Polyols are significant in both polymer chemistry and food science, thanks to their number of applications. Two major types of polyols, bio and green polyols have great advantage in terms of revenue and business prospects. Green polyols are made by recycling PET and polyurethane waste. Bio polyols on the other hand are made from natural oils. Both green and bio polyols have numerous applications including polyurethane foams, sealants, coatings, and many others. Growth in the end user applications of these products is driving the global green and bio polyols market. During the next few years, global market is expected to perform well in terms of revenue and global presence.
Researchers categorize green & bio polyols market based on the types of applications, demand from different end user industries, and growth of the industry within various geographic segments. As mentioned before, applications of these products include in the production of coatings, rigid and flexible polyurethane foam, adhesives, sealants, and many other products. Based on the end user industries, the market is categorized into packaging, transportation, construction, carpet manufacturing, paint manufacturing, bedding, furniture, and other industries. On the basis of geographic regions, the global market is divided into Asia Pacific, Europe, North America, and rest of the world.
Green and bio polyols have many advantages, which make them potentially vital with strong economic prospects. Raw materials required for these products, like polyurethane waste and natural oils are easily available. These products provide solution to the rising prices of crude oil. Use of these products helps reducing carbon footprints, which is another strong feature of green and bio polyols. As a result of all these advantages, the global green & bio polyols market is growing at an impressive rate. Rise in the number of applications and rising demand and production for these polyols is creating better business opportunities in the market on global platform. Along with developing countries, the market is rapidly progressing across emerging markets of Asia Pacific, Latin America and rest of the world.
For the coming future, the global market for green and bio polyols is estimated to make healthy growth. According to the market research reports, the market is poised to grow at an estimated CAGR of over 10% from 2013 to 2018. At the estimated CAGR, the market is expected to reach $3,077.0 million by the end of 2018. Currently, North America is the largest market segment, while Asia Pacific is expected to be the fastest growing market segment. In terms of applications, polyurethane flexible foams segment is dominating the global green & bio polyols market. In terms of end user segment, transportation is expected to be the rapidly growing region.