Bio Based Polyurethane Market Share & Growth | Forecast 2030

Segments - Bio-based Polyurethane Market by Product Types (Coatings, Foams, Adhesive and Sealants, and Others), End-user Industries (Packaging, Transportation, Electronics, Footwear and Textile, Furniture and Bedding, Construction, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Riddhesh Dani

Fact-checked by : Harneet Meher

Editor : Shruti Bhat

Report Description

The global bio-based polyurethane market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing demand for appliances, transportation and buildings in various developing countries. Increasing trend towards decreasing dependence on conventional polymers is estimated to boost the market growth in the coming years.

Global Bio Based Polyurethane Market Key Takeaways

Bio-based polyurethane is used as coatings due to its easy availability, lesser environmental impact, biodegradability, and lesser cost. To decrease the consumption of polymers derived from renewable fossil fuels various steps have been taken by various organization and government bodies to encourage the usage of bio-based polyurethane in various products. Increasing demand for wood floor finishes and electronic consumable demand is anticipated to fuel the market during the forecast period.

Bio-based polyurethane is prepared from different types oils such as sunflower oil, gape seed, olive oil, rapeseed oil, linseed, canola, soybean oil, and castor oil. Increasing demand for environmental friendly and renewable materials in the products is shifting the focus of manufacturers towards bio-based polyurethane. Usage of bio-based raw material will decrease the use of carbon and may positively impact the durability and performance of polyurethanes.

Market Trends, Drivers, Restraints, and Opportunities

Rising use of bio-based polyurethane in refrigerators is projected to fuel the market growth during the forecast period.
Rising concern towards environment is estimated to spur the market expansion in the coming years.
Supporting government policies and initiatives is anticipated to drive the market expansion in the coming years.
Limited level of performance from bio-based polyurethane is expected to hamper the market growth.
New bio-based feedstock for polyurethane act as a major challenge that can hinder the market expansion during the forecast period.
Increasing demand for sustainable and green polyurethane is estimated to create significant opportunities for the market players.

Scope of the Report

The report on the global bio-based polyurethane market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Bio-based Polyurethane Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Product Types (Coatings, Foams, Adhesive and Sealants, and Others), End-user Industries (Packaging, Transportation, Electronics, Footwear and Textile, Furniture and Bedding, Construction, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	The Dow Chemical Company; BASF SE; Huntsman International LLC; The Lubrizol Corporation; Convestro AG; Wanhua Chemical Group Co. Ltd.

Market Segment Insights:

Foams segment is projected to account for a large market share
Based on product types, the global bio-based polyurethane market is divided into coatings, foams, adhesive and sealants, and others. The foams segment is expected to constitute a key share of the market during the forecast period owing to high usage in automotive and furniture industry. It is widely used in thermal insulation, shoe soles, seating, doors, and sports equipment. Foams are majorly used in coatings solutions for wood, concrete, and plastics.

Global Bio Based Polyurethane Market Product Types

Construction segment is projected to hold a key market share
On the basis of end-user industries, the market is segmented into packaging, transportation, electronics, footwear and textile, furniture and bedding, construction, and others. The construction segment is expected to represent a key share of the market in the coming years due to increasing demand for impact resistant materials made of bio-materials for insulation panels and protection panels.

Rapid urbanization, construction of new buildings and houses, and rising disposable incomes of people is anticipated to propel the market expansion during forecast period. On the other hand, the furniture segment is anticipated to expand at a rapid pace during the forecast period owing to rising demand for bio-based polyurethane from the furniture industry for various applications and preservation of wooden products.

Asia Pacific is anticipated to dominate the market
On the basis of regions, the global bio-based polyurethane market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to the increasing demand for bio-based polyurethane from various end-user industries such as furniture, automotive, construction, bedding, footwear, electronics, and packaging. Growing power shortages in Asia Pacific is raising the demand for bio-based polyurethane for insulation.

