Polyol Esters Market Analysis
Polyol esters are the chemical compounds which are formed from multiple hydroxyl groups like carboxylic acids and alcohol. It is a type of synthetic oil that is more stable at high temperatures with significant use in refrigeration compressors. These are subject to less bio-degradable and hydroscopic combinations, with stable hydrolytic properties. In appearance, polyol esters are oily, crystal clear, and light yellow in color or sometimes even colorless. High physical and chemical properties of polyol esters increase the demand for polyol esters in end-to-end industries such as electrical/electronics and automotive. Polyol esters have a variety of applications including active agent in medical, lubricant in automotive industry, and wax in construction industry. Some derivatives formed by polyol industry are urea, insecticides, and fertilizers. In addition, polyol esters have other outstanding application areas, such as the foam industry, petrochemicals and chemical industry and others. Polyol esters can be used as substitute for a variety of applications from refrigerator cords to oven chains.
COVID-19 Scenario Analysis:
The outbreak of the COVID-19 pandemic has impacted the global polyol esters market to a great extent.
- As a result of the global economic slowdown caused by the pandemic, the growth of automotive sector has decreased dramatically. This has led to a steep fall in the demand for polyol esters
- The nationwide lockdown caused the major sectors such as the manufacturing sector, mining & power generation and other industries to lower their production rate, which also caused a reduction in the usage of polyol.
- Also, the demand for lubricants, compressors, cars, and motorcycles because of the decrease in disposable income among the consumers, has also decreased exponentially and this has direct impact on the polyol esters market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the major factors responsible for driving the growth of the global polyol esters market is the jet engine lubricant market; no other compound can be used in place of polyol esters in jet lubricant. Polyol esters are mixed with poly-alpha-olefin (PAO) synthetic oils in passenger car lubricant. Polyol esters are used as refrigerator lubricants in industries. The major application of polyol esters includes a fireproof transformer, high-temperature grease, textile lubricants, and fire-resistant hydraulic fluids. Such applications increase the demand for polyol esters, thus fostering the market growth.
The market in the Asia-Pacific region is dominant due to the presence of high population, surge in industrialization, and increase in domestic consumption in the automotive sector. However, the European market is also a potential market for polyol esters, since Europe has the largest cosmetic and automotive industry.
Key Benefits of the Report:
- This study presents the analytical depiction of the polyol esters industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global polyol esters market share.
- The current market is quantitatively analyzed to highlight the global polyol esters market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global polyol esters market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Polyol Esters Market Research Report:
- Which are the leading market players active in the polyol esters market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Polyol Esters Market Report Highlights
By End Use Industry
Key Market Players
Exxon Mobil, Inolex, Huntsman, Dow Chemicals, Purinova, Calumet Specialty Products Partners, KLK OLEO, Lanxess, Ultrachem, DowDuPont, Shell Chemicals, Perstrop, Vantage Performance Materials