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Natural Oil Polyols Market to acquire sustainable gains from automotive applications, growing at a CAGR of 7% up to 2023

Author : Rahul Sankrityayan | Published Date : 2019-04-15 

Global Market Insights, Inc. has added a new report on Natural Oil Polyols Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

Strong application outlook towards biomass derived polyurethane (PU) in automotive, construction and furniture industry should drive global natural oil polyols market size. Technology innovation over the past few years has pushed industry participants towards NOP adoption, in contrast to synthetic counterparts. They are at par in terms of sustainability & longevity as a substitute for petrochemical counterparts.

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Soy oil based polyols dominated demand and generated over USD 1.75 billion in 2015. Ease of processability and abundant raw material availability owing to increasing soy acreages in U.S. and Brazil is estimated to drive product demand. Cargill and Dow have successfully capitalized soy based natural oil polymer market size for manufacturing PU spray foams and insulations.

Castor based NOP should grow significantly owing to key properties such as high purity and resistance towards hydrolysis. Additionally, it is one of the purest commercially available product requiring minimalistic modifications as compared to other counterparts such as soy and palm.

Favorable regulations by REACH and EPA to reduce GHG emissions may favor natural oil polyol market size growth. NOPs production process generates almost 30% less carbon emission and reduces energy demand by around 25% compared petrochemical counterparts.

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Technology innovation for product development in cosmetics and food industry should favor industry growth. Also, industry participants such as BioAmber and Vertellus have invested to develop 100% bio-based polyols for commercial applications. Increasing R&D spending coupled with introduction of 100% bio-based NOP may have lucrative opportunities in near future.

Castor, soy, sunflower and palm are major vegetable oil sources used as NOP feedstock. Increasing application scope in food & biofuel industries may lead to tight raw material supply and affect natural oil polyols market price trend. Majority of vegetable oil production is concentrated in APAC and NOP market price trend in North America and Europe is affected by import duties and regional government policies.

Palm based NOP may witness highest gains in APAC. Increasing infrastructure spending in China and India coupled with key raw materials may fuel regional industry growth.

Natural Oil Polyols (NOP) Market Product Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 - 2023)

  • Soy Oil
  • Castor Oil
  • Palm Oil
  • Canola Oil
  • Sunflower Oil
  • Others

APAC, led by India & China natural oil polyol market size, may observe highest gains may generate over USD 2.75 billion by 2023. Growing industrial application scope in additives, solvents and lubricants owing to increasing bio based product awareness should drive regional demand.

Browse Complete Report Summary @ www.gminsights.com/industry-analysis/natural-oil-polyols-nop-market

Sunflower based NOPs may observe 6.5% CAGR in Europe and surpass 42 kilo tons by 2023. The segment is at its nascent phase owing to low commercial yield for industrial purposes.

Global natural oil polyol market share is technology driven and fairly consolidated. BASF, Cargill, Covestro, Mitsui Chemicals, and Dow Chemical are key industrial players. Other companies include Stepan Company, Huntsman Corporation, BioBased Technologies LLC, Jayant Agro Organics, IFS Chemicals Group, Elevance Renewable Sciences, Emery Oleochemicals, and Lubrizol.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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