Title: Bio Polyols Market - Forecast(2021 - 2026)
1Bio Polyols Market - Forecast(2021 -
2026)Market size, Industry outlook, Market
Forecast, Demand Analysis, Market Share, Market
Report 2021-2026
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- Bio Polyols market size is forecast to
reach US7.8 billion by 2026, after growing at
a CAGR of 10.2 during 2021-2026. The increasing
awareness about the environment and the rising
prices of petroleum are the reasons for soaring
demand of bio polyols. - Bio polyols, also known as natural oil polyols,
are polyols derived from vegetable oils. A
polyol is an organic compound containing multiple
hydroxyl groups. Bio polyols are extracted from
natural oils like castor oil, soybean oil, canola
oil, coconut oil and others. Out of these oils
only castor oil is the only commercially
available bio polyol that is produced directly
from a plant source while the others require
chemical modifications.
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Key Takeaways
- North America dominates the bio polyols market,
owing to the increase in production of soy-based
polyols which result in increased usage of bio
polyols in the region. - Increasing applications for environmentally
friendly polyols in various end use industries
notably in automobiles, technological
advancements in the construction industry are
expected to drive the demand for bio polyols
through the years to come
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- By Distribution Channel- Segment Analysis
- The soy-based segment held the largest share in
the bio polyols market in 2020 and is expected to
grow at a CAGR of 8.9 during the forecast
period. The polyether polyols segment held the
largest share of more than 55 in the bio polyols
market in 2020.Polyether polyols are the key
components used in the production of
polyurethanes.The foam segment held the largest
share in the bio polyols market in 2020.The
construction industry held the largest share of
more than 22 in the bio polyols market in
2020. North America held the largest share in the
bio polyol market in 2020 up to 35. The US is
North America's largest market for bio polyols,
which accounted for a major share of the industry
in 2020.
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- Bio Polyols Market
- Industry Outlook
- Arkema S.A.
- Global Bio Chem Technology Group Co. Ltd.
- The Dow Chemical Company
- BASF S.E
- Stepan Company
- Bayer Material Science
- Mitsui Chemicals Inc.
- Bio Based Technologies Llc
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