November 17, 2021 04:31 US Eastern Time | Source: ReportLinker ReportLinker
New York, November 17, 2021 (Global News Agency)-Reportlinker.com announced the release of the report "Natural oil polyol market size, market share and trend analysis for 2021 by product, end use, region and market segment. Report-2028"-https://www.reportlinker.com/p06184553/?utm_source=GNW Natural oil polyol market growth and trends are expected to reach 10.1 billion US dollars by 2028. The market is expected to expand at a compound annual growth rate of 6.6% from 2021 to 2028. Market demand is driven by the growing demand for lightweight and highly durable products in the automotive, construction and electronics industries, especially in emerging economies such as China, India and Indonesia. The increasing consumption of bio-based polyurethane foam in the automotive, construction, electrical and electronic, and other industries may drive market growth. Conventional efforts to reduce vehicle weight to improve fuel efficiency and reduce carbon emissions have prompted automobile OEMs to accept the use of polyurethane foam obtained from natural oil polyols in different automobile parts such as seat covers and interior trim. Soybean oil polyols are mainly used as an alternative industrial component of polyurethane products in adhesive systems, such as carpet backing. They are also used as soft foams in upholstered furniture, car seats, mattresses, pillows and carpet pads. The surge in demand for soybean oil polyols used in food and animal feed is expected to drive the growth of this market segment. The expanding construction industry in the Asia-Pacific region is expected to drive the demand for natural oil polyol products in construction components, such as insulation protection materials, exterior wall panels and residential electronics. Due to the existence of a large number of multinational companies engaged in continuous R&D activities in fierce market competition. Companies such as Cargill; BASF; Jayant Agro-organic Co., Ltd.; and Mitsui Chemicals, Inc. occupy a leading market position with a series of products for each application market and their global brand influence. Highlights of the Natural Oil Polyol Market Report • Due to the increasing awareness of resource conservation and optimal manufacturing processes, the market is expected to witness significant growth during the forecast period • From the product point of view, the soybean oil polyol segment will become the largest in 2020 Segmented market, accounting for more than 35.0% of revenue share. The surge in demand for soybean oil polyols used in food and animal feed is expected to drive the growth of this segment • Due to the increasing use of polyurethanes in industry, the end-use construction market will dominate and occupy the market in 2020 Over 30.0% revenue share. Construction of building roofs and walls • Due to the presence of multinational companies in the region and the high demand from end-use industries such as construction and furniture, North America will have the largest revenue share in 2020, exceeding 40.0%. Electronic products and automobiles • The US and Canadian governments encourage Bio-based product consumption initiatives have been driving natural oil polyol consumption in the region. Read the full report: https://www.reportlinker.com/p06184553/?utm_source= GNW About Reportlinker ReportLinker is an award-winning market research solution . Reportlinker finds and organizes the latest industry data so that you can get all the market research you need instantly in one place. __________________________