The worldwide market for green and bio polyols is predicted to reach USD 4.84 billion by 2025, expanding with a compound annual rate of 9.6% by value.
Green and bio polyols are essential materials that are vital in the making of polyurethane, thermoplastic elastomers, adhesives, coatings, and artificial leather. Some of the factors driving the worldwide industry for green and bio polyols are the implementation of strict environmental standards by various governments and favorable regulations that encourage manufacturers to increase the content of green polyol in their products. Green and biopolyols are organic alcoholic solutions containing various hydroxyl groups. Green polyol is derived from polyethylene terephthalate (PET) and recycled polyurethanes, while biopolyol is extracted from different vegetable oils like rape, castor and corn. Polyether polyols and polyester polyols are the two main types of green and biopolyols that are commonly predicted.
The ecological and sustainable nature of biopolyols, the constant supply of biological raw materials and the fluctuating prices of crude oil, are the key drivers of the worldwide market for green and organic polyols. Significant players are escalating their share of the industry and worldwide footprint in the green and bio polyol industry by using different strategies like introducing latest goods and joint ventures that should assist them enhance their places in the global green and bio polyols industry.
BASF has developed its variety of high quality biobased polyols sold under the Sovermol brand. The products are predicted for the production of very low emission PU 2K coatings for interior and exterior applications.
Some of the main trends observed in the industry include the escalating penetration of biopolyols in the automotive industry, the increase in the use of rigid foam in the construction industry and the escalating use of polyurethane foams in the automotive industry. Various application industries. Industry call for green and organic polyols has escalated significantly in certain end-user industries, like transportation and construction. Several expansion factors, like the availability of raw materials and rising crude oil prices that lead to higher prices for conventional polyols, have contributed to the expansion of the industry. Other factors, like the lower carbon footprint, have also led to escalated durability of green and biopolyols. Due to the ecological nature, the automotive and construction sectors have adopted green and organic polyols in various applications. The growing construction industry, escalating government pollution regulations and rapid industrialization are predicted to support the expansion of the global green and biopolyols industry in the Asia-Pacific region. Growing call from various end-user sectors, like construction and transportation, is predicted to drive expansion in the global green and bio polyols market in the coming years.
The worldwide green and bio polyols industry is experiencing a high expansion rate, but some factors limit and challenge the expansion of the market. These are the higher costs of green and organic polyols than those of conventional polyols, escalating the productivity of crops by artificial means that cause negative environmental impacts.
The escalating applications of organic compounds and the escalating call of the construction industry are driving the expansion of the industry.
Lack of technology and unexpected results compared to traditional polyols should hamper the development of the global green and biopolyols industry. The high cost and impact of COVID-19, which in turn is predicted to hamper industry expansion.
Call for green polyol and biopoly is driven by expansion in the industries of the respective end users.
Green and Bio Polyols Market
Flexible polyurethane foams are widely predicted in the automotive industry to make backrests, armrests, headrests, and other automotive interior parts. It is also predicted in domestic applications like furniture cushions. Among the application segments, flexible polyurethane foams are the fastest growing segment. Escalating R&D investments in green and biopolyols and their applications further contribute to the expansion of this industry.
By End-Use Industry
The North American region dominated the global green and bio polyols industry, both in value and volume, in 2019. The United States is the largest industry for green and organic polyols in North America and represented a significant part of the industry in terms of value in 2019. The use of green and bio polyols in construction, transportation and for applications like furniture, adhesives, sealants and binders is predicted to drive industry expansion in the region. The increase in the production of soy-based polyols in the USA, resulting in increased usage of green and bio polyols in North America. North America is an important industry for green and biopolyols and is predicted to grow exponentially during the foreseen period.
The Asia Pacific is the fastest-growing industry for green and biopolyols. China, Japan, Malaysia and India are the main industry in the region. The growing call for green and biopolyols in end-user industries, including the construction, transportation and durable consumer goods industries is driving the industry in this region. The growing economy, escalating level of disposable income, rapid industrialization and expansion of end-user industries are also contributing to the expansion of the industry in the European region. In this region, Italy and Germany are the main industries for green and biopolyols and are predicted to experience a good expansion rate during the foreseen period. The worldwide industry is predicted to grow to double-digit expansion during the foreseen period.
Some of the significant players operating in the global green & bio polyols market are BASF SE, The Dow Chemical Company, and Emery Oleochemicals (M) Sdn Bhd, Arkema S.A, Bayer MaterialScience, BioBased Technologies LLC, E.I. du Pont de Nemours and Company, Global Bio-Chem Technology Group, INVISTA S.A.R.L, Jayant Agro-Organics Limited, Johnson Controls Inc., Mitsui Chemicals, Inc., Stepan Company, and Cargill Inc.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2.2 Polyurethane Rigid Foam
5.2.3 Polyurethane Flexible Foam
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
5.3 End-Use Industry
5.3.2 Furniture & Bedding
5.3.5 Carpet Backing
5.3.6 Y-o-Y Growth Analysis, By End-Use Industry
5.3.7 Market Attractiveness Analysis, By End-Use Industry
5.3.8 Market Share Analysis, By End-Use Industry
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Application
220.127.116.11 By End-Use Industry
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
188.8.131.52 By End-Use Industry
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
22.214.171.124 By End-Use Industry
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Bayer AG
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Arkema S.A.
8.3 BioBased Technologies LLC
8.4 Jayant Agro Organics Ltd.
8.5 BASF SE
8.6 The Dow Chemical Company
8.7 Cargill Inc.
8.8 Stepan Company
8.9 Jayant Agro-Organics Limited
8.10 Emery Oleochemicals (M) Sdn Bhd
8.11 E. I. du Pont de Nemours and Company
8.12 Global Bio-chem Technology Group Company Limited
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures