Pune, India, April 13, 2022 (GLOBE NEWSWIRE) -- Natural Oil Polyols Market is anticipated to grow at a steady growth rate over the forecast period, owing to ongoing production trend of bio-based and eco-friendly products along with the rising usage of polyols industrial applications, such as lubricants, solvents, and additives. Natural oil polyols (NOPs) or biopolyols, are polyols that are derived from vegetable oils by various techniques. The major vegetable oil sources, including sunflower oil, castor oil, soy oil, and palm oil, are rapidly being used as natural oil polyols feedstock.
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On the other hand, natural oil polyols are seeing extensive range of applications in different industries including construction, food, electronic appliances, packaging, furniture & interiors, foot wear, transportation, and automotive.
Key Insights & Findings:
- The soy oil polyols segment led the natural oil polyols market and valued at USD 2.59 Billion in 2020. This is mainly due to upsurge in demand for soy oil polyols for use in food and animal feed along with the alternative industrial applications including fuel additive and other polymers. However, castor oil segment is anticipated to witness highest growth during the forecast period.
- The construction segment accounted for the largest market share and valued at USD 2.28 Million in 2020. Huge adoption of polyurethanes in the construction of walls and roofs of buildings drives growth of this segment. In addition, surge in construction activities is projected to create lucrative growth opportunities for this segment.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region emerged as the largest market for the natural oil polyols market and valued at USD 2.98 Billion in 2020. The number of factors such as the high availability of Soy in U.S.; supportive government regulations; and surge in biofuel demand drives growth of the North America natural oil polyols market. Asia-Pacific region is anticipated to grow at prominent CAGR over the forecast period, due to the rising spend on infrastructure development across the countries such as India and China.
Key players operating in the global natural oil polyols market are Stepan Company, BASF SE, Emery Oleochemicals, Cargill Inc., Biobased Technologies, Vertellus, IFS Chemicals Group, Huntsman Corporation, Dow Chemical Company, and Emery Oleochemicals among others. To enhance their market share in the global natural oil polyols market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in September 2021, Cargill acquired Arkema’s epoxides business which includes a facility located in Blooming Prairie, Minnesota. This acquisition is attributed to rising demand for bio-based industrial solutions.
- In January 2021, Stepan Company has acquired INVISTA's aromatic polyester polyol business and associated assets. This acquisition includes two manufacturing sites, one in Wilmington, NC (United States) and the other in Vlissingen (the Netherlands), along with the intellectual property, inventory, customer relationships, and working capital.
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Global Natural Oil Polyols Market by Product:
- Soy Oil Polyols
- Castor Oil Polyols
- Canola Oil Polyols
- Palm Oil Polyols
- Sunflower Oil Polyols
Global Natural Oil Polyols Market by End-use:
- Furniture & Interiors
- Construction
- Electrical & Electronic Appliances
- Footwear
- Automotive
- Packaging
- Others
Global Natural Oil Polyols Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
About the report:
This research report gives detailed data about the major factors influencing the growth of the natural oil polyols market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.
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