Fast Market Research recommends "Green Polyol & Bio Polyol Market by Type (Polyester & Polyether), Application (Rigid/flexible PU Foam, Coating, Adhesive & Sealant), End-user (Construction, Transportation, Packaging, Furniture & Carpet) & Geography - Global Trends & Forecasts 2018" from Markets and Markets, now available
Boston, MA -- (SBWIRE) -- 01/22/2014 -- The report on green & bio polyols captures its global market by volume and revenue. 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 footprint
About the market
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.
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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.
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