Green polyols market is Segmented by Type (Polyether Polyols , Polyester Polyols), by Application (Polyurethane Foam, Adhesives and Sealants, Coatings, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031. It is Published in Valuates Reports Under the Category of Chemicals Industry.
BANGALORE, India, March 13, 2024 /PRNewswire/ -- The global green polyols market was valued at USD 7.3 billion in 2021, and is projected to reach USD 17.2 billion by 2031, growing at a CAGR of 9.1% from 2022 to 2031.
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Major Factors Driving The Growth Of Green Polyols Market
Growing environmental concerns and strict carbon emission restrictions are encouraging companies to embrace sustainable alternatives, which is driving the growth of the green polyols market. The market for green polyols is also expanding as a result of increased consumer awareness of the advantages of eco-friendly goods and the increasing need for renewable and bio-based materials in a variety of applications, including furniture, automobiles, and construction.
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TRENDS INFLUENCING THE GROWTH OF GREEN POLYOLS MARKET
Governments and businesses throughout the globe have implemented sustainability efforts and strict environmental laws, which are major factors driving the growth of the Green Polyols market. As a result of growing worries about environmental damage and climate change, governments are enforcing tight laws to cut carbon emissions and encourage sustainable lifestyles. Green polyols provide a more ecologically friendly option to conventional petroleum-based polyols since they are created from renewable feedstocks such plant-based oils, biomass, and recyclable materials. In order to fulfill customer needs for sustainable goods, comply with laws, and lessen their carbon footprint, businesses are using green polyols more and more.
The market for Green Polyols is driven by rising consumer awareness of environmental concerns and a desire for eco-friendly goods. Customers are actively looking for sustainable alternatives as they become more aware of how the things they consume affect the environment. Green polyols appeal to environmentally concerned consumers that prioritize sustainability when making purchases because of their renewable and biodegradable qualities. Green polyols are therefore being added to goods by producers in a variety of industries, such as furniture, construction, and automotive, in order to satisfy customer demand for environmentally friendly options.
The need for Green Polyols is driven by the expansion of end-use sectors including furniture, building, and automobiles. Green polyols are being used by these sectors more often in an effort to lessen their environmental impact and achieve sustainability objectives. Green polyols are used in the automobile industry to produce bio-based foams for interior components and seats, which lessens the need for fossil fuels and lowers emissions from moving cars. Similar to this, green polyols are used in the building sector to create eco-friendly and energy-efficient building solutions by being added to sealants, adhesives, and insulation materials. The need for green polyols is fueled by the expansion of these businesses as well as the focus on sustainability.
The government's subsidies and incentives for bio-based goods propel the market for green polyols to rise. Businesses that engage in renewable energy and sustainable manufacturing techniques can get grants, tax breaks, and other forms of financial assistance from several countries. Green polyols and other bio-based materials are encouraged to be used by manufacturers by these incentives, which promote innovation and market expansion. The need for green polyols in government contracts and public infrastructure projects is further increased by procurement laws that favor bio-based goods.
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GREEN POLYOLS MARKET SHARE ANALYSIS
Over the course of the projection period, North America is expected to have substantial growth. Green polyols are mostly used in the automotive and building sectors in North America.
In terms of revenue, the polyether polyols segment held the most proportion of the worldwide green polyols market in 2021.
In terms of revenue, the polyurethane foam category held the most proportion of the worldwide green polyols market in 2021.
The global market for green polyols in 2021 was controlled by the building industry. Green polyols and polyurethanes are utilized in construction and building to provide high-performing, lightweight products that are adaptable and durable.
Key Players:
- Unisol
- BASF SE
- Cargill Incorporated
- Arkema
- Covestro AG
- BioBased Technologies
- Emery Oleochemicals Llc
- IQS Global
- ROQUETTE
- Synthesia Technology Group
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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- The global Bio Polyols market was valued at USD 1411.1 Million in 2022 and is anticipated to reach USD 2386.2 Million by 2029, witnessing a CAGR of 7.7% during the forecast period 2023-2029.
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- The global Amine-based Polyols market is projected to reach USD 44220 Million in 2029, increasing from USD 30000 Million in 2022, with the CAGR of 5.0% during the period of 2023 to 2029.
- The global Biobased Polyols market is projected to reach USD 1792 Million in 2029, increasing from USD 1411.1 Million in 2022, with the CAGR of 3.4% during the period of 2023 to 2029.
- The global polyamide market size was valued at D26.7 billion in 2020 and is projected to reach D40.6 billion by 2028, growing at a CAGR of 5.4% from 2021 to 2028. Key drivers of the polyamide market include booming automobile sales.
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- The global Flame Retardant Polyamide market was valued at USD 788.6 Million in 2022 and is anticipated to reach USD 1281.8 Million by 2029, witnessing a CAGR of 7.1% during the forecast period 2023-2029.
- The global Recycled Polyamide market is projected to reach USD 8334.9 Million in 2029, increasing from USD 5502 Million in 2022, with the CAGR of 6.3% during the period of 2023 to 2029.
- The global Medical Ultra High Molecular Weight Polyethylene revenue was USD 63 Million in 2022 and is forecast to a readjusted size of USD 113.7 Million by 2029 with a CAGR of 8.7% during the forecast period (2023-2029).
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