November 03, 2021 11:53 ET | Source: Research and Markets Research and Markets
Dublin, Nov. 03, 2021 (GLOBE NEWSWIRE) -- The "Bio-based Polyurethane Market Size, Share & Trends Analysis Report By Product (Rigid Foam, Coatings, Adhesives & Sealants, Flexible Foam), By End Use (Packaging, Building & Construction), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering. Increasing product demand from the automotive industry for the manufacturing of seat cushions, seat backs, armrests, head restraints, and others is anticipated to boost the bio-based PU market growth.
In automotive applications, the use of natural fiber-reinforced plastics and plant-based polymer resins helps reduce CO2 emissions and the weight of vehicles, which, in turn, helps improve fuel economy. Thus, increasing government concerns to reduce CO2 emissions across the globe are anticipated to fuel the product demand in automotive applications during the forecasted years. Expanding application scope in the packaging, building & construction, electrical & electronics, automotive, and consumer goods industries is also anticipated to offer growth opportunities to the key players. For instance, in September 2020, Covestro AG announced its partnership with Shandong INOV New Materials Co., Ltd. to complete the laying of the walkway using CO2-based polyolCardyon.
This is the first time that innovative CO2-based materials have been used in China to produce sports floorings. Companies, such as Ford Motor Company, ZMP Inc., La-Z-Boy Inc., and Airysole Footwear Pvt. Ltd., are some of the potential customers in the market. Increasing concerns regarding toxic issues pertaining to petrochemicals along with depleting crude oil reserves have been driving the development of bio-based polymers like bio-based polyurethane (PU).
Regulations imposed by most governments restricting the consumption of petroleum-based plastics in certain applications like medical devices are expected to further incentivize the production of bio-based polyurethane during the forecast period. Bio-based Polyurethane Market Report Highlights
Bio-Based Polyurethane Market Variables, Trends, & Scope
Industry Analysis: Bio-Based Polyurethane Market
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