Global Green and Bio Polyols Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Green and Bio Polyols Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Green polyols and bio polyols are eco-friendly organic alcohol solutions containing multiple hydroxyl groups. Green polyols are derived from polyurethanes and polyethylene terephthalates. Bio polyols are derived from oils such as canola oil, castor oil, coconut oil, corn oil, rapeseed oil, palm oil, and soya bean oil.

Market Overview:

The latest research study on the global Green and Bio Polyols market finds that the global Green and Bio Polyols market reached a value of USD 3557.63 million in 2022. It’s expected that the market will achieve USD 5008.18 million by 2028, exhibiting a CAGR of 5.87% during the forecast period.

Bio-Based Polyurethane Market Developments

Polyurethane (PU), as a synthetic polymer material, plays a very important role in life and industry because of its good mechanical properties, heat insulation, and chemical resistance. Polyurethane materials are mainly divided into foam porous materials and non-porous materials, which can be further subdivided into foams, elastomers, sealants, adhesives, coatings, thermosetting and thermoplastic materials, etc., and are widely used in packaging, construction, furniture, automobiles, etc., bedding, biomedical and thermal insulation materials, and other fields. However, polyols and isocyanates, two major raw materials for the production of polyurethane, are currently mainly derived from petroleum resources. With the depletion of petroleum resources and the aggravation of environmental problems, the preparation of polyurethane from green and renewable biomass resources has become one of the important directions for the development of the emerging materials industry and biomass industry. Compared with petroleum-based polyurethane raw materials, bio-based polyurethane raw materials have lower toxicity, more abundant sources, and lower prices, which are conducive to the expansion of industrial production scale and the reduction of production costs. Bio-based PU can combine the green, environment-friendly, resource-saving characteristics of bio-based materials with the advantages of PU applications. At present, with the development of green environmental protection, the demand for bio-based polyurethane materials in the fields of Furniture and Bedding, Construction/Insulation, Automotive, and Packaging continues to expand, and the market scale continues to grow. For example, under normal circumstances, polyurethane rigid foam products can be used for heat insulation and other modern construction activities, while saving energy and reducing emissions, while ensuring the comfort of living in the house. In the field of construction, bio-based polyurethane can replace traditional petroleum polyurethane. Green and Bio Polyols are the main raw materials for the production of bio-based polyurethanes, therefore, the growth of the bio-based polyurethane market is one of the driving factors driving the industry.

Green and Bio Polyols have a wide range of raw materials

As more and more people are keen on low-carbon life and environmental protection materials, bio-based environmental protection materials have been widely concerned and applied. The biomass raw materials used in the preparation of Green and Bio Polyols are rich in resources, mainly including vegetable oil, starch, sucrose, lignin, cellulose, turpentine, etc. Biomass raw materials can generate Green and Bio Polyols through esterification reaction, epoxidation reaction, addition reaction, liquefaction, high-temperature degradation and other reactions. The raw materials for the synthesis of vegetable oil polyols include rapeseed oil, soybean oil, olive oil, palm oil, tung oil, castor oil, jatropha oil, pistachio oil, etc. In general, compared with traditional petroleum-based polyols, Green and Bio Polyols has a wide range of raw materials, which are easily available and renewable. This will be one of the important factors driving the development of the industry.

Synthesis and Application Technical Difficulties

At present, the synthesis and application of Green and Bio Polyols still face a series of problems. First of all, in terms of synthesis technology, the main component of woody vegetable oils is unsaturated mixed fatty acid glycerides, and its molecular structure contains unsaturated double bonds and ester bonds. In the actual production process, it is faced with catalytic technical difficulties in the process of double bond utilization and technical difficulties in the process of ester bond utilization. The technical difficulty in the synthesis of Green and Bio Polyols is one of the challenges facing the development of the industry market. In addition, in terms of application technology, in view of the characteristics of bio-based polyols such as long carbon chain and low degree of branching, it is necessary to develop a suitable formulation system to ensure product quality stability. The difficulties faced by Green and Bio Polyols in the field of application technology are also one of the challenges facing the development of the industry.

Region Overview:

In 2022, the share of the Green and Bio Polyols market in North America stood at 34.13%.

Company Overview:

The major players operating in the Green and Bio Polyols market include BASF SE, DOW Chemical Company, Covestro, Cargill, Emery Oleochemicals, etc. Among which, BASF SE ranked top in terms of sales and revenue in 2023.

We continuously seek for more sustainable solution sourcing from nature.

As bio-based polyols, Sovermol® has been specially designed for application in flooring coating, waterpipe coating, adhesive and putty applications. It aids to safe and clean pipe surface for drinking water; it provides comfortable, elastic and reliable flooring coating for gyms or kindergartens; it offers green protection to our wind energy equipment for clean energy to enlighten our home and life with be-loved family. Furthermore, Sovermol® can be used to formulate low VOC or solvent-free coating system as well as alternative coating for BPA containing epoxy system in certain applications.
Sovermol® products are polyfunctional alcohols made of renewable raw materials such as rapeseed oil, castor oil, soybean oil and palm kernel oil. Based on BASF advanced technology, Sovermol® is added 2 functional groups Polyester and Polyester in one molecule which well balance Hydrolysis stability and Hydrophobic properties respectively. This uniqueness enriches Sovermol® properties like good adhesion, excellent workability and good weathering.
These natural oil-based polyos help you to comply with environmental standards while meeting even the toughest coating requirements. What’s more – improving the environmental profile of your process will make your products more attractive to both existing and new potential customers.

A high functionality, EO capped, polyether product. Its high molecular weight, functionality and high primary hydroxyl content make it well suited for high resilience, flexible molded foams.

Segmentation Overview:

By type, Soybean oil segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Furniture and Bedding segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Green and Bio Polyols market covered in Chapter 3:

Huntsman Corporation
Covestro
Koch Industries(Invista)
Stepan Company
Alberdingk Boley
Cargill
BASF SE
Roquette
Vithal Castor Polyols
Emery Oleochemicals
Wanhua Chemical Group Co.,Ltd
Polygreen Chemicals
DOW Chemical Company
Saudi Aramco

In Chapter 4 and Chapter 14.2, on the basis of types, the Green and Bio Polyols market from 2018 to 2029 is primarily split into:

Soybean oil
Castor Oil
CO2
Sucrose
Recycled Polymers

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Green and Bio Polyols market from 2018 to 2029 covers:

Furniture and Bedding
Construction/Insulation
Automotive
Packaging
Carpet Backing
Engineered Components

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)