The Green and Bio Polyols Market is predicted to reach USD 7.32 billion by 2028, expanding with a compound annual rate of 12.8% 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 polyols in their products. Green and bio-polyols are organic alcoholic solutions containing various hydroxyl groups. Green polyol is derived from polyethylene terephthalate (PET) and recycled polyurethanes, while bio polyol is extracted from different vegetable oils like rape, castor, and corn. Polyether polyols and polyester polyols are the two main types of green and bio polyols that are commonly predicted.
The ecological and sustainable nature of bio-polyols, 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 the latest goods and joint ventures that should assist them to enhance their places in the global green and bio polyols industry.
Some of the main trends observed in the industry include the escalating penetration of bio-polyols 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 calls for green and organic polyols have 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 bio-polyols. Due to its 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 bio-polyols 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 bio polyols industry. The high cost and impact of COVID-19, which in turn is predicted to hamper industry expansion.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
11.6% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
BASF SE, The Dow Chemical Company, 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. |
Polyether Polyol
Polyester Polyol
The call for green polyol and bio poly is driven by expansion in the industries of the respective end-users.
Polyurethane Rigid Foam
Polyurethane Flexible Foam
Coating
Adhesive
Sealant
Others
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 bio-polyols and their applications further contribute to the expansion of this industry.
Furniture & Bedding
Automotive
Packaging
Carpet Backing
North America Green and Bio Polyols Industries include the U.S. and Canada.
Europe Green and Bio Polyols Industries include the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
Asia Pacific Green and Bio Polyols Industries include India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
Latin America Green and Bio Polyols Industries include Brazil, Mexico, Argentina, Chile & Rest of LATAM.
The Middle East & Africa Green and Bio Polyols Industries include KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, and the rest of MEA.
The North America 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 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 resulted in increased usage of green and bio-polyols in North America. North America is an important industry for green and bio polyols and is predicted to grow exponentially during the foreseen period.
The Asia Pacific is the fastest-growing industry for green and bio-polyols. China, Japan, Malaysia, and India are the main industry in the region. The growing call for green and bio polyols in end-user industries, including the construction, transportation, and durable consumer goods industries is driving the industry in this region. The growing economy, the escalating level of disposable income, rapid industrialization, and the 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 bio polyols 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.
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.
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