The natural oil polyols from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Natural Oil Polyols Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The natural oil polyols market size has grown strongly in recent years. It will grow from $6.99 billion in 2023 to $7.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rise in disposal income of consumers, rise in R&D activities, increased demand for its multitudinous applications, growth in consumption in the automotive sector, and increased awareness of the benefits of eco-friendly products.
The natural oil polyols market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include growing preference for beauty and skin care products, demand for sustainable and environmentally friendly solutions, shift towards bio-based and eco-friendly products, increased demand for lightweight and durable products, and advancements in extraction techniques and research and development.
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Scope Of Natural Oil Polyols Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Natural Oil Polyols Market Overview
Market Drivers -
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. For instance, in February 2023, according to the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group of the automobile industry, in 2022, over 68 million passenger cars were produced globally, marking a 7.9% increase compared to the previous year. Therefore, the increasing demand in the automotive sector is driving the growth of the natural oil polyols market.
Market Trends -
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. For instance, in September 2022, Covestro AG, a Germany-based materials manufacturing company, launched sustainable polyether polyols based on bio-circular raw materials. This approach allows for gradually substituting fossil-based raw materials with bio-circular alternatives, reducing the carbon footprint compared to traditional fossil fuel-based products. The production process employs the mass balance approach, which involves allocating renewable precursors to the products by calculation. This method ensures that the bio-circular raw materials are accurately attributed to the final products.
The natural oil polyols market covered in this report is segmented –
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
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Regional Insights -
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.
Key Companies -
Major companies operating in the natural oil polyols market are 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, Stepan Company, Croda International Plc, Ingevity Corp. , Perstorp Holding AB, Sanyo Chemical Industries Ltd., Kukdo Chemical Co. Ltd., Jayant Agro Organics Ltd., Oleon NV, Emery Oleochemicals, Elevance Renewable Sciences Inc., Inolex Inc., Novomer Inc., DAICEL ChemTech Inc
Table of Contents
Executive Summary
Natural Oil Polyols Market Report Structure
Natural Oil Polyols Market Trends And Strategies
Natural Oil Polyols Market – Macro Economic Scenario
Natural Oil Polyols Market Size And Growth
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Natural Oil Polyols Market Competitor Landscape And Company Profiles
Key Mergers And Acquisitions
Future Outlook and Potential Analysis
Appendix
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