Oct 20, 2022   SOURCE: BusinessWire

Global Green and Bio Polyols Market Report (2022 to 2027) - Increasing Usage of Bio-Based Polyols in Construction and Other Industries Presents Opportunities - ResearchAndMarkets.com

The "Green and Bio Polyols Market by Raw Material (Natural Oils and their Derivatives, Sucrose, Glycerin, Carbon Dioxide), Type, Application (PU Flexible Foam, CASE, PU Rigid Foam) End-use Industry and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global green and bio polyols market size is estimated at USD 4.4 billion in 2021 and is projected to reach USD 6.9 billion by 2027, at a CAGR of 9.5%, between 2022 and 2027.

Natural oils and their derivatives is the largest raw material segment of the green and bio polyols market

Based on raw materials, the green and bio polyols market includes natural oils and their derivatives, sucrose, glycerin, and carbon dioxide. The natural oils and their derivatives raw material segment led the application segment of the market in terms of both value and volume. Bio-polyols made from natural oils are also known as natural oil polyols. These polyols can be made from soybean oil, rapeseed (canola) oil, palm oil, castor oil, and sunflower oil.

The usage of a specific natural oil can be dependent on the region. All the natural oil polyols have similar sources and applications, but the materials are quite different, depending on how they are made. These polyols are colorless to light yellow. The viscosity of these polyols can vary based on the raw materials; it is determined by their molecular weight and the average number of hydroxyl groups present per molecule. The odor of these polyols varies based on the oil from which they are derived. Most natural oil polyols are quite similar chemically to their parent vegetable oils and are prone to rancidity.

Polyether polyols is the largest applications segment of the green and bio polyols market

Based on type, the green and bio polyols market is divided into polyether polyols and polyester polyols. The polyether polyols type segment accounted for the largest share in the green and bio polyols market in 2021. Polyether polyols are generally produced by the catalysis reaction of epoxides. They are mainly used in the manufacturing of PU flexible foam.

PU flexible foams in the largest applications segment of the green and bio polyols market

Based on applications, the green and bio polyols market is divided into PU Flexible Foam, CASE, and PU Rigid Foam. The PU flexible foams application segment accounted for the largest share in the green and bio polyols market in 2021. PU flexible foams are used in different consumer and commercial products, including furniture, carpet cushion, transportation, bedding, packaging, textiles, and fibers.

Furniture & bedding is the largest end-use industry segment of the green and bio polyols market

Based on the end-use industry, the green and bio polyols market is divided into furniture & bedding, construction, automotive, packaging, carpet backing, others. The furniture & bedding end-use industry segment is the largest end-user of green and bio polyols. Increased construction activities in the housing sector, especially in emerging economies, have fueled the demand for furniture & bedding products. Growing income levels in the emerging markets have led to added expenditure on luxury commodities. The furniture & bedding industry is a rapidly growing market for green and bio polyols, which are being increasingly used to manufacture cushions for sofas, recliners, and upholstered chairs for both household and commercial purposes.

North America is the largest market for green and bio polyols market

The North America region is projected to be the largest market, in terms of value. North America is expected to grow at the fastest rate during the forecast period. North America is a leader in the polyurethane market in terms of demand and product innovation in improving performance and quality. New developments in applications, such as aerospace, automotive, and wind energy, also make North America a dominating market. The automotive, furniture, consumer durables, and food & beverage industries are the major consumers of these polyols in the region.

Market Dynamics

Drivers

  • Use of Bio-Based Polyols in Polyurethane Used in Automotive, Furniture, and Construction Industries

Restraints

  • Developments in Different Regions to be a Restraint for Market

Opportunities

  • Concerns Over Depletion of Non-Renewable Resources and Environment Along with Innovations
  • Increasing Usage of Bio-Based Polyols in Construction and Other Industries

Challenges

  • Availability of Raw Materials and Crude Oil, Higher Cost of Green and Bio-Based Polyols, and Imbalance Between Commercial and Food Crop

Companies Mentioned

  • Acme Hardesty
  • Arkema
  • BASF Se
  • Biobased Technologies LLC
  • Cargill, Incorporated
  • Croda International plc
  • Emery Oleochemicals
  • Evonik
  • Global Bio-Chem Technology Group Company Limited
  • Huada Chemical Group Co., Ltd.
  • Huntsman Ifs
  • Itoh Chemicals
  • Jayant Agro-Organics Limited
  • Johnson Controls
  • Koch Industries
  • Mitsui Chemicals
  • Novomer Inc.
  • Oleon Nv
  • Piedmont Chemical Industries
  • Polylabs
  • Repsol S.A.
  • Roquette
  • Shakun Industries
  • Stahl Holdings Bv
  • Stepan Company
  • Synthesia Technology
  • The Dow Chemical Company
  • Xuchuan Chemical(Suzhou) Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/13ojmb