Global green and bio polyols market is forecast to attain revenues of US$3Bn in 2018
Green Polyol & Bio Polyol Market: Global Trends & Forecasts 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-17 07:32:02
The global market for green & bio polyols is growing at a rapid pace with most of the major markets in a phase of active growth. The demand for green & bio polyols is driven by end-user industries such as construction, transportation, furniture/bedding, carpet, packaging, etc. Currently, the content of green & bio polyols in polyurethanes and CASE products ranges from 5.0% to 15.0%. This percentage is increasing owing to the following factors:- Strict environmental norms and favorable regulations encourage manufacturers to increase green & bio polyol content in their products
- Increasing prices of conventional polyols due to increasing crude oil prices
- Abundant supply of raw materials (natural oils and polyurethanes/PET waste)
- Higher sustainability due to lower carbon footprintThe green and bio polyol market is forecast to total revenues of US$3,077 million by 2018 accounting for a consumption base of 1104 Kilotons.The global market for green & bio polyol has grown significantly during the last few years and it is expected to grow at a rapid pace in the next five years, mainly driven by a growing consumption in the Asia-Pacific region.Currently, North America is the largest market for green & bio polyols followed by Europe, Asia-Pacific, and ROW. In addition, Europe is currently the largest importer of green & bio polyols. The consumption trend is expected to change by 2018. Asia-Pacific with a forecasted consumption of 363.9 kilotons by 2018 will be the second largest consumer of green & bio polyols with Europe relegated behind Asia-Pacific. It was observed that manufacturers prefer to establish manufacturing facilities in proximity of raw material source; thus, securing an uninterrupted supply of raw materials.The leading companies operating in the green polyol industry include BASF SE (Germany), The DOW Chemical Company (U.S.), Cargill Inc. (U.S.), Mitsui Chemicals (Japan), Petopur GmBH (Germany), Rampf Ecosystems (Germany), Emery Oleochemicals (H) SDN BHD (Malaysia), etc.North America is currently the largest consumer of green & bio polyols. The U.S. is the largest consumer of green & bio polyols in North America. Corn and Soybean are primarily used as feedstock to produce bio-based polyols in North America. The demand for Green & Bio Polyols Market is driven from end user industries such as automotive, packaging and furniture. The automotive industry in North America is the largest consumer of green & bio polyols. Almost 70.0% vehicles manufactured by Ford Motor Company in North America contained seat components that use green & bio polyols. Cargill Inc. (U.S.), The DOW Chemical Company (U.S.), Johnson Controls Inc. (U.S.), etc are among the largest manufacturers of green & bio polyols in North America.
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