Green and Bio Polyols Industry worth $6.9 billion by 2027 | Key players BASF SE (Germany), The Dow Chemical Company (US), Cargill, Incorporated (US), Covestro AG (Germany), and Emery Oleochemicals (US).
According to recent market research the "Green and Bio Polyols Market by Raw Material (Natural Oils and their Derivatives, Sucrose, Glycerin, Carbon Dioxide), Type, Application (PU Flexible Foam, CASE, PU Rigid Foam) End-use Industry and Region - Global Forecast to 2027" The global green and bio polyols market size is estimated at USD 4.4 billion in 2021 and is projected to reach USD 6.9 billion by 2027, at a CAGR of 9.5%, between 2022 and 2027. The growth of the global green and bio polyols market is directly related to the strict government regulation against excessive use of petroleum-based polyols. The increasing production of PU flexible or rigid foams, as insulating material in infrastructure & building, in the furniture & bedding industry, and in packaging is expected to propel the growth of the green and bio polyols market globally. The use of green and bio-based polyols in CASE applications is also a major growth factor for the market.
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Browse 340 market data Tables and 46 Figures spread through 253 Pages and in-depth TOC on "Green and Bio Polyols Market - Global Forecast to 2027"
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Based on raw materials, the green and bio polyols market includes natural oils and their derivatives, sucrose, glycerin, carbon dioxide. The natural oils and their derivatives raw material segment led the application segment of the market in terms of both value and volume. Bio-polyols made from natural oils are also known as natural oil polyols. These polyols can be made from soybean oil, rapeseed (canola) oil, palm oil, castor oil, and sunflower oil. The usage of a specific natural oil can be dependent on the region. All the natural oil polyols have similar sources and applications, but the materials are quite different, depending on how they are made. These polyols are colorless to light yellow. The viscosity of these polyols can vary based on the raw materials; it is determined by their molecular weight and the average number of hydroxyl groups present per molecule. The odor of these polyols varies based on the oil from which they are derived. Most natural oil polyols are quite similar chemically to their parent vegetable oils and are prone to rancidity.
Based on type, the green and bio polyols market is divided into polyether polyols and polyester polyols. The polyether polyols type segment accounted for the largest share in the green and bio polyols market in 2021. Polyether polyols are generally produced by the catalysis reaction of epoxides. They are mainly used in the manufacturing of PU flexible foam. Polyether polyols contain multiple ether linkages and hydroxyl groups in their molecular form. Most of these polyols are used for manufacturing urethanes, surface-active agents, functional fluids, and synthetic lubricants. The physical properties of polyether polyols depend on the length of the polymer chain. These polyols have a molecular weight of more than 3,000.
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Based on end-use industry, the green and bio polyols market is divides into furniture & bedding, construction, automotive, packaging, carpet backing, others. The furniture & bedding end-use industry segment is the largest end-user of green and bio polyols. Increased construction activities in the housing sector, especially in emerging economies, have fueled the demand for furniture & bedding products. Growing income levels in the emerging markets have led to added expenditure on luxury commodities. The furniture & bedding industry is a rapidly growing market for green and bio polyols, which are being increasingly used to manufacture cushions for sofas, recliners, and upholstered chairs for both household and commercial purposes.
The North America region is projected to be the largest market, in terms of value. North America is expected to grow at the fastest rate during the forecast period. North America is a leader in the polyurethane market in terms of demand and product innovation in improving performance and quality. New developments in applications, such as aerospace, automotive, and wind energy, also make North America a dominating market. The automotive, furniture, consumer durables, and food & beverage industries are the major consumers of these polyols in the region.
BASF SE (Germany), The Dow Chemical Company (US), Cargill, Incorporated (US), Covestro AG (Germany), and Emery Oleochemicals (US) are key players in green and bio polyols market.
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BASF SE operates in more than 90 countries with six Verbund sites and 232 additional production sites worldwide. It supplies products to 90,000 customers. It collaborates with over 70,000 Tier 1 suppliers around the world. These suppliers provide important raw materials, chemicals, investment goods, and consumables to BASF SE, as well as a variety of services. The company operates through the Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, Agricultural Solutions, and others business segments.
The Dow Chemical Company, commonly referred to as Dow, manufactures and supplies various chemicals used primarily as raw materials for manufacturing processes in industries such as appliance, automotive, agricultural, building & construction, electronics, furniture, chemical processing, housewares, oil & gas, packaging, paints, coatings & adhesives, personal care, pharmaceutical, processed foods, pulp & paper, textile & carpet, utilities, and water treatment. The company's global operations are carried out through six global businesses, which are organized into the following operating segments: Industrial Intermediates & Infrastructure, Performance Materials & Coatings, and Packaging & Specialty Plastics. It operates its bio polyols business through the performance materials & coating segment.
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