Bio-based Polyurethane Market
Segments - 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
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.
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.
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Attributes |
Details |
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Report Title |
Bio-based Polyurethane Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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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) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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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.
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.
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.
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 (000’ 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
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 (000’ 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
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