Global Bio-based Polyurethane Market 2016-2020

Overview of the global bio-based polyurethane market

Technavio’s market research analyst predicts that the global bio-based polyurethane market will grow at a CAGR of more than 6% by 2020. The recent increase in the use of refrigeration for medicines, packaged food, and other consumables is accelerating growth in the global bio-based polyurethane market. The panels made with bio-based polyurethane foam provide 30% more insulation per given thickness than expanded polystyrene. Moreover, bio-based polyurethane also offers moisture resistance to ensure the long-term performance of the insulation in a refrigeration panel. Increased use of bio-based polyurethane foams in refrigeration applications will have a positive effect on this market’s growth potential during the forecast period.

In this market research report, analysts have estimated that there will be a shift from the use of petroleum-based polyurethanes towards bio-based alternatives during the forecast period. The fluctuating crude oil prices and growing environmental concerns are the major factors influencing this shift. In addition, many vendors in the market are also replacing traditional petroleum-based raw materials, such as polyols and diisocyanates, with bio-based raw materials derived from vegetable oils. This increase in the awareness and the growing preference for a greener and more sustainable environment is expected to increase the demand for bio-based thermoplastic polyurethane during the forecast period.

Segmentation by application and analysis of bio-based polyurethane market

• Construction
• Automotive
• Electronics
• Bedding and furniture

During 2015, the construction sector was the largest revenue contributing segment in the bio-based polyurethane market and occupied around 35% of the total market share. Factors such as growing emphasis on green infrastructure, innovations in the construction industry, and the development of advanced bio-based polymers are expected to propel this segment's growth over the next four years. 

Geographical segmentation and analysis of bio-based polyurethane market

• Americas
• APAC
• Europe
• ROW

APAC is the largest region in the global bio-based polyurethane market and will continue its dominance over the next four years. Much of this region’s growth comes from the growing demand from bedding and furniture, construction, automotive, footwear, packaging, and electronics industries. Increasing instances of power shortages in the region will lead to the growing use of bio-based polyurethane for insulation.

Competitive landscape and key vendors

At present, the market share of bio-based polyurethane is lower than that of petroleum-based polyurethane owing to the high manufacturing and raw material costs. However, several vendors in the market are collaborating with biotechnology companies for developing advanced biopolymers to decrease the overall production costs. The expansion of manufacturing techniques and advances in manufacturing techniques are expected to create immense growth opportunities for the market during the forecast period.

Key vendors in this market include -

• BASF
• Cargill
• Covestro
• Dow Chemical
• Lubrizol

The other prominent vendors in the bio-based polyurethane market are Hitachi, Mitsui Chemicals, Myriant, RAMPF Polymer, Rhino Lining, and SNP

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global bio-based polyurethane market?
• What are the key market trends impacting the growth of the global bio-based polyurethane market?
• What are the challenges to market growth?
• Who are the key vendors in the global bio-based polyurethane market?
• What are the market opportunities and threats faced by the vendors in the global bio-based polyurethane market?
• Trending factors influencing the market shares of the Americas, APAC, Europe and ROW.
• What are the key outcomes of the five forces analysis of the global bio-based polyurethane market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Thermoplastic Polyurethane Market 2015-2019

Polyurethanes are compounds that are used in a wide array of industrial applications due to their chemical versatility, low cost, and high performance. They find applications in buildings and construction activities, consumer products, furniture and fixtures, transportation, and industrial uses. Traditionally, polyurethane is a downstream derivative of crude oil, which renders it susceptible to fluctuations in the crude oil market. During the forecast period, the adoption of bio-based alternatives for the manufacture of crude oil will be the major factor impelling the prospects for growth in this market.

The report, global bio-based polyurethane market, is part of Technavio’s chemicals and materials research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as additives, adhesives and sealants, agrochemicals and fertilizers, bio-chemicals and bio-materials, chemical engineering equipment, glass and ceramics, industrial gases, metals and minerals, olefins, paints, coatings, and pigments, personal protective equipment, plastics, polymers, and elastomers, and specialty chemicals. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.