Bio-based Polyurethane Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Polyurethane is used in many likes flexible foam, rigid foam, coatings, adhesives, sealants, and elastomers in a wide range of industry including building & construction, automotive, and electrical & electronics to name a few. For instance, due to its excellent strength-to-weight-ratio, insulation properties, durability, and versatility, it is widely used in the building & construction application. However, changing industry focus towards sustainable production and consumer inclination towards products which are produced using bio-based raw materials is gaining momentum. This has created the demand of bio-based polyurethane for the manufacturing of products like foams and coatings. Therefore, it is expected that with the growth in the construction industry, increasing adoption of green buildings, recovery in the automobile sector along with aim of replacing the fossil-based, non-biodegradable counterparts, the market of bio-based polyurethane would showcase robust growth.

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According to UnivDatos Market Insights (UMI)’ research report “Global Bio-based Polyurethane Market”, the market is expected to showcase growth of over 6% during the forecast period 2021-2027F. Increasing adoption of green or bio-based products from construction industry couple with growing focus on green buildings are some of the key attributable factors for the growth of the market. 

Based on product, the market is categorized into flexible foam, rigid foam, paints & coatings, adhesives & sealants, elastomers, and others. Among these, flexible foam accounted the considerable share in the market and is expected to retain its position in the global bio-based polyurethane market owing to growing construction activities in the developing economies due to rising urbanization, increasing industrialization, and rising consumer income. With the rise in construction activities, demand for bedding, furniture, carpet underlay, and packaging for logistic purpose would also increase, thereby increases the demand of flexible foam. Further, as consumer and manufacturer are moving away from petrochemical based products this in turn is creating the market for bio-based flexible polyurethane foam.

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Based on end-use, the market is categorized into automotive, building & construction, bedding & furniture, footwear, electrical & electronics, and others. Of all, building & construction accounts for significant revenue share in the global bio-based polyurethane industry. Rising energy cost and increasing awareness regarding the benefit of insulating material in home has increased the demand of bio-based polyurethane-based foam in building & construction industry. Further, polyurethane foams are used as carpet underlay, therefore with new construction and renovation activities, demand of bio-based polyurethane would increase during the foreseeable future.

Asia-Pacific accounted for the significant share in the Bio-based Polyurethane market

Based on region, the report provide detail analysis for overall adoption of Bio-based Polyurethane in major region including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Large and growing base of end-use industries of the Asia-Pacific region along with presence of international and local bio-based polyurethane manufacturers are two of the key attributable factors for the growth of the market. The region is led by China which account for the major share due to its large construction and automotive industries. Further, countries like Indonesia and Vietnam are increasingly becoming a major hub for the global footwear market, this in turn increases the demand of polyurethane. Since regional countries are increasingly focusing on exporting their products to gain more margin on products and as in western economies like European countries are looking for bio-based products, thus this is creating more opportunity for the regional manufacturers to replace conventional polyurethane with the bio-based substitute.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Bio-based Polyurethane market are Some of the major players operating in the market include BASF SE, RAMPF Holding GmbH & Co. KG, Covestro AG, Huntsmen International LLC, MCPU Polymer Engineering LLC, The Lubrizol Company, Stahl Holding B.V., and Miracll Chemicals Co. Ltd. These companies are taking several strategic decisions to meet the growing demand and increase their market share.

Some of the instances are:

• In November 2021, BASF SE showcased sustainable product portfolio at UTECH Europe 2021. The company showcase polyurethane-based solutions for the transportation, construction, bedding, and appliance industry

“Global Bio-based Polyurethane Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1. By Product (Flexible Foam, Rigid Foam, Paints & Coatings, Adhesives & Sealants, Elastomers, and Others)
2. By End-Use (Automotive, Building & Construction, Bedding & Furniture, Footwear, Electrical & Electronics, and Others)
3. By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
4. By Company (BASF SE, RAMPF Holding GmbH & Co. KG, Covestro AG, Huntsmen International LLC, MCPU Polymer Engineering LLC, The Lubrizol Company, Stahl Holding B.V., and Miracll Chemicals Co. Ltd.)

Key questions answered in the study:

1. What are the current and future trends of the global Bio-based Polyurethane industry?
2. How the industry has been evolving in terms of products and end-use?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global Bio-based Polyurethane industry?
5. What are the customer orientation, purchase behavior, and expectations from the global Bio-based Polyurethane suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL BIO-BASED POLYURETHANE MARKET COVID-19 IMPACT

6 GLOBAL BIO-BASED POLYURETHANE MARKET REVENUE (USD MN), 2019-2027F

7 MARKET INSIGHTS BY PRODUCT

8 MARKET INSIGHTS BY END-USE

9 MARKET INSIGHTS BY REGION

10 BIO-BASED POLYURETHANE MARKET DYNAMICS

11 BIO-BASED POLYURETHANE MARKET OPPORTUNITIES

12 BIO-BASED POLYURETHANE MARKET TRENDS

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER

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