis of end-use segment, the global polyol ester market is segmented into food & beverage, chemical, machinery, electrical & electronics, automotive, marine, aerospace, textile, mining, utilities, construction and miscellaneous manufacturing. Automotive industry will see a high growth in 2027 with BPS rising by +160. Chemical industry will also see a significant growth with BPS rising by +70. Meanwhile the mining industry will see a drop in BPS by -50, while the Utilities industry will also see a drop by -50 BPS.
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About the AuthorDivakar
Joined: January 23rd, 2017
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