Green polyols and bio polyols are eco-friendly alcohol solutions containing multiple hydroxyl groups. Green polyol is derived from recycled polyethylene terepthalate (PET) and polyurethanes, while bio polyol is extracted from different vegetable oils such as canola, castor and corn. Polyether polyols and polyester polyols are the two primary types of green polyols and bio poyols which are commonly used. These products are used in series of applications such as adhesives, sealants, coatings, and polyurethane foams (flexible & rigid). Different end-user consumers of these polyols include packaging, construction, transportation, furniture and carpet among others.
NEWARK, DE / ACCESSWIRE / December 30, 2024 / The global green and bio-based polyols market, valued at USD 7,998.3 Million in 2019, is experiencing a robust surge in demand driven by increasing sustainability efforts and green consciousness across industries. By 2025, the market is projected to reach USD 11,616.9 Million, with an impressive 10.3% year-on-year growth. Furthermore, long-term forecasts predict a CAGR of 11.7% between 2025 and 2035, culminating in a market size of USD 35,650.2 Million by the end of 2035.
Manufacturers are providing polyester polyols that can primarily be used in a "2k system" coupled with isocyanates like MDI and/or TDI to make polyurethane which surges the demand for bio polyol and green polyol. Other uses are in amalgamation with melamine, epoxy, acrylates, etc. Their standard polyester polyols are based on different types of acids and glycols and tailored-made grades to develop the end user's needs.
The use of few raw materials and no danger are basically targeted advantages with these technologies owing to 98% solvent-free products. As sealants, these polyols are tough and waterproof and can be used for window sealants, joints, and electrical and electronic components.
Moreover, as elastomers, the polyols have durability, abrasion, chemical and oil resistance properties and are used for rollers, belts for carrying operations, wheels for rollerblades, hospital trolleys, rollers for printing processes, and under-the-hood automotive.
The polyester polyols range provided by top market players has several characteristics, such as modern coatings containing polyurethane for durability and glossy aspect purposes. It can be used in water dispersion for coating and in a 2K system for wood and metal application (primer and top coat).
Although, there has been a technological change from solvent-based systems to solvent-free technologies in terms of adhesives, such as polyurethane dispersions (PUD) and polyurethane hotmelt adhesives. All these factors collectively contribute to the global bio-polyol and green polyol market growth.
Market players are focusing their research efforts on renewable raw materials to produce bioplastics and green chemicals, which are more environmentally friendly. Their innovative solutions acknowledge perfectly the UN's sustainable development goal (SGD 12) "ensure sustainable consumption and production patterns".
The demand for bio polyol and green polyol is estimated to surge when it comes to plant chemistry, owing to the market players having unique know-how in the chemistry of the castor plant, a non-edible plant, from which a wide range of high-performance long-chain bio-sourced polyamides and linear oleochemical building blocks are produced.
These bio polyols can be used to make several finished products such as soles of sports shoes, eyeglasses, auto parts, the casing of cell phones, etc. and carbon-neutral oleochemicals are widely used in the synthesis of high-performance lubricants, bio-based plasticizers, pharmaceuticals and agrochemicals, fragrances and flavours, natural ingredients for cosmetics, etc. These various applications are likely to secure the adoption of bio-polyol and green polyol across various sectors.
Using high-quality bio-based polyols, key market players are launching a new polyol that makes indoor floorings, for instance, in industrial warehouses or sports halls, more resistant. The resin greatly contributes to the production of more sustainable coatings with particularly high levels of stability and stability, as it is produced from renewable raw materials and contains no volatile organic compounds.
Mattress manufacturers are able to meet consumer demands or performance and pricing through the use of foams created with bio polyols. Additionally, bio polyols can further help furniture foam manufacturers reduce their environmental footprint and hence, lead to the expansion of the bio polyol and green polyol market share.
A wide range of polyols has been offered by leading market players, such as sorbitol, mannitol, maltitol, glycerin, xylitol, isomalt, erythritol, etc., to be used in many different industrial applications.
The uses of polyols include providing the building blocks for sorbitan ester surfactants, an emulsion stabilizer, acting as a plasticizer/cross-linker for resins, functional fluids, component for polyurethane and alkyd resins, providing viscosity control for glass etching, etc. and are expected to propel the global bio polyol and green polyol market growth.
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"The green and bio-based polyol market is experiencing significant growth, driven by increasing demand for sustainable and eco-friendly materials. As industries strive to reduce their environmental impact, bio-based polyols offer an attractive alternative to traditional petroleum-based products, contributing to the circular economy." - Opines Nikhil Kaitwade Associate Vice President at Future Market Insights (FMI).
Key Takeaways: Green and Bio-based Polyol Market
The demand for green and bio-based polyols grew by 10.3% year-on-year in 2024.
The United States is the largest consumer of green and bio-based polyols, driven by strict environmental regulations, especially from the EPA, and the adoption of sustainable materials in industries like coatings, adhesives, and elastomers (CASE).
China's consumption of green and bio-based polyols surged due to rapid industrialization, urbanization, and its large construction sector, with polyurethane foams playing a key role in energy-efficient buildings.
Germany also ranks high in consumption, influenced by its robust environmental policies and technological expertise, particularly in the automotive industry.
Bio-based polyols are derived from vegetable oils, castor oil, and natural fats, and they offer a significantly lower carbon footprint compared to conventional petroleum-based polyols.
Foam insulation made from green and bio-based polyols reduces heat loss, contributing to energy savings in buildings, and promotes energy-efficient living.
Challenges Faced by the Green and Bio-based Polyol Market
High Production Costs: The manufacturing of green and bio-based polyols often involves complex processes and raw materials that are more expensive than traditional petroleum-based alternatives. This makes the final product costly, limiting its competitiveness in price-sensitive markets.
Supply Chain Constraints: The availability of sustainable raw materials like plant-based oils and sugars for bio-based polyols can be inconsistent. This reliance on agriculture-based feedstocks may result in supply chain disruptions due to factors like climate change, crop variability, or geopolitical issues.
Scalability and Technology Limitations: Many green polyol production technologies are still in the development or pilot phase. Scaling up production to meet industrial demand while maintaining cost-effectiveness and sustainability remains a significant hurdle.
Performance and Compatibility Issues: Bio-based polyols sometimes face challenges in terms of performance compared to their conventional counterparts, such as lower durability or inferior mechanical properties. Ensuring these products meet the same standards as traditional polyols is crucial for market adoption.
Regulatory and Certification Challenges: The green and bio-based polyol industry faces a complex regulatory environment, with varying standards across different regions. Securing certifications like "green" or "bio-based" labels can be time-consuming and costly, slowing market growth and adoption.
Competitive Landscape
The leading participants in the green and bio-based polyol industries are seeking to improve their capabilities and resources in order to fulfill rising demand across a wide range of applications. It entails investing in cutting-edge technologies, expanding service offerings, and improving operational efficiencies. With a larger resource base, businesses can provide high-quality and dependable services that respond to changing client needs and keep up with market competitiveness.
Most major companies form strategic alliances and joint ventures to co-create breakthrough new goods and solutions. This technique has the potential to drive major sector and technological innovation by using the knowledge and resources of these collaborations. This diversification enables the companies to enter new industries and meet the unique needs of numerous end-use industries across many fields.
Industry Updates
March 2022: Covestro launched a new family of bio-based polyols for the flexible polyurethane foam manufacturing process. The new family is mainly designed to underpin sustainability responding to increasing demand in the Construction and Furniture Industry for Environmentally Friendly Material.
March 2022: BASF teams up with a leading player for renewable chemicals to further develop bio-based polyols for multiple applications. This is intended to further enhance the sustainability profile of BASF's portfolio of products and respond to growing market demand for renewable raw materials.
Key Players of the Green and Bio-based Polyol Industry
Arkema S.A.
BASF SE
Cargill, Incorporated
Covestro AG
Dow Inc.
Evonik Industries AG
Huntsman Corporation
Mitsui Chemicals
Solvay
Stepan Company
Key Segments of Green and Bio-based Polyol Market
By Product Type:
In terms of Product Type, the industry is divided into Green Polyol and Bio-based Polyol.
By Application:
The industry, in terms of application, is segmented into various categories: Foam Insulation, Coatings and Paints, Adhesives and Sealants, Composites, Electronics, Textiles and Apparel, and Others
By Region:
Key regions include North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, the Middle East, and Africa (MEA), have been covered in the report.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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