(MENAFN- Ameliorate Digital Consultancy) Global Industry Analysis
Polyols are polyhydric alcohols that are used in the production of polyurethanes, coatings, adhesives, sealants, and elastomers. They are derived from petrochemicals or renewable sources such as plant-based oils and sugars. The global green polyol & bio polyol market is growing, driven by the increasing demand for polyurethanes in various end-use industries such as construction, automotive, and furniture. However, there is a growing trend towards sustainability and reducing the environmental impact of these products. This has led to the development of green polyols and bio polyols, which are derived from renewable sources and have a lower carbon footprint.
Market Size and Growth
The global green polyol and bio polyol market is projected to grow from USD 2.5 billion in 2015 to USD 4.7 billion by 2023, at a CAGR of 13.5% during the forecast period. This growth is driven by increasing environmental concerns and the need for sustainable products. The demand for green polyols and bio polyols is expected to increase in various end-use industries such as construction, automotive, and furniture.
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Based on application, the market is segmented into rigid polyurethane foam, flexible polyurethane foam, coatings, adhesives, sealants, and others. Polyurethane flexible foam is widely used in the automotive industry to make car seat backs, armrests, headrests and other automotive interior components. It is also used in household items such as cushions in furniture. Among the application fields, flexible polyurethane foam is the fastest growing field. Rising R&D investments in green polyols and biopolyols and their applications are further contributing to the growth of this market.
North America is the major market for green polyols and biopolyols and is expected to grow exponentially over the forecast period. In North America, the US holds the largest market share. Asia Pacific is the fastest growing market for green polyols and biopolyols. China, Japan, Malaysia, and India are the major markets in the region.
Growing demand for green polyols and biopolyols from end-user industries including construction, transportation, and consumer durables industries is driving the green polyols and biopolyols market in the region. Economic growth, rising levels of disposable income, rapid industrialization, and growing end-user industries further contribute to the growth of the market in the European region.
In the European region, Italy and Germany are the key markets for green polyols and biopolyols and are expected to witness good growth rates over the forecast period. The global green polyols and biopolyols market is expected to grow at a double-digit rate over the forecast period.
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Some of the key players in the global green polyols and biopolyols market are Cargill, BASF SE, The Dow Chemical Company and Emery Oleochemicals (M) Sdn Bhd, Arkema SA, Bayer MaterialScience, BioBased Technologies LLC, EI du Pont de Nemours and Company , Global Bio-Chem Technology Group, INVISTA SARL, Jayant Agro-Organics Limited, Johnson Controls Inc., Mitsui Chemicals, Inc., Stepan Company and Cargill Inc.
This report covers a thorough analysis of:
Market segment Market dynamics Market size Supply demand Current Trends/Issues/Challenges Competition and related companies Technology Value chain
Regional analysis includes:
North America (USA, Canada) Latin America (Mexico, Brazil) Western Europe (Germany, Italy, France, UK, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia and New Zealand) Japan Middle East and Africa (GCC countries, South Africa, North Africa)
Report highlights:
Detailed overview of the top markets Changing market dynamics of the industry In-depth market segmentation Historical, current and projected market size in terms of volume and value Recent industry trends and developments competitive landscape Strategies of major players and products provided Potential and niche segments, areas showing promising growth A neutral view of market performance Essential information for market participants to maintain and strengthen their market footprint
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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – 'The Way Forward'.
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