Bio-Based Polyurethane Market Share, Growth, Development and Demand Forecast Report 2030

The bio-based polyurethane industry has captured $34.8 million revenue, and it is projected to generate $63.3 million revenue, rising at a rate of 6.9% from 2021 to 2030. It is attributed to massive applications of polymer, such as biomedical, footwear, packaging, and transportation.

Bio-based polyurethane coatings are the major substitute for petrochemical-based coatings, as they are easily accessible, biodegradable, and cause the least environmental impact.

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Synthetic polyurethane materials are poisonous and non-biodegradable. They utilize petrochemical-based raw materials, which is currently exhausting, and thus results in surging polyurethane production costs. The bio-based variant has better properties compared to petroleum-based polyurethanes, including tensile strength, high compressive strength, water absorption, and bending strength.

The largest bio-based polyurethane industry captures around 50% industry share. Adhesives and sealants, and rigid foam and coatings hold the next-significant share of the industry. Flexible foam based on bio-based polyurethane is light, supportive, durable, and comfortable. Cushioning material is used in a large number of commercial and consumer products, including automotive interiors, carpet underlay, mattresses, furniture, packaging, seating, and other items.

APAC captures more than 35% of the industry revenue share, and it is projected to retain its dominance in the coming future. It is attributed to the rising demand for materials in the construction, automotive, consumer goods, and packaging industries in various countries.

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For example, China experiences significant sales and production of automobiles. In addition, Indonesia, Vietnam, India, and the Philippines have been involved in significant partnerships in the public-private construction sector, that impact the bio-based polyurethane sector in the industry.

Therefore, rising footwear application fuels the demand for the bio-based polyurethane industry.

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Polyurethane Composites Market Report - https://www.psmarketresearch.com/market-analysis/polyurethane-composites-market

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