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Soy polyols are vegetable-oil based polyols. Soy polyols are important industrial prepolymeric materials that use renewable resources. Soy polyols react with isocyanates to produce polyurethane foams such as rigid, flexible, and semi-rigid foams. Soy polyols are produced at a lower cost than polyols derived from petrochemicals. Several of the processes such as bio catalysis, transesterification, and polymerization are utilized to increase equivalent weights and hydroxyl functionality of soy-based polyols that are used in polyurethane formulations. These polyurethanes have different valuable properties, determined by their chemical composition and cross-linking density. 

In terms of application, the soy polyols market can be segmented on polyurethane formation, and industrial applications such as coatings, adhesives, sealants, elastomers, flexible molded, rigid molded, slabstock, and spray foam insulation applications. Increasing awareness regarding soy polyols in various industrial applications such as lubricants, additives, and solvents is expected to drive the global market during the forecast period. Of all the applications, the most dominant application of the soy polyols is in the production of the polyurethane foams. Polyurethane foams are of many sub segments such as flexible, rigid, and semi-rigid. Flexible polyurethane foam is currently the dominant application segment of the soy polyol market. Increasing adoption and preference for the usage of bio based materials across the world has led to the rise in usage of renewable and sustainable products. Soy polyols in the polyurethane flexible foam application, is escalating due to its growing consumption of the polyurethane foams for the manufacture of automotive seats, beddings, and other consumables.

The primary driver for the soy polyol market is the low price of the polyurethane products which are based on these polyols and the environmental friendly nature of these polyols. Soy polyols perform like their petrochemical counterparts and in some cases, soy polyols based foams are even enhanced with lighter weight, more strength, and better durability. Presently, greenhouse gas (GHG) emissions is a major concern. Increased usage of petrochemical-based products is leading to the emission of considerable amounts of VOCs, thereby degrading the environment. Several government initiatives to reduce the emissions of the VOCs is also boosting the soy polyols market. Volatile petroleum prices over the last few years is anticipated to boost the demand for soy polyols during the forecast period.

In terms of region, the soy polyols market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the dominant market for soy polyols. This is due to the rising preference for and consumption of materials and chemicals that have a lower carbon impact and those that are recyclable or derived from non-polluting resources. Asia Pacific is a prominent vegetable oil producing region in the world, and thus holds a major share of the global soy polyols market. Countries in Southeast Asia such as Malaysia, Thailand, and Indonesia hold a major share in the production of these vegetable oils. The market in Latin America and Middle East & Africa is also anticipated to expand at a significant growth rate during the forecast period. Expansion of the construction industry coupled with the increase in automobile sale is estimated to drive the sol polyols market in Latin America.

Key companies operating in the global soy polyols market include Cargill, and Honeybee Polyol, and BioBased Technologies, LLC. 

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
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  • 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
  • Europe
  • 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.

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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?

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Soy Polyols Market

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