Polyester polyols, processes for making them, and applications for the polyols are disclosed. In some aspects, the polyols comprise recurring units from a
thermoplastic polyester or an aromatic polyacid source, a glycol, and a hydroxy-functional ketal acid, ester or
amide. Optionally, the polyols incorporate recurring units of a
hydrophobe. The polyols are made in one or multiple steps; in some aspects, the
thermoplastic polyester or aromatic polyacid source and the glycol are reacted first, followed by reaction with the hydroxy-functional ketal acid, ester or
amide. The resulting polyols have good transparency and little or no particulate
settling or phase separation. High-recycle-content polyols having desirable properties and attributes for formulating
polyurethane products, including aqueous
polyurethane dispersions, flexible and rigid foams, coatings, adhesives, sealants, and elastomers can be made. The polyols provide a sustainable alternative to bio- or
petrochemical-based polyols.