Press release
Bio-Based PU Market 2019 Trending Scenario, Advance Analysis and Forecast to 2029
Bio-Based PU Market IntroductionBio-based PU are produced from sustainable substitutes of petroleum. Bio-based PU is a promising alternative to the conventional petroleum based PU as they have reduced carbon content, are more environment friendly and biodegradable.
The intensity of participation in the global bio-based PU market is expected to increase as it offers a promising growth in coming years. Existing chemical market players are collaborating and investing huge capitals on other research institutes and biotechnology firms for the development of new bio-based PU products and for the optimization of the methods of bio-based PU production.
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Bio-Based PU Market Dynamics
Bio-Based PU Market Drivers
Bio-based PU is more cost-stable as compared to the conventional fossil-fuel (petroleum) based PU as fossil fuels suffer from intense fluctuations in availability, trade and hence their prices. Also, the performance of bio-based PU is comparable to that of petroleum based PU.
Therefore, a competitive advantage of bio-based PU from conventional PU in terms of its cost stability and performance is expected to be one of the key factor driving the growth of global bio-based PU market.
Furthermore, the utilization of bio-based PU instead of petroleum based PU helps reduce the carbon footprint of industries. The industries are more focused towards the adoption of sustainable methods of production and manufacturing.
This factor has significantly resulted in the increasing demand for bio-based PU from industries such as automotive, construction, and paints and coatings among others that are trying to achieve their sustainability goals and offer more environment friendly products to the consumers.
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Therefore, an increase in the global awareness for the utilization of bio-based PU amongst industrialists is driving the growth of global bio-based PU market.
Bio-Based PU Market Restraints
Although bio-based PU is cost stable, the prices of bio-based PU is higher as compared to the conventional petroleum based PU because the production of bio-based PU is comparably difficult and requires additional investments. This factor significantly restraints the sales of global bio-based PU market and acts as a significant restraint against the growth of global bio-based PU market.
Bio-Based PU Market Trends
The opportunities of growth in the global bio-based PU market are tremendous. These opportunities have been successfully recognized by the existing polymer manufacturers and in order to grow in the global bio-based PU market, they are actively participating in collaborations and mergers with other players for research and development of new bio-based PU products.
As a consequence, the global bio-based PU market has been witnessing a frequent number of product launches that is expanding the global bio-based PU market product portfolio and is increasing the intensity of competition amongst the different market participants.
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Bio-Based PU Market Segmentation
The global Bio-Based PU market can be segmented on the basis of type, applications, end-uses and regions.
On the basis of type, the global Bio-Based PU market can be segmented as:
Flexible foam
Rigid foam
Coatings
Adhesives
Sealants
Elastomers
On the basis of applications, the global Bio-Based PU market can be segmented as:
Specialty Foams
Thermal Insulation
Shoe Soles
Thermoplastic Poly Urethane(TPU)
Structural concrete roof decks and canopies
Polyurethane foam roofs
Others
On the basis of end-use industry, the global Bio-Based PU market can be segmented as:
Automotive
Construction
Furniture
Others
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Bio-Based PU Market Participants
Some of the market participants identified across the value chain of global bio-based PU market are:
Acme-Hardesty Company
Shaw Industries Group, Inc. (Berkshire Hathaway Company)
Woodbridge
Huntsman Corporation
Dow Chemical
Cargill, Incorporated
The Lubrizol Corporation
GC Innovation America (PTT Global Chemical Public Company Limited)
Bayer MaterialScience
NEOGARD (Hempel (USA), Inc)
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