Green Polyols Market: Highlights
- Green polyols are eco-friendly alcohol solutions that contain multiple hydroxyl groups. They are derived from recycled polyethylene terephthalate (PET) and polyurethanes. These alcohol solutions are widely used in furniture & bedding, automotive, and construction industries.
- Green polyols provide enhanced hydrolytic stability and adhesion to diverse substrates. They also improve abrasion resistance and overall hardness. Common end-uses of green polyols include liquid and hot melt urethane adhesives, flexible packaging, insulating sealants, polyurethane dispersions, cast elastomers, and conventional-cure coatings.
Key Drivers of Green Polyols Market
- Increase in demand for green polyols in construction activities is expected to boost the market during the forecast period. According to the U.S. Census Bureau, the U.S. Government spent approximately US$ 1,303,469 Mn in overall construction activities in 2019. Thus, growth in the construction industry is anticipated to propel the demand for green polyols in the near future.
- Rise in usage of green polyols in the automotive industry is also estimated to propel the market in the near future. The automotive industry in India produced 30,915,420 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycles in April-March 2019 compared to 29,094,447 in April-March 2018, registering a growth rate of 6.26% over the same period in the last year.
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Higher Costs of Green Polyols to Restrain Green Polyols Market
- The global green polyols market is expanding at a rapid pace. However, higher costs of green polyols than those of conventional polyols is a key factor restraining the market.
- Increase in crop productivity by artificial means is resulting in negative environmental impact such as increase in carbon footprint and depletion of nutrients from the soil. This is also estimated to restrain the market in the near future.
Green Polyols Market: End-use Industry Segment
- Based on end-use industry, the global green polyols market can be segmented into furniture & bedding, construction/insulation, automotive, packaging, carpet backing, and others
- The furniture & bedding segment is projected to account for key share of the global green polyols market by 2027
- Expanding at a healthy growth rate, construction/insulation, automotive, and packaging segments are expected to create significant incremental opportunities during the forecast period
- In terms of volume, carpet backing and others segments are likely to remain moderate to high across different regions in the near future
North America to be Key Region of Global Green Polyols Market
- In terms of region, the global green polyols market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Consumption of green polyols is much higher in North America than that in other regions.
- In terms of demand, Asia Pacific and Europe follow the market in North America
- The U.S. is the largest country of the green polyols market in North America. It accounted for a major share of the market in terms of volume and value in 2018. Rise in usage of green polyols in construction, transportation, furniture, adhesives, sealants, and binders is expected to drive the market in the region. Easy availability of soybean in the U.S. enables manufacturers to produce soy-based polyols, thereby driving the consumption of green and bio-polyols in North America.
- Asia Pacific also held significant share of the global green polyols market in 2018. Growth in end-use industries and increase in number of domestic players in vertical market segments are boosting the market in the region.
- The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period
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Key Manufacturers Operating in Green Polyols Market
The global green polyols market was highly fragmented in 2018. Key manufacturers operating in the global market include:
- Bayer AG
- BioBased Technologies LLC
- BASF SE
- Cargill, Incorporated
- The Dow Chemical Company
- Stepan Company
- Emery Oleochemicals
- Jayant Agro Organics Pvt. Ltd.
Global Green Polyols Market: Research Scope
Global Reactive Adhesives Market, by Type
- Polyether Polyols
- Polyester Polyols
Global Reactive Sealants Market, by Application
- Polyurethane Rigid Foam
- Polyurethane Flexible Foam
Global Reactive Sealants Market, by End-use Industry
- Furniture and Bedding
- Carpet Backing
- Others (Textiles & Clothing and Engineered Components)
Global Green Polyols Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.