Natural Oil Polyols (NOP) Market Key Driver Analysis - Covestro, Mitsui Chemicals, Dow Chemical, Jayant Agro Organics, IFS Chemicals Group

This Global Natural Oil Polyols (NOP) market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Natural Oil Polyols (NOP) Market size may register 10.37 billion by 2023.

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Castor based NOP should grow significantly owing to key properties such as high purity and resistance towards hydrolysis. Additionally, it is one of the purest commercially available product requiring minimalistic modifications as compared to other counterparts such as soy and palm.

This report focuses on the top Manufacturers and players in global market are given bellow:-
BASF, Cargill, Covestro, Mitsui Chemicals, and Dow Chemical are key industrial players. Other companies include Stepan Company, Huntsman Corporation, BioBased Technologies LLC, Jayant Agro Organics, IFS Chemicals Group, Elevance Renewable Sciences, Emery Oleochemicals, and Lubrizol.

Natural Oil Polyols (NOP) Market Size By Product (Soy Oil, Castor Oil, Palm Oil, Canola Oil, Sunflower Oil)
Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023

Strong application outlook towards biomass derived polyurethane (PU) in automotive, construction and furniture industry should drive global natural oil polyols market size. Technology innovation over the past few years has pushed industry participants towards NOP adoption, in contrast to synthetic counterparts. They are at par in terms of sustainability &longevity as a substitute for petrochemical counterparts.

Soy oil based polyols dominated demand and generated over USD 1.75 billion in 2015. Ease of processability and abundant raw material availability owing to increasing soy acreages in U.S. and Brazil is estimated to drive product demand. Cargill and Dow have successfully capitalized soy based natural oil polymer market size for manufacturing PU spray foams and insulations.

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Favorable regulations by REACH and EPA to reduce GHG emissions may favor natural oil polyol market size growth. NOPs production process generates almost 30% less carbon emission and reduces energy demand by around 25% compared petrochemical counterparts.

Technology innovation for product development in cosmetics and food industry should favor industry growth. Also, industry participants such as BioAmber and Vertellus have invested to develop 100% bio-based polyols for commercial applications. Increasing R&D spending coupled with introduction of 100% bio-based NOP may have lucrative opportunities in near future.

Key insights from the report include:

North America, led by U.S. natural oil polyol market size, dominated the overall consumption with over 800 kilo tons in 2015.

Palm based NOP may witness highest gains in APAC. Increasing infrastructure spending in China and India coupled with key raw materials may fuel regional industry growth.

APAC, led by India &China natural oil polyol market size, may observe highest gains may generate over USD 2.75 billion by 2023. Growing industrial application scope in additives, solvents and lubricants owing to increasing bio based product awareness should drive regional demand.

Sunflower based NOPs may observe 6.5% CAGR in Europe and surpass 42 kilo tons by 2023. The segment is at its nascent phase owing to low commercial yield for industrial purposes.

LATAM, led by Brazil, may grow significantly gains during the forecast timeframe. Increasing application in automotive and construction industries may drive NOP market size growth.

Global natural oil polyol market share is technology driven and fairly consolidated. BASF, Cargill, Covestro, Mitsui Chemicals, and Dow Chemical are key industrial players. Other companies include Stepan Company, Huntsman Corporation, BioBased Technologies LLC, Jayant Agro Organics, IFS Chemicals Group, Elevance Renewable Sciences, Emery Oleochemicals, and Lubrizol.

Some of the companies have integrated their operations from manufacturing NOPs to process them further into PU and finished products including rigid &flexible foams.

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