Green And Bio Polyols Market was accounted at USD 4.0 billion in 2020 and is expected to reach USD 9.6 billion by 2030, at a CAGR of 9.0%. Green polyol & bio polyol are significant raw materials used in the production of polyurethane, coatings, sealants, thermoplastic elastomers, adhesives, and artificial leather. Some of the aspects driving the global green polyol & bio polyol market are execution of strict environmental norms by various governments, and favourable regulations which boost manufacturers to upsurge the green polyol & bio polyol content in their products. The use of green and bio-polyols has been rising in last few years in leather industry, polyurethane, furniture and bedding. Numerous factors, such as consistent supply of bio-based feedstock, the eco-friendly and sustainable nature of bio polyols, and crude oil price fluctuations is expected to  affect the green and bio polyols market directly as well as indirectly. Furthermore, the increasing penetration of bio-based polyols within the automotive and packaging industry and recycling of polyols from foam-based waste are anticipated to supply profitable opportunities for the expansion of the green and bio polyols market. Johnson Controls, a worldwide multi-industrial company with recognised core businesses in the automotive, building and energy storage industries, has opened a new manufacturing plant in Queretaro, Mexico. The plant will produce moulded polyurethane foam for automotive seats.

Market Segmentation:

On the basis of type, green and bio polyols market is divided into polyether and polyester. Based on applications, the market is categorised into polyurethane rigid foam, polyurethane flexible foam, and case. Based on the end user industry the market is distributed into furniture & bedding, automotive, packaging, carpet backing. Based on Geography the market is distributed into regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

The key driving factors for the green and bio polyols market is growing demand from various sectors such as automotive, construction and others. Rising demand for the automotive vehicles, light weight of the material, and growing demand for the better material for the manufacturing will support the development of the market during the forecast period. Owing to the environmentally friendly nature, construction and automotive sectors have been adopting green and bio polyols in various applications. Green and bio polyols are being used in automotive applications such as headrests, seat backrests, insulation purposes armrests, car interior parts, and construction applications including residential, commercial, infrastructure, and other industrial purposes. Furthermore, the lesser cost of polyether polyols in comparison to other substitutes like polyesters further boosts the development of the market globally.

Geographic Analysis:

North America is the fastest-growing market for green and bio polyols, in terms of value as well as volume. The region is the largest market in the world for soybean-based bio polyols. The growing inclination towards the use of eco-friendly solutions containing multiple hydroxyls groups and sustainable materials for the production of polyurethane foams which are used in various end-use applications such as automotive, building & infrastructure, packaging, is anticipated to lead to a high growth rate for the region in the green and bio polyols market. Upcoming market growth is likely to be from developing regions such as Asia Pacific with development of the end-user industries such as automotive and packaging, which are also likely to offer growth opportunities to the market. Particularly, China is one of the prominent producers and exporters of furniture. Green and bio polyols are being used to make carpet backing, artificial leathers, furniture and for bedding applications.

Competitive Scenario:

The major key players dominating the green and bio polyols market include Arkema S.A., BASF SE, Biobased Technologies LLC, Bayer Material Science, Cargill Inc., Emery Oleochemical, Johnson Controls Inc., and Jayant Agro Organics Ltd.

Green and Bio Polyols Market Report Scope