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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
The growth of the global green and bio polyols market is directly related to the strict government regulation against excessive use of petroleum-based polyols. The increasing production of PU flexible or rigid foams, as insulating material in infrastructure & building, in the furniture & bedding industry, and in packaging is expected to propel the growth of the green and bio polyols market globally.
New York, May 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Green and Bio Polyols Market by Raw Material, Type, Application End-use Industry and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05084766/?utm_source=GNW
The use of green and bio-based polyols in CASE applications is also a major growth factor for the market.
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. Growth in the green and bio polyols market can primarily be attributed to the growing involvement of green and bio polyols in the industries such as construction, transportation and automotive, furniture & bedding among others.
Green and bio polyols are either synthesized from natural oils, such as soya, castor, palm, canola, and sunflower, or natural sources, such as corn and sugar, or Carbon Dioxide (CO2).They are also recycled from polymers, such as polyurethanes (PU) and polyethylene terephthalate (PET).
These polyols are used to make PU rigid and flexible foams, and coatings, adhesives, sealants, and elastomers (CASE), which are used in several end-use industries.The green and bio polyols market comprises polyether polyols and polyester polyols.
Green and bio-based polyether polyols are obtained by polycondensation reaction of propane-1,3-diol derived from glycerin, which can be obtained from several plant sources. Bio-based polyester polyols are formed by the condensation of bio-based dicarboxylic acids, such as adipic or succinic acid, with bio-based polyols (propane-1, 3-diol).
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.
Polyether polyols contain multiple ether linkages and hydroxyl groups in their molecular form.Most of these polyols are used for manufacturing urethanes, surface-active agents, functional fluids, and synthetic lubricants.
The physical properties of polyether polyols depend on the length of the polymer chain. These polyols have a molecular weight of more than 3,000.
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.These foams consist of slab stock, which is primarily used for carpet cushions and furniture.
They are also used for office chairs, stadium seating, and auditorium seating.As a cushioning material, these foams provide support, comfort, durability, and energy absorption.
PU flexible foams have a wide range of applications in the automotive industry, such as in seating, headrests, arms rests; heating, ventilating, and air conditioning (HVAC) components, interior panels & skins, car & truck fenders, headliners, and other interior systems. The use of polyurethane for automotive design results in weight reduction, passenger comfort, and compressive strength in vehicles, thus driving the need for polyurethane flexible foams in the automotive industry.
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.
The breakdown of primary interviews is given below:
• By Department: Sales/Export/Marketing – 60%, Production – 25%, and R&D –15%
• By Designation: Managers – 50%, CXOs – 30%, and Executives – 20%
• By Region: APAC – 42%, North America – 18%, Europe – 14%, Middle East & Africa – 22%, and South America – 4%
BASF SE (Germany), The Dow Chemical Company (US), Cargill, Incorporated (US), Covestro AG (Germany), and Emery Oleochemicals (US) are key players in green and bio polyols market.
Research Coverage
The green and bio polyols market has been segmented based on raw material, type, application, end-use industry and region.This report covers the green and bio polyols market and forecasts its market size until 2027.
It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the green and bio polyols market.The report also provides insights into the drivers and restraints in the green and bio polyols market along with opportunities and challenges.
The report also includes profiles of top manufacturers in the green and bio polyols market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the green and bio polyols market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the green and bio polyols market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the green and bio polyols market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as merger & acquisitions, new product developments, expansions, and collaborations.
Read the full report: https://www.reportlinker.com/p05084766/?utm_source=GNW
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