The Global Bio-Based Polyurethane Market is forecast to reach USD 96.1 Million by 2027, according to a new report by Reports and Data. The developing shift in demand for bioplastics under ecological concerns will drive worldwide bio-based PU market throughout the forecast period. The growing interest in economic items from infrastructure, automotive, and footwear sectors is likewise expected to impact showcase development. Complex assembling procedures and significant expense contrasted with its engineered partner are required to stay a key test for bio-PU advertise members.
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Key players in the bio-based polyurethane market include:
• The Dow Chemical Company
• Mitsui Chemicals
• Rampf Ecosystems
• Johnson Controls, Inc.
• Biobased Technologies
• Rhino Linings
• Hitachi Chemical Company
Adaptable foams were the most significant product section and represented 49% of total market volume in 2019. Expanding requests from car and furniture ventures combined with the buyer’s move towards the reception of bio-based items is relied upon to drive this section. The adaptable foam is likewise expected to observe the most elevated development rate throughout the following six years.
Bio-Based Polyurethane Market: Segmentation
For the purpose of this report, Reports and Data has segmented the Global Bio-Based PU Market on the basis of raw material, application, end-use, and region:
Raw Material Outlook (Revenue, USD Million; Volume, Tons; 2017-2027)
• Vegetable Oils
• Cashew nut shell liquid (CNSL)
• Eucalyptus tar
Application Outlook (Revenue, USD Million; Volume, Tons; 2017-2027)
• Rigid Foams
• Flexible Foams
End-Use Outlook (Revenue, USD Million; Volume, Tons; 2017-2027)
• Furniture & Interiors
Regional Outlook (Revenue, USD Million; 2017-2027)
• North America
– Rest of Europe
• Asia Pacific
– Rest of Asia Pacific
• Latin America
– Rest of Latin America
• Middle East & Africa
– Saudi Arabia
– Rest of Middle East & Africa
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The Asia Pacific region was the biggest producer of bio-based polyurethane and accounted for 33% of the total volume produces in 2019. Accessibility to engineered diisocyanates and increasing production capacities of local bio-PU manufacturers are driving market growth in the region.
The local market is projected to observe the most notable development over the estimated time frame because of expanding infrastructure spending, particularly in rising economies like China, India, and Japan. The development of the automotive sector may likewise prompt development sought after by bio-polymers manufacturers in this region.
Government guidelines in nations, for example, the U.S., the U.K., France, Germany, for increasing use of bio-based substances in plastic items, have positively affected bio-based PU market development.
COVID-19 Impact on Bio-Based Polyurethane Market:
COVID-19 has negatively affected the market. Owing to the imposition of lockdown and social constraints, lower market demand for lifestyle and wellness products would have a negative impact on the demand for cosmetics and certain food additives. Along with the public building, the COVID-19 pandemic has devastated different industries. Owing to the imposition of lockout and social distancing, the operation will most likely cease and work will stop due to interruption of the supply chain, the termination of control cost contracts, and the lack of subcontractors and materials. The ease of restrictions and government measures to launch economic activity in the consumer goods industry, however, generates hope for an eventual market recovery.
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