Top Key Players Operating In the Global Natural Oil Polyols Market and Growth Strategies

The natural oil polyols market is driven by increasing polyurethane demand from automobile and infrastructure industries. For instance, the Ford Motor Company implemented polyurethane foam made by using soy oil in the seats of its 2008 Ford Mustang. Ford Motor Company has since placed soy foam seating in all its North American vehicle platforms. The different governments and international organizations are framing stringent environmental regulations to reduce the emission of greenhouse gases emission that is expected to fuel the growth of the global natural oil polyols market.

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Environmental Protection Agency (EPA) set a policy to promote environment-friendly products pertaining to health and ecosystem safety. In North America, Environmental Protection Agency (EPA) introduced emission standards for cars and light trucks. According to the target set by EPA, the permissible emission from a passenger car should not exceed 225 grams per miles (g/mi) in 2016. The planned permissible emission limits for passenger cars is 143 g/mi for 2025 in the region.

Based on product, the soy oil polyols was the major revenue contributor to the global natural oil polyols market. The major reason behind the growth of the soy oil polyols segment is the ease of processing and abundant availability of raw materials on account of increasing soy acreage in the U.S. and Brazil.

Asia-Pacific is expected to be the fastest growing market for natural oil polyols, during the forecast period, due to the increasing spending on infrastructure in countries such as China and India, coupled with the availability of raw materials, such as castor oil and palm oil.

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Natural oil polyols are also known as biopolyols, which are derived from vegetable oils. Some of the major vegetable oil sources, such as sunflower oil, soy oil, castor oil and palm oil, are used as natural oil polyols feedstock. Many vegetable-based oils have structures that lend themselves well as a base for these products, leading to the production of bio-based polyols. Naturally occurring variations in composition could be dealt with using a variety of process strategies.

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