Bio-based Polyurethane Industry Overview

The global bio-based polyurethane market size was valued at USD 34.73 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028.

Factors, such as the rising number of green building construction projects and increasing product demand from the automotive industry, boost the market growth. Bio-based polyurethane (PU) coatings are utilized in construction, wood, textile, automotive, and other end-uses to improve the appearance and durability of a product. Bio-based polyurethane resins are derived from the reaction of natural oils, such as castor, soybean, and sunflower, with diisocyanates. These resins are utilized for various applications, such as rigid and flexible foams, coatings, adhesives, sealants, elastomers, membranes, and fibers across end-use industries including automotive, building & construction, electrical & electronics, packaging, and consumer goods.

To cater to the rising demand for green buildings, bio-based polyurethane foams are being utilized as an efficient insulation material, leading to higher energy savings. These foams are widely used in spray form for sealing the holes, cracks, joints, and boding other building materials, ultimately reducing the amount of conditioning or heat required inside the building. On the other hand, low prices of conventional polyurethane are keeping bio-based polyurethane from achieving competitive pricing, which may hamper the market growth.

Gather more insights about the market drivers, restrains and growth of the Global Bio-based Polyurethane Market

However, increasing concerns regarding toxic issues pertaining to petrochemicals along with depleting crude oil reserves have been driving the development of bio-based polymers like bio-based polyurethane. Regulations imposed by most governments restricting the consumption of petroleum-based plastics in certain end-uses like medical devices are expected to further incentivize the production of bio-based polyurethane during the forecast period.

Major players continuously use technological advancements for introducing new, advanced products. For instance, in September 2020, Covestro AG teamed up with FoamPartner, a Swiss company, to develop foams that are partially based on CO2. Carbon dioxide is used as a raw material to produce polyol instead of fossil raw materials, such as crude oil. CO2 polyol available under the Cardyon brand name is used as a raw material by FoamPartner to produce polyurethane foams for various parts used in the vehicle interior.

Browse Through Grand View Research’s Plastics, Polymers And Resins Industry Research Reports.

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Bio-based Polyurethane Market Segmentation

Grand View Research has segmented the global bio-based polyurethane market based on product, end-use, and region:

Bio-based PU Product Outlook (Volume, Tons; Revenue, USD Thousand, 2017 – 2028)

• Rigid Foam

• Flexible Foam

• Coatings, Adhesives, & Sealants

• Others

Bio-based PU End-use Outlook (Volume, Tons; Revenue, USD Thousand, 2017 – 2028)

• Automotive

• Building & Construction

• Consumer Goods

• Electrical & Electronics

• Packaging

• Others

Bio-based PU Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2017 – 2028)

• North America

• Europe

• Asia Pacific

• Central & South America

• Middle East & Africa

Key Companies profiled:

Some prominent players in the Global Bio-based Polyurethane Market include

• BASF SE

• MCNS

• RAMPF Holding GmbH & Co. KG

• Covestro AG

• Cargill, Inc.

• Huntsman International LLC

• MCPU Polymer Engineering LLC

• WeylChem International GmbH

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