Global Natural Oil Polyols Market (NOP) was valued at US$ 6.2 Bn in 2017 and expected to reach at a CAGR of 4% in the forecast period.
Increasing bio polymers and bio-based polyurethane application scope in various Product industries owing to its sustainable properties are trending factors to drive global natural oil polyols market growth. Increasing application scope in automotive, construction and furniture industry to reduce conventional plastic usage are considered to favour NOP market size growth. Favourable government initiatives to reduce greenhouse gases (GHG) emissions may positively influence the demand. EPA and REACH compliances to promote environment friendly products pertaining to health and ecosystem safety are key promising factor to stimulate natural oil polyol demand. Increasing investments for developing products targeting niche applications is anticipated to yield future opportunities for NOP manufacturers.
Natural Oil Polyols Market (NOP) is segmented based on product and geography. By product segment, the market is segmented into soy oil, castor oil, palm oil, canola oil and sunflower. Soy oil polyols held the highest market share in 2017 owing to increasing soy acreages mainly in U.S. and Brazil is estimated to drive NOP market size.
Geographically, the natural oil polyols market (NOP) has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to be largest market for natural oil polyols during the forecast period. U.S. and Canada are key contributing countries owing to favourable government regulations and consumer awareness.
Cargill, BASF, Dow Chemical and Hunstman. Industry players rely on extensive R&D to enhance the product portfolio based on the end-user demand. Also, abundance of raw materials for product manufacturing tends to encourage new market entrants. Strategic and commercial partnerships for technology advancements, product development, and strengthening the market hold characterizes Natural Oil Polyols Market (NOP) competitive landscape.
Scope of Natural Oil Polyols Market (NOP):
Global Natural Oil Polyols Market By Product
• Soy Oil
• Castor Oil
• Palm Oil
• Canola Oil
• Sunflower Oi
Global Natural Oil Polyols Market By Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Global Natural Oil Polyols Market (NOP):
• Dow Chemical
• BioBased Technologies LLC
• Stepan Company
• Jayant Agro Organics
• Elevance Renewable Sciences
• IFS Chemicals Group
• Emergy Oleochemicals
• Mitsui Chemicals
• Vertellus Specialties
• Bio Amber
• Urethane Soy Systems
• Covestro (Bayer Material Science)
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