The report identifies niche markets, grey areas, market opportunities, new revenue pockets, pain points, burning issues, and top players in the global green and bio polyols market. The bio polyol market is still in its formative years due to which it is imperative for the manufacturers to size up the manufacturing capacities to meet the upcoming demand. The report identifies the upcoming markets and major manufacturing hubs. The major consuming markets are the ones where the use of natural oil based polyol is expected to increase due to regulations and various demand factors. The major manufacturing hot spots are the regions which offer low cost manufacturing facilities. The locations have an advantage owing to the infrastructure facilities, abundant supply of raw material and trained labor at competitive rates.
Currently, most of the major brands of bio based polyols available commercially in the market have a bio content ranging from 5% to 15%. The technological advancements are expected to increase the bio content in polyols to as high as 30% in the next ten years. This is expected to bring down the cost of bio based polyols and also increase its market penetration. Currently, the automotive industry is a major consumer of the bio-based polyols. The auto giants such as Toyota, Ford, Nissan, and Fiat are among the major manufacturers consuming the bio-based polyols. These polyols are used to make polyurethane foams which are used for making auto components such as seats, backrests, and components of the dash board.
Recycling polyol based foams and PET (Polyethylene terepthalate) to generate polyols is understood to be a lucrative opportunity and the demand for the same is expected to grow in the next five to seven years.
The market for bio polyols is dependent on the supply of raw material. The prices of commonly used natural oils such as soya, castor, rapeseed, corn, canola, palm is expected to increase in the coming years. An increase in demand for raw material is expected to lead to more land being brought under cultivation for natural oils. This is expected to compete with the arable land available for growing food crops and lead to an increase in the prices of food crops. However, the technological advancements in the agricultural techniques are expected to increase the per acre productivity of natural oil crops, reducing the competition between food crops and commercial natural oil polyol crops to a certain extent.
Asia-Pacific is currently the fastest growing macro market for green and bio polyols. The market for green and bio polyols in Asia-Pacific was valued at $463.9 million in 2012. China, Japan, Malaysia, and India are the major markets for green & bio polyols in Asia-Pacific. The other markets in Asia-Pacific include Taiwan, South Korea, Singapore, Indonesia, Philippines, and Thailand. The demand for green & bio polyols in these markets is fuelled by the demand from end-user industries such as construction, transportations, and consumer durables.
The report identifies the opportunities for the new entrants in the light of market forces such as consumers’ bargaining strength, raw material sourcing, and market penetration threshold using the Porter’s model. The global green polyol market & bio polyol market is segmented into four macro markets. These are North America, Europe, Asia-Pacific, and RoW. The major market size in these regions such as the U.S., France, Germany, U.K., China, Japan, Malaysia, India, and Brazil are estimated and forecast. The market is also segmented by the various applications of green & bio polyols.
The competitive scenarios of the top players in the green & bio polyol market are discussed in detail. The leading players in the industry such as BASF SE (Germany), The DOW Chemical Company (U.S.), Cargill Inc. (U.S.), Mitsui Chemicals (Japan), Petopur GmBH (Germany), Rampf Ecosystems (Germany), Emergy Oleochemicals (H) SDN BHD (Malaysia), and others .have been identified and profiled in detail.