Dublin, November 4, 2021/PRNewswire/-The "Global Bio-Based Polyurethane Market 2021-2028" report has been added to ResearchAndMarkets.com's products.
By 2028, the global bio-based polyurethane market is expected to reach 52.8 million U.S. dollars, and the compound annual growth rate from 2021 to 2028 is expected to be 5.9%
The automotive industry's increasing demand for seat cushions, seat backs, armrests, headrests and other products is expected to drive the growth of the bio-based PU market.
In automotive applications, the use of natural fiber-reinforced plastics and plant-based polymer resins can help reduce carbon dioxide emissions and vehicle weight, thereby helping to improve fuel economy. Therefore, it is expected that in the forecasted several years, the government's increasing attention to reducing global carbon dioxide emissions will drive the demand for products for automotive applications. The continuous expansion of applications in the packaging, building and construction, electrical and electronic, automotive and consumer goods industries is also expected to provide growth opportunities for major players. For example, in September 2020, Covestro announced a cooperation with Shandong Inov New Materials Co., Ltd. to use CO2-based polyol Cardyon to complete the pavement of sidewalks.
This is China's first use of innovative materials based on carbon dioxide to produce sports flooring. Companies such as Ford Motor Company, ZMP Inc., La-Z-Boy Inc. and Airysole Footwear Pvt. Limited companies are some potential customers in the market. Increasing attention to the toxicity of petrochemical products and the depletion of crude oil reserves have been driving the development of bio-based polymers such as bio-based polyurethane (PU).
Most government regulations restricting the consumption of petroleum-based plastics in certain applications such as medical devices are expected to further stimulate the production of bio-based polyurethanes during the forecast period. Highlights of the Bio-based Polyurethane Market Report
In terms of revenue, the soft foam sector has the highest revenue share in 2020 and is expected to maintain its dominant position during the forecast period.
Due to the increasing demand for green buildings, the demand for bio-based PU foam as an efficient insulation material is increasing, thereby achieving higher energy-saving effects.
These foams are widely used in spray form to seal holes, cracks, seams and bonding other building materials, ultimately reducing the amount of conditioning or heat required inside the building.
Various strategic initiatives have been recorded in the past few years to promote market growth.
For example, in September 2020, Covestro collaborated with the Swiss company FoamPartner to develop a partially carbon dioxide-based foam.
Carbon dioxide is used as a raw material for the production of polyols, rather than fossil raw materials such as petroleum.
The CO2 polyols provided under the Cardyon brand are used by FoamPartner as raw materials to produce polyurethane foams for various parts of automotive interiors.
Due to the well-established electrical and electronic manufacturing bases in China, Japan, and South Korea, the Asia-Pacific region is the largest regional market in 2020.
Bio-based polyurethane market variables, trends and scope
High demand for green buildings
Increased demand in the automotive industry
The cost competitiveness of bio-based polyurethanes relative to traditional polyurethanes
Industry Analysis: Bio-based Polyurethane Market
RAMPF Holdings Limited
For more information about this report, please visit https://www.researchandmarkets.com/r/hw7mox
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