Green and Bio Polyols Market Analysis | 2023-2028

Market Insights

The green and bio polyols market is likely to grow at a CAGR of 5.8% during 2023-2028 to reach USD 4.8 billion in 2028.

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Market Dynamics

Introduction

Green and bio polyols are sustainable alternatives to conventional polyols, derived from renewable resources such as vegetable oils, corn, and castor oil. They play a vital role in the production of eco-friendly polyurethanes, which are widely used in industries like automotive, construction, and furniture. By reducing dependency on fossil fuels, green and bio polyols contribute to lower carbon emissions and environmental impact. These polyols also offer comparable performance to petroleum-based counterparts, making them a practical choice for manufacturers seeking sustainability without compromising quality. Their growing adoption aligns with global efforts to promote green chemistry and circular economy principles.

Market Drivers

The major factors driving the growth of the green and bio polyols market are:

• The growth of the market is attributed to the increasing demand for bio-based products
• Growing awareness about the environmental benefits of green and bio polyols, and government regulations promoting the use of sustainable materials. 

Key Players

The following are the key players in the green and bio polyols market:

• BASF SE (Germany)
• Cargill, Incorporated (US)
• DuPont (US)
• Evonik Industries (Germany)
• Huntsman Corporation (US)
• LG Chem (South Korea)
• Stepan Company (US)
• The Dow Chemical Company (US)
• Wacker Chemie AG (Germany)

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Raw Material Type

"The most dominant raw material for green and bio polyols is natural oils and their derivatives"

Based on the raw material type, the Green and Bio Polyols market is segmented into Natural Oils and their Derivatives, Sucrose, Glycerine, Carbon Dioxide. The most dominant raw material for green and bio polyols is natural oils and their derivatives. This is because natural oils are a renewable and sustainable source of raw materials for polyols. They are also relatively inexpensive and have good physical and chemical properties. The fastest-growing raw material for green and bio polyols is carbon dioxide. This is because carbon dioxide is a waste product that can be captured and used to produce polyols. Carbon dioxide-based polyols are also environmentally friendly and have good physical and chemical properties.

By Type

"The most dominant type of green and bio polyols in the market is polyether polyols"

Based on the type, the market is segmented into Polyether and polyester. The most dominant type of green and bio polyols in the market is polyether polyols. This is because polyether polyols are more versatile and have better performance properties than polyester polyols. They are also more widely used in a variety of applications, such as PU flexible foam, CASE, PU rigid foam, coatings, adhesives, sealants, and elastomers. The fastest growing type of green and bio polyols is polyester polyols. This is because polyester polyols are becoming more cost-competitive with petroleum-based polyols. They are also gaining popularity in applications where high temperature resistance and chemical resistance are required.

By Application Type

"The most dominant application for green and bio polyols is PU flexible foam"

Based on the applications, the market is segmented into PU Flexible Foam, CASE, PU Rigid Foam. The most dominant application for green and bio polyols is PU flexible foam. This is because PU flexible foam is a versatile material that is used in a wide range of applications, such as furniture, bedding, mattresses, automotive interiors, and packaging. The fastest growing application for green and bio polyols is CASE. CASE stands for Construction Adhesives, Sealants, and Elastomers. This is a growing market due to the increasing demand for sustainable materials in the construction industry.

By End-Use Type

"The most dominant end-use market for green and bio polyols is furniture and bedding"

Based on the end-use industry, the market is segmented into Furniture and Bedding, Automotive, Construction, Packaging, Carpet Backing, Others. The most dominant end-use market for green and bio polyols is furniture and bedding. This is because PU flexible foam is a major component in furniture and bedding, and green and bio polyols are increasingly being used in these applications. The fastest growing end-use market for green and bio polyols is automotive. This is due to the increasing demand for sustainable materials in the automotive industry, and the growing use of green and bio polyols in automotive applications, such as foam seats and headliners.

Regional Analysis

"North America is the most dominant region for the green and bio polyols market?"

In terms of regions, the most dominant region for the green and bio polyols market is North America. This is due to the high demand for sustainable materials in the region, and the presence of many key players in the market. The fastest growing region for the green and bio polyols market is Asia Pacific. This is due to the growing demand for bio-based products in the region, government regulations promoting the use of sustainable materials, and increasing investments in the automotive and construction industries.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s green and bio polyols market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The green and bio polyols market is segmented into the following categories:

By Raw Material Type

• Natural Oils and their Derivatives
• Sucrose
• Glycerine
• Carbon Dioxide

By Type 

• Polyether
• Polyester

By Application Type

• PU Flexible Foam
• CASE
• PU Rigid Foam

By End-Use Industry Type

• Furniture and Bedding
• Automotive
• Construction
• Packaging
• Carpet Backing
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.