Green and Bio Polyols Market worth $6.9 Billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO , May 18, 2022 /PRNewswire/ -- According to the report "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", published by MarketsandMarkets™, 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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Natural oils and their derivatives are the largest raw material segment of the green and bio polyols market
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.
Polyether polyols are the largest applications segment of the green and bio polyols market
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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PU flexible foams is the largest applications segment of the green and bio polyols market
Based on applications, the green and bio polyols market is divides into PU Flexible Foam, CASE, PU Rigid Foam. The PU flexible foams application segment accounted for the largest share in the green and bio polyols market in 2021. PU flexible foams are used in different consumer and commercial products, including furniture, carpet cushion, transportation, bedding, packaging, textiles, and fibers. These foams consist of slab stock, which is primarily used for carpet cushions and furniture. They are also used for office chairs, stadium seating, and auditorium seating. As a cushioning material, these foams provide support, comfort, durability, and energy absorption. PU flexible foams have a wide range of applications in the automotive industry, such as in seating, headrests, arms rests; heating, ventilating, and air conditioning (HVAC) components, interior panels & skins, car & truck fenders, headliners, and other interior systems. The use of polyurethane for automotive design results in weight reduction, passenger comfort, and compressive strength in vehicles, thus driving the need for polyurethane flexible foams in the automotive industry.
Furniture & Bedding is the largest end-use industry segment of the green and bio polyols market
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.
North America is the largest market for green and bio polyols market
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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