Polyol is a type of alcohol which contains multiple hydroxyl groups. Green polyols are derived from polyurethanes and polyethylene terepthalate. Bio polyols or Natural oil polyols (NOPs) are derived from oils such as canola oil, castor oil, coconut oil, corn oil, rapeseed oil, palm oil, and soya bean oil. Increasing cost of petrochemical feedstock, public desire, and regulatory pressure for environment friendly products, which reduce the carbon footprint are the major growth drivers of green and bio polyols market. The demand for green and bio polyols is majorly due to its requirement in several industries such as packaging, construction, automotive, furniture, and bedding. Green and bio polyols are mainly utilized for the synthesis of polyurethane, which is further used for making coatings and foam. Furniture and construction industry is expected to increase the growth of green and bio polyols.
Green and Bio Polyols-Market Taxonomy
Based on Raw Materials, the green and bio polyols market is segmented into:
Based on Product type, green and bio polyols market is segmented into:
Based on Application, green and bio polyols market is segmented into:
Based on End-use industry, green and bio polyols market is segmented into:
Polyether polyols has more demand than polyester polyols, as polyether polyols can be effectively used in production of plastic products. Also, polyurethane foam has more demand as it is used for making mattresses and spray–on foam for thermal insulation for buildings.
Green and Bio Polyols Market Outlook
The companies are adopting various organic and inorganic growth strategies to sustain their market positions. The key manufacturers in green and bio polyols are Arkema S.A., Bayer AG, BioBased Technologies LLC, BASF SE, Cargill Inc., The Dow Chemical Company, Stepan Company, Emery Oleochemicals (M) Sdn Bhd, Jayant Agro-Organics Limited, Global Bio-chem Technology Group Company Limited, Johnson Controls Inc, Cargill Inc., Global Bio-Chem Technology Group Co. Ltd., Jayant Agro Organics Ltd., and E. I. du Pont de Nemours and Company.
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