Green and bio polyols are high quality bio-based polyols synthesized by using renewable materials such as tall oils or rapeseed. Green polyols offer enhanced performance properties, increased efficiencies and sustainability. They are excellent raw materials for use in the manufacture of a broad range of end products and applications including flexible foam, rigid foam, coatings, adhesives, sealants and elastomers. Key benefits include:
• Structural similarity to petrochemical polyols but with high (45-99%) renewable content
• Engineered to perform (process and properties)
• Superior hydrophobicity
• Based on well-established feedstock
• Cost competitive
Various factors such as eco-friendliness and sustainability of green and bio polyols, strict environmental norms by various governments and favourable regulations which encourage manufacturers to increase the green polyol & bio polyol content in their products are propelling the growth of green polyols market globally. Furthermore, the consistent and adequate supply of feedstock is also one of the factor driving the green polyols market. However, higher costs related to bio polyols as compared to conventional polyols is one of the major factor hampering the green polyols market growth globally.
Based on geography, green polyols market is studied by various key regions including, North America, Europe, Asia Pacific and RoW. Among these, the North American region emerged as a promising region for the green polyols market due to the growing demand for the aluminum alloy from automotive sectors, well developed automotive sector and growing government support. In addition, augmenting focus on fuel efficiency and forcing the manufacturers to meet the consumers demand has made the vehicles lighter and safe is also spurting the market in North America.
• Green polyols can be drop-in replacements for existing polyols, as they have similar structures and properties but are derived from renewable raw materials rather than petrochemicals, as well as substitutes for existing polyols that have slightly different structures and properties, or new compounds with entirely new functionality and performance characteristics
• Among the application segments, PU flexible foams is the fastest growing segment. PU flexible foams are widely used in the automotive industry to manufacture auto seat backrests, armrests, headrests, and other car interior parts. It is also used in household applications such as cushions in furniture
• Polyether polyols find widespread applications in the manufacture of flexible and rigid polyurethane foams. These foams are used in various end-use industries such as bedding and furniture, construction, and automotive. Thus, the growing use of polyurethane foams in numerous end-use industries is propelling the green polyols market globally
The global Green polyols market is led by key companies such Arkema, BASF SE, Bayer AG, Biobased Technologies LLC, Cargill Inc., Croda, E.I. Du Pont De Nemours & Co., Emery Oleochemicals, Global Bio-Chem Technology Group, Huntsman Corporation, Jayant Agro Organics Pvt. Ltd., Johnson Controls Inc., Koch Industries, Mitsui Chemicals, Novomer, Piedmont Chemical Industries, Polygreen Chemicals, Roquette, Stepan Company, The DOW Chemical Company, Polylabs, Itoh Chemicals, Repsol S.A., Ifs Chemicals and Diester Industrie S.A.S. New product developments coupled with technological advancements is expected to provide immense future opportunities for market expansion during the projection period. Foremost companies have invested huge capital in mergers & acquisitions and research & development activities to develop advanced products in the market.
• October 2018: Covestro launched thermoplastic polyurethanes (TPU) containing polyether carbonate polyols based on CO2 technology. This new product lowers carbon footprint than conventional ones, and helped close the carbon cycle
• May 2017: Cargill Inc. acquired Arkansas (U.S.) based BioBased Technologies. This acquisition is expected strengthen its portfolio into applications beyond the foam market, such as elastomers, sealants, coatings, binders and adhesives
The green polyols market is classified into raw material, type, application, end-use industry and geography. The raw materials used in manufacturing green polyols products are carbon dioxide, natural oils and their derivatives, recycled polymers and sucrose. Furthermore, the type comprises of polyether polyols and polyester polyols. Various applications of green polyols are coatings, adhesives, sealants, and elastomers, PU flexible foam and PU rigid foam. In addition, Major end use industry of this market are automotive, carpet backing, construction, furniture & bedding, packaging and others.
Geographically, green polyols market is studied by various key regions including, the North America, Europe, Asia Pacific and RoW. Among these, the North American region emerged as a promising region for the green polyols market due to the growing demand for the aluminum alloy from automotive sectors, well developed automotive sector and growing government support. In addition, augmenting focus on fuel efficiency and forcing the manufacturers to meet the consumers demand has made the vehicles lighter and safe is also spurting the market in North America.
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