Press release
What’s driving the Natural Oil Polyols Market growth? Cargill, BASF, The Dow Chemical Company, BioBased Technologies LLC, Stepan Company, Elevance Renewable Sciences, Inc., Mitsui Chemicals Group, The Lubrizol Corporation, Vertellus Specialties Inc.
Natural Oil Polyols Market
These products are obtained from vegetable oils and are used to produce polyurethane used across the automotive and transportations sectors. Ford Motor Company, the renowned American automaker, had recently used soy oil based PU foam for its seating in the popular Ford Mustang. Soy oil based foams are heavily utilized for plastic & metal coatings, door foamers, footwear cushioning, wood & concrete coatings, and headliners, which will subsequently propel NOP market trends.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• BASF
• Cargill
• Covestro
• Mitsui Chemicals
• Dow Chemical
• Stepan Company
• Huntsman Corporation
• BioBased Technologies LLC
• Jayant Agro Organics
• IFS Chemicals Group
• Elevance Renewable Sciences
• Emery Oleochemicals
• Lubrizol
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.
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.
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.
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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.
Castor, soy, sunflower and palm are major vegetable oil sources used as NOP feedstock. Increasing application scope in food & biofuel industries may lead to tight raw material supply and affect natural oil polyols market price trend. Majority of vegetable oil production is concentrated in APAC and NOP market price trend in North America and Europe is affected by import duties and regional government policies.
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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.
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