Natural Oil Polyol Market Is Expected to Reach USD 7.22 Billion in 2020
Transparency Market Research Report Added "Natural Oil Polyol Market" to its database.
Albany, NY -- (SBWire) -- 03/09/2015 --Natural Oil Polyol Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
According to a new report published by Transparency Market Research "Natural Oil Polyol Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020", the global demand for natural oil polyol market was valued at USD 3.88 billion in 2013 and is expected to reach USD 7.22 billion in 2020, growing at a CAGR of 9.3% between 2014 and 2020.
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Polyols are the most important raw material required to manufacture polyurea and polyurethane. The chemical properties of polyol determine the end-use suitability of polyurethanes. Traditionally, polyol has been a downstream derivative of petroleum. However, natural oil polyols derived from plant oils have made steady headway into the market. Natural oil polyols increase the bio-content of polyurethane which results in higher renewable carbon content of the product. Different plant oil polyols have separate properties and are suitable for differentend use applications.
Natural oil polyols can be segregated into soy oil polyol, castor oil polyol, palm oil polyol, canola oil polyol, sunflower oil polyol and others by product type. Soy oil polyol is the most widely used natural oil polyol in the world with high demand from North America and Europe. Castor oil polyol is the sole commercially produced oil, which is naturally polyol and accounts for the second largest demand globally. The market dynamics of the different natural oil polyol types are regulated by their availability in different geographical regions.
Demand for environmentally sustainable alternatives for petroleum derived polyol and advancement in natural oil polyol manufacturing technologies have augured well for the natural oil polyol market. Moreover, the exemplary rise in petroleum price over the last decade has narrowed down the price gap between natural oils and crude oil, thereby improving commercial viability of natural oil polyols. However the major restraining factor for the market is the high growth of natural oil prices. Crop output is also dependent on local agricultural and environmental conditions, which results in certain uncertainty on annual crop production. As most of the natural oil polyol raw materials are mainly used as edible oil, drop in production increases raw material costs. The global natural oil polyol market is expected to exhibit a higher growth rate compared to conventional polyols. The market is expected to grow at a CAGR of 7.1% by volume between 2014 and 2020.
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With about 45% of the market share, North America accounted for the largest demand of natural oil polyol in 2013. The market in North America is dominated by soy oil polyol as it is the most abundant raw material in the region. The Europe market is also dominated by soy oil polyol. However Asia Pacific region, which is expected to grow at a substantially quicker CAGR, is dominated by castor oil polyol and palm oil polyol.
The report gives an in-depth analysis of the natural oil polyol market in terms of volume (kilo tons) and revenue (USD million). In addition, the report also includes current demand analysis and forecast for each product and application segments for both global and regional level. The regions analyzed include North America, Europe, Asia Pacific and Rest of the World.
The report comprises of the following segments:
Natural Oil Polyol Market - Product Segment Analysis
Soy oil polyol
Castor oil polyol
Palm oil polyol
Canola oil polyol
Sunflower oil polyol
Others (Including olive oil polyol, corn oil polyol, mustard oil polyol, etc.)
Natural Oil Polyol Market - Regional Analysis
Rest of the World?
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View this press release online at: http://rwire.com/585142