Global Bio Based Polyurethane Market Regions

Segments

Segments Covered in the Report
The global bio-based polyurethane market has been segmented on the basis of

Product Types

Coatings
Foams
Adhesive and Sealants
Others

End-user Industries

Packaging
Transportation
Electronics
Footwear and Textile
Furniture and Bedding
Construction
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

The Dow Chemical Company
BASF SE
Huntsman International LLC
The Lubrizol Corporation
Convestro AG
Wanhua Chemical Group Co. Ltd

Competitive Landscape

Key players competing in the global bio-based polyurethane market include The Dow Chemical Company; BASF SE; Huntsman International LLC; The Lubrizol Corporation; Convestro AG; Wanhua Chemical Group Co. Ltd. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

Global Bio Based Polyurethane Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Bio-based Polyurethane Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Bio-based Polyurethane Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Bio-based Polyurethane Market - Supply Chain
  4.5. Global Bio-based Polyurethane Market Forecast
     4.5.1. Bio-based Polyurethane Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Bio-based Polyurethane Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Bio-based Polyurethane Market Absolute $ Opportunity
5. Global Bio-based Polyurethane Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Bio-based Polyurethane Market Size and Volume Forecast by End Users
     5.3.1. Packaging
     5.3.2. Transportation
     5.3.3. Electronics
     5.3.4. Footwear and Textile
     5.3.5. Furniture and Bedding
     5.3.6. Construction
     5.3.7. Others
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Bio-based Polyurethane Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Bio-based Polyurethane Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Bio-based Polyurethane Demand Share Forecast, 2019-2026
7. North America Bio-based Polyurethane Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Bio-based Polyurethane Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Bio-based Polyurethane Market Size and Volume Forecast by End Users
     7.4.1. Packaging
     7.4.2. Transportation
     7.4.3. Electronics
     7.4.4. Footwear and Textile
     7.4.5. Furniture and Bedding
     7.4.6. Construction
     7.4.7. Others
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Bio-based Polyurethane Demand Share Forecast, 2019-2026
8. Latin America Bio-based Polyurethane Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Bio-based Polyurethane Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Bio-based Polyurethane Market Size and Volume Forecast by End Users
     8.4.1. Packaging
     8.4.2. Transportation
     8.4.3. Electronics
     8.4.4. Footwear and Textile
     8.4.5. Furniture and Bedding
     8.4.6. Construction
     8.4.7. Others
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Bio-based Polyurethane Demand Share Forecast, 2019-2026
9. Europe Bio-based Polyurethane Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Bio-based Polyurethane Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Bio-based Polyurethane Market Size and Volume Forecast by End Users
     9.4.1. Packaging
     9.4.2. Transportation
     9.4.3. Electronics
     9.4.4. Footwear and Textile
     9.4.5. Furniture and Bedding
     9.4.6. Construction
     9.4.7. Others
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Bio-based Polyurethane Demand Share Forecast, 2019-2026
10. Asia Pacific Bio-based Polyurethane Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Bio-based Polyurethane Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Bio-based Polyurethane Market Size and Volume Forecast by End Users
     10.4.1. Packaging
     10.4.2. Transportation
     10.4.3. Electronics
     10.4.4. Footwear and Textile
     10.4.5. Furniture and Bedding
     10.4.6. Construction
     10.4.7. Others
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Bio-based Polyurethane Demand Share Forecast, 2019-2026
11. Middle East & Africa Bio-based Polyurethane Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Bio-based Polyurethane Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Bio-based Polyurethane Market Size and Volume Forecast by End Users
     11.4.1. Packaging
     11.4.2. Transportation
     11.4.3. Electronics
     11.4.4. Footwear and Textile
     11.4.5. Furniture and Bedding
     11.4.6. Construction
     11.4.7. Others
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Bio-based Polyurethane Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Bio-based Polyurethane Market: Market Share Analysis
  12.2. Bio-based Polyurethane Distributors and Customers
  12.3. Bio-based Polyurethane Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. The Dow Chemical Company
     12.4.2. BASF SE
     12.4.3. Huntsman International LLC
     12.4.4. The Lubrizol Corporation
     12.4.5. Convestro AG
     12.4.6. Wanhua Chemical Group Co. Ltd