In the modern economic age, polyols have emerged as a lucrative and indispensable class of industrial chemicals. According to Technavio’s latest industry research report on this topic, the global polyol market was worth over US$ 20 billion at the end of 2017, while the world’s top 10 polyether polyol manufacturers are dominating the market with some of the highest polyol productions every year. Unsurprisingly, the global polyol market’s gainful march will continue in the years after 2017, powered by the innovation and demand appeasement capabilities of the largest polyether polyol manufacturers in the world.
We are listing the top 10 polyether polyol manufacturers in the world. These largest polyol producers are expected to play a crucial role in the global polyol market’s fortunes through 2018 – 2022.
For more market intelligence about the global polyols market size, largest polyether polyol manufacturers, and future trends in the global polyols market, please check Technavio’s Global Polyols Market Report 2018-2022, or download Free Global Polyols Market Report Sample NOW!
Top 10 Polyether Polyol Manufacturers in the World 2018
BASF (Badische Anilin und Soda Fabrik) is a renowned German chemical company that is also the largest chemical producer in the world. The company is headquartered in Ludwigshafen, Germany and was founded 153 years ago, on 6th April 1865. In 2017, the company earned a net revenue of € 64.475 billion.
BASF manufactures and markets the ever-in-demand polyether polyols (PEOL) under the brand names, Lupranol? and Pluracol?. Popular polyurethane products like foams, adhesives, elastomers and sealants are produced by reacting hydroxylfunctional polyols with aromatic or aliphatic diisocyanates. BASF’s polyol-based products are marketed in over 80 countries worldwide, with the company’s general customer base extending to 190+ countries.
As for the largest polyether polyol manufacturers in the world, Cargill is a definite pack-leader. The company is headquartered in Minnesota, USA, and was founded 153 years ago in the year 1865. Cargill holds the distinction of being the largest privately held corporation in the US in terms of revenue. The company employs 155,000 people across 66 countries and at the end of the fiscal year 2017-18, the company recorded a net revenue of US$ 114.7 billion at a 5% increment over the previous year.
Cargill is one of the world’s largest polyol producers. On offer is a wide range of polyols including erythritol, glycerin, sorbitol, mannitol, isomalt, xylitol and maltitol. These are used across a range of industrial applications, including as emulsion stabilizers, functional fluids, plasticizers, and the designated polyol additive for polyurethane and alkyd resins.
Formed after the merger of Dow Chemical and DuPont on August 31, 2017, DowDuPont is one of the world’s largest chemical company in terms of sales. The unified company is reported to be worth an estimated US$ 130 billion and closed out the 2017-18 fiscal year with a net revenue of US$ 62.48 billion. In 2019, DowDuPont is set for more dynamic maneuvers by splitting into three publicly traded companies: Corteva Agriscience (Agriculture), Dow (Materials sciences) and DuPont (Specialty products).
Dow Polyurethanes is a premier material science business division of DowDuPont and is currently launching an innovative new range of co-polymer polyols (CPPs). Targeted at the flex foam industry, Dow is marketing four new CPPs namely, VORALUXTM HL 500, VORALUXTM HL 510, VORALUXTM HL 515, VORALUXTM HL 525. These will likely find prime application in the automotive, furniture and bedding industries.
Germany’s Lanxess is a leading supplier of hot-cast prepolymers. Founded in 2004 and based in Cologne, Lanxess Aktiengesellschaft recorded a profitable 2017-18 fiscal year with net income of € 379 million. In 2016, the company acquired prominent US chemicals company Chemtura to gain a foothold in the additives for lubricants and fire retardants market.
Lanxess’s in-house Urethane Systems business unit is a prominent manufacturer of hot-cast prepolymers, with particular expertise in aqueous urethane dispersions and polyester polyols. These find wide application in such diverse industrial domains as mining, oil and natural gas, construction, electronics industry, etc.
Founded in 1997 and headquartered in Tokyo, Japan, Mitsui Chemicals is one of the largest polyether polyol manufacturers in the APAC region, especially Japan, China and Southeast Asia. The company is also generating a fair bit of interest across Europe and the United States of America. Mitsui Chemicals deals primarily with petrochemicals, performance materials, functional polymeric materials and other basic chemicals.
