The natural oil polyols global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Natural Oil Polyols Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The natural oil polyols market size has grown strongly in recent years. It will
grow from $6.99 billion in 2023 to $7.55 billion in 2024 at a compound annual
growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed
to rise in disposal income of consumers, rise in R&D activities, increased
demand for its multitudinous applications, growth in consumption in the
automotive sector, and increased awareness of the benefits of eco-friendly
products.
The natural oil polyols market size is expected to see strong growth in the
next few years. It will grow to $10.3 billion in 2028 at a compound annual
growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed
to increasing consumption of bio-based polyurethane foams, increasing demand
for lightweight and highly durable products, increasing environmental concerns,
rising product demand for natural polyols, and shifting trend toward reducing
reliance on petrochemicals. Major trends in the forecast period include growing
preference for beauty and skin care products, demand for sustainable and
environmentally friendly solutions, shift towards bio-based and eco-friendly products,
increased demand for lightweight and durable products, and advancements in
extraction techniques and research and development.
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Scope Of Natural Oil Polyols Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Natural Oil Polyols Market Overview
Market Drivers -
The increasing demand in the automotive sector is expected to propel the growth
of the natural oil polyols market going forward. The automotive sector denotes
the escalating demand for vehicles and associated products, propelled by
increasing incomes, urbanization, technological progress, and population
expansion. Natural oil polyols help the automotive sector by providing
sustainable and environmentally friendly alternatives for producing
polyurethane foams, coatings, and adhesives, enhancing fuel efficiency through
lightweight materials, and reducing the carbon footprint of vehicle
manufacturing. For instance, in February 2023, according to the European
Automobile Manufacturers Association, a Belgium-based lobbying and standards
group of the automobile industry, in 2022, over 68 million passenger cars were
produced globally, marking a 7.9% increase compared to the previous year.
Therefore, the increasing demand in the automotive sector is driving the growth
of the natural oil polyols market.
Market Trends -
Major companies operating in the natural oil polyols market are developing
products from bio-circular raw materials to enhance sustainability and reduce
environmental impact. The polyols are produced using the mass balance approach,
which involves mathematically attributing renewable raw materials from biowaste
and plant residues to the product. For instance, in September 2022, Covestro
AG, a Germany-based materials manufacturing company, launched sustainable
polyether polyols based on bio-circular raw materials. This approach allows for
gradually substituting fossil-based raw materials with bio-circular
alternatives, reducing the carbon footprint compared to traditional fossil
fuel-based products. The production process employs the mass balance approach,
which involves allocating renewable precursors to the products by calculation.
This method ensures that the bio-circular raw materials are accurately
attributed to the final products.
The natural oil polyols market covered in this report is segmented –
1) By Type: Polyester Oil, Polyether Oil
2) By Application: Polyurethane Foams, Metallic Coatings, Cushioning, Feed
Stocks, Bakery Products, Other Applications
3) By End-User: Construction, Automobile, Food, Transportation, Other End-Users
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Regional Insights -
North America was the largest region in the natural oil polyols market in 2023.
The regions covered in the natural oil polyols market report are Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, Middle East,
Africa.
Key Companies -
Major companies operating in the natural oil polyols market are Shell
Chemicals, Cargill Incorporated, Mitsui Chemicals Inc., BASF SE, Repsol S.A,
The Dow Chemical Company, Wanhua Chemical Group, Covestro AG, Evonik Industries
AG, Arkema , Huntsman International LLC., Chevron Phillips Chemical Company
LLC, Stepan Company, Croda International Plc, Ingevity Corp. , Perstorp Holding
AB, Sanyo Chemical Industries Ltd., Kukdo Chemical Co. Ltd., Jayant Agro
Organics Ltd., Oleon NV, Emery Oleochemicals, Elevance Renewable Sciences Inc.,
Inolex Inc., Novomer Inc., DAICEL ChemTech Inc
Table of Contents
1. Executive Summary
2. Natural Oil Polyols Market Report Structure
3. Natural Oil Polyols Market Trends And Strategies
4. Natural Oil Polyols Market – Macro Economic Scenario
5. Natural Oil Polyols Market Size And Growth
…..
27. Natural Oil Polyols Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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