Green and bio polyols are alcoholic solutions made from recycled polyethylene terephthalate (PET) and polyurethanes which are environment-friendly raw materials. They are bio-based polyols of excellent quality that are employed in a variety of types such as polyurethane, thermoplastics elastomers, adhesives, coatings, and artificial leather. Renewable resources such as soy oil and palm oil are used to make green and bio polyols.
According to a market report published by Bizwit Research & Consulting, LLP, Global Green & bio polyols Market is valued at approximately USD 4.51 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.76% over the forecast period 2021-2027.
Increasing demand from the automotive industry, rising use of polyurethane foam in packaging, and growing demand for home décor furnishing are driving the market growth in the forthcoming period. Whereas rapid growth of green & bio polyols from the construction sector and favorable initiatives from the private players are creating a lucrative opportunity for the market growth. However, health hazards from polyols are expected to restrict market growth.
Growing demand for green and bio polyols for roof and wall insulation is driving the market growth in the forthcoming period. For good thermal management, polyurethane rigid foam is utilized in the insulation of walls, roofs, panels, and doors. According to our study, heating and cooling use around half of the energy used in the life of a building in the United States. According to research conducted by the US Department of Energy, residential and commercial buildings utilize 40% of all energy. As a result, effective building insulation can result in lower energy use, helping to minimize carbon emissions. Furthermore, energy conservation rules and regulations governing energy-efficient structures are promoting the demand for rigid polyurethane foam in building and construction. Polyurethane foam is an excellent choice for insulation since it saves a significant amount of energy and so helps to reduce CO2 emissions. As a result, rising demand for polyurethane foams from the construction and automotive industries is pushing up demand for green and bio polyols.
Global Green & bio polyols Market Size study, by type of raw material (Natural oil & their derivatives, sucrose, carbon dioxide, and recycled polymers), by type (polyether polyols and polyester polyols), by application (Pu rigid foam, Pu flexible foam, and coating, adhesives, sealants, and elastomers), by end-use industry (furniture & bedding, automotive, construction, packaging, carpet backing, and others) and Regional Forecasts 2021-2027
The total market revenue is calculated on the basis of revenue generated through the sales of green and bio polyols products. Major companies covered under the report include The J.M. Smucker Company, The Hartz Mountain Corporation, Mars Incorporated, Stepan Company, Covestro AG, Biobased technologies LLC, Emery Oleochemical, Jayant Agro Organic Pvt. Ltd., Biochem technology group, and Du point. Other popular regional players across various countries are also considered for revenue calculation.
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