This growth is attributed to the eco-friendly and sustainable nature of bio polyols and the consistent supply of bio-based feedstock, while crude oil price fluctuations place limitations on the use of petroleum based polyols. Polyether polyols is the largest by type market in the global green and bio polyols market, followed by polyester polyols. Polyester was majorly used earlier, but the demand for polyether polyols rose subsequently due to its effective and substantial usage in the production of various plastic products. The lower price of polyether polyols in comparison to polyester polyols is expected to further boost its demand in the green and bio polyols market.
The North American region was the largest market for green and bio polyols, in terms of both, value and volume, in 2015. This is due to the growing preference for and consumption of materials and chemicals that have a lower carbon impact and that are recyclable or derived from non-polluting resources. Green and bio polyols are thus an obvious answer as substitutes for crude-based polyols. Moreover, stringent environmental regulations associated with the use of crude oil based polyols and volatility in crude oil prices has led to the increasing production of plastics from green and bio based polyols. Therefore, the region is expected to continue to hold the largest market share in terms of value in the green and bio polyols market.
Green and bio polyols manufacturers such as Bayer AG (Germany), BioBased Technologies LLC (U.S.), BASF SE (Germany), Cargill Inc. (U.S.), The Dow Chemical Company (U.S.), Stepan Company (U.S.), Emery Oleochemicals (M) Sdn Bhd (Malaysia), Jayant Agro-Organics Limited (India), Global Bio-chem Technology Group Company Limited (Hong Kong), and E. I. du Pont de Nemours and Company (U.S.), are covered in the market report.
Facebook Conversations