The Business Research Company's Natural Oil Polyols Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
Strong Future Growth Anticipated
The natural oil polyols market is projected to continue its strong growth, reaching $10.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to increasing consumption of bio-based polyurethane foams, increasing demand for lightweight and highly durable products, increasing environmental concerns, rising product demand for natural polyols, and shifting trend toward reducing reliance on petrochemicals.
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Growth Driver Of The Natural Oil Polyols Market
The increasing demand in the automotive sector is expected to propel the growth of the natural oil polyols market going forward. The automotive sector denotes the escalating demand for vehicles and associated products, propelled by increasing incomes, urbanization, technological progress, and population expansion. Natural oil polyols help the automotive sector by providing sustainable and environmentally friendly alternatives for producing polyurethane foams, coatings, and adhesives, enhancing fuel efficiency through lightweight materials, and reducing the carbon footprint of vehicle manufacturing.
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Major Players And Market Trends
Key players in the natural oil polyols market include Shell Chemicals, Cargill Incorporated, Mitsui Chemicals Inc., BASF SE, Repsol S.A, The Dow Chemical Company, Wanhua Chemical Group, Covestro AG, Evonik Industries AG, Arkema, Huntsman International LLC., Chevron Phillips Chemical Company LLC.
Major companies operating in the natural oil polyols market are developing products from bio-circular raw materials to enhance sustainability and reduce environmental impact. The polyols are produced using the mass balance approach, which involves mathematically attributing renewable raw materials from biowaste and plant residues to the product.
Segments:
1) By Type: Polyester Oil, Polyether Oil
2) By Application: Polyurethane Foams, Metallic Coatings, Cushioning, Feed Stocks, Bakery Products, Other Applications
3) By End-User: Construction, Automobile, Food, Transportation, Other End-Users
Geographical Insights: North America Leading The Market
North America was the largest region in the natural oil polyols market in 2023. The regions covered in the natural oil polyols market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Natural Oil Polyols Market Definition
Natural Oil Polyols (NOPs), also known as biopolyols, are polyols derived from natural oils and fats. These oils and fats are typically sourced from renewable agricultural products such as soybean oil, castor oil, palm oil, sunflower oil, and rapeseed oil. The polyols are produced by chemically modifying natural oils, often through processes such as epoxidation and ring-opening polymerization, to create polyol molecules with hydroxyl groups that can react with isocyanates to form polyurethanes.
Natural Oil Polyols Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Natural Oil Polyols Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on natural oil polyols market size, natural oil polyols market drivers and trends, natural oil polyols market major players, natural oil polyols competitors' revenues, natural oil polyols market positioning, and natural oil polyols market growth across geographies. The natural oil polyols market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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