OLESTER? is a group of trademarked acrylic resin and polyurethane resin that finds popular application as coating materials. Particularly, OLESTER? Q type is an acrylic polyol that’s widely used for two-pack type polyurethane type coatings. Additionally, Mitsui’s JV with SKC Polyurethanes Inc. has resulted in the setting up of its bio-polyol manufacturing company in India. The JV is named, Vithal Castor Polyols Pvt. Ltd., and renders Mitsui Chemicals as a numero uno force when it comes to the Asian polyol market.
A 111 year old goliath in the global oil and natural gas industry, Shell is headquartered in the Netherlands and incorporated in the United Kingdom. In terms of the 2016 revenues, this ‘supermajor’ oil and gas undertaking was ranked the sixth largest company in the world. Amongst a wide array of business interests, its chemical companies have emerged as a dominant supplier of polyether polyols. The latter is a key component in the production of polyurethanes including the foam used in beddings, furniture and insulation. Additional applications include adhesives, sealants and coatings as applicable across a multitude of industrial specialties.
Shell markets its polyether polyols under the brand name CARADOL. The latter is primarily derived from propylene oxide, which upon reaction with isocyanates produce the polyether polyols, applicable across a range of aforementioned product applications.
Formerly known as Bayer MaterialScience, Covestro is positioned as the successor to the erstwhile chemicals industry giant. Founded in 2015, Covestro specializes in the manufacture of coatings, adhesives, polyurethanes and polycarbonates. Makrolon, Covestro’s brand of extremely high impact resistant plastic, is gaining a wide and authoritative foothold across the world. Developments such as this have helped Covestro register a Q1, 2018 profit of € 1,431 million.
Covestro markets its polyols under the following brand names: Acclaim?, Arcol?, Baygal?, Desmophen?, Hyperlite?, Multranol? (specific to North America), Sumiphen? (specific to Japan) and Ultracel?. As is obvious, polymeric polyols form a major product offering from this company and its core expertise renders it a keen competitor and one of the largest polyether polyol manufacturers in existing and emerging markets.
A leading manufacturer of specialty chemicals, Stepan Company was founded in the year 1932 and names itself the ‘largest global merchant manufacturer of anionic surfactants’, primarily used to augment the foaming and cleaning abilities of shampoos, detergents, etc. The company also has a distinguished resume when it comes to polyester polyols.
Stepan Company retails its polyols under the brand name STEPANPOL?. The latter, as a popular aromatic polyester polyol brand utilizes phthalic anhydride as the core building block, rendering it more abrasion resistant, hardy, and with enhanced hydrolytic stability. Also, STEPANPOL? aliphatic polyester polyols are manufactured using a variety of acids and diols, thereby rendering them highly customizable for the varied tasks at hand. Finally, there are the new-breed, innovative polyols that the Stepan Company has successfully leveraged to address the constantly emerging industry demands.
View related report: Global Bio Polyols Market 2018-2022
Madrid, Spain, based Repsol is an integrated global energy company that generated € 2.121 billion in profits through the 2017-18 fiscal year, the company’s best earnings in the last six years. Repsol employs over 24,000 people worldwide and is seen as a major player in the global oil and gas industry. The company’s portfolio also includes rich expertise in the manufacturing and retail of polyether polyols. Repsol markets its polyols under the Alcupol brand name. Alcupol is widely used in flexible foams, rigid foams and in coatings and sealant adhesives.
In 2017, Repsol made its intentions clear about pioneering a new type of polyol- polycarbonate polyol. Herein, the usual raw material, a limited fossil based resource called propylene oxide will be replaced with CO2, an abundant and sustainable raw material. Repsol is thus viewed as a pro-modernization and eco-conscious entry amid the largest polyol manufacturers across the world.
Founded in 1897, the Lonza Group is a Swiss chemicals and biotechnology major. In the 2017-18 fiscal year, the company generated a revenue of CHF 5.08 billion (Swiss francs) and has invested in strategic partnerships and R&D. Lonza manufactures a range of products as part of its ‘Coatings and Composites’ portfolio, including polymer additives, composite materials and Hydrazine.
For more largest polyether polyol manufacturers in North America, Europe, and Asia, please check following report: