Natural Oil Polyols (NOP) Market size may register 10.37 billion by 2023 as per the latest research report by Global Market Insights, Inc.
Strong application outlook towards biomass derived polyurethane (PU) in automotive, construction and furniture industry should drive global natural oil polyols market size. Technology innovation over the past few years has pushed industry participants towards NOP adoption, in contrast to synthetic counterparts. They are at par in terms of sustainability & longevity as a substitute for petrochemical counterparts.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/503
Soy oil based polyols dominated demand and generated over USD 1.75 billion in 2015. Ease of processability and abundant raw material availability owing to increasing soy acreages in U.S. and Brazil is estimated to drive product demand. Cargill and Dow have successfully capitalized soy based natural oil polymer market size for manufacturing PU spray foams and insulations.
Europe Natural Oil Polyols (NOP) Market size, by product, 2012-2023 (Kilo Tons)
Castor based NOP should grow significantly owing to key properties such as high purity and resistance towards hydrolysis. Additionally, it is one of the purest commercially available product requiring minimalistic modifications as compared to other counterparts such as soy and palm.
Favorable regulations by REACH and EPA to reduce GHG emissions may favor natural oil polyol market size growth. NOPs production process generates almost 30% less carbon emission and reduces energy demand by around 25% compared petrochemical counterparts.
Technology innovation for product development in cosmetics and food industry should favor industry growth. Also, industry participants such as BioAmber and Vertellus have invested to develop 100% bio-based polyols for commercial applications. Increasing R&D spending coupled with introduction of 100% bio-based NOP may have lucrative opportunities in near future.
Browse key industry insights spread across 76 pages with 40 market data tables & 14 figures & charts from the report, “Natural Oil Polyols (NOP) Market Size By Product (Soy Oil, Castor Oil, Palm Oil, Canola Oil, Sunflower Oil), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key insights from the report include:
- North America, led by U.S. natural oil polyol market size, dominated the overall consumption with over 800 kilo tons in 2015.
- Palm based NOP may witness highest gains in APAC. Increasing infrastructure spending in China and India coupled with key raw materials may fuel regional industry growth.
- APAC, led by India & China natural oil polyol market size, may observe highest gains may generate over USD 2.75 billion by 2023. Growing industrial application scope in additives, solvents and lubricants owing to increasing bio based product awareness should drive regional demand.
- Sunflower based NOPs may observe 6.5% CAGR in Europe and surpass 42 kilo tons by 2023. The segment is at its nascent phase owing to low commercial yield for industrial purposes.
- LATAM, led by Brazil, may grow significantly gains during the forecast timeframe. Increasing application in automotive and construction industries may drive NOP market size growth.
- Global natural oil polyol market share is technology driven and fairly consolidated. BASF, Cargill, Covestro, Mitsui Chemicals, and Dow Chemical are key industrial players. Other companies include Stepan Company, Huntsman Corporation, BioBased Technologies LLC, Jayant Agro Organics, IFS Chemicals Group, Elevance Renewable Sciences, Emery Oleochemicals, and Lubrizol.
- Some of the companies have integrated their operations from manufacturing NOPs to process them further into PU and finished products including rigid & flexible foams.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/503
Global Market Insights has segmented the Natural Oil Polyols (NOP) industry on the basis of product and region:
- Natural Oil Polyols (NOP) Market Product Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 – 2023)
- Soy Oil
- Castor Oil
- Palm Oil
- Canola Oil
- Sunflower Oil
- Natural Oil Polyols (NOP) Market Regional Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 – 2023)
- North America
- Asia Pacific
- Latin America
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.