The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Natural Oil Polyols Global Market Report 2024, the natural oil polyols market is expected to show significant growth in the forecast period.

Market Overview

• Current Growth: The natural oil polyols market has seen strong growth, increasing from $6.99 billion in 2023 to $7.55 billion in 2024, driven by a 7.9% CAGR.
• Historic Growth Drivers:
  • Rise in disposable income.
  • Increase in R&D activities.
  • Growing demand for diverse applications.
  • Expanded use in the automotive sector.
  • Greater awareness of eco-friendly products.

Future Market Projections

• Forecasted Growth: The market is expected to reach $10.3 billion by 2028, with an 8.1% CAGR.
• Anticipated Growth Factors:
  • Rising consumption of bio-based polyurethane foams.
  • Demand for lightweight and durable products.
  • Increasing environmental concerns.
  • Shift towards reducing reliance on petrochemicals.
  • Growing preference for natural polyols.

View More On The Natural Oil Polyols Market Report 2024 –
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Major Trends Shaping the Market

• Preference for Beauty and Skin Care Products: Increasing use of natural oil polyols in beauty and skincare.
• Sustainable Solutions: Growing demand for eco-friendly and sustainable products.
• Bio-Based and Eco-Friendly Shift: Transition from traditional petrochemical-based products to bio-based alternatives.
• Advancements in R&D: Innovations in extraction techniques and product development.
• Demand for Lightweight Products: Rising need for durable and lightweight materials in various applications.

Automotive Sector Growth Fuels Expansion

• Automotive Sector Demand:
  • Driven by increasing vehicle production and technological advancements.
  • Natural oil polyols provide sustainable alternatives for polyurethane foams, coatings, and adhesives.
  • Enhance fuel efficiency through lightweight materials and reduce the carbon footprint.
• Key Statistics:
  • In 2022, global production of passenger cars reached 68 million, a 7.9% increase from the previous year (European Automobile Manufacturers Association).

Major Players in the Market

• Leading Companies:
  • Shell Chemicals
  • Cargill Incorporated
  • Mitsui Chemicals Inc.
  • BASF SE
  • Repsol S.A.
  • Arkema
  • Huntsman International LLC
  • Chevron Phillips Chemical Company LLC
  • Stepan Company
  • Croda International Plc
  • Ingevity Corp.
  • Elevance Renewable Sciences Inc.
  • Inolex Inc.
  • Novomer Inc.
  • DAICEL ChemTech Inc

Innovations in Sustainability

• Bio-Circular Raw Materials:
  • Companies are developing products using bio-circular raw materials to enhance sustainability.
  • Mass Balance Approach: Involves attributing renewable materials from biowaste and plant residues to the final product.
• Example:
  • In September 2022, Covestro AG launched sustainable polyether polyols based on bio-circular raw materials.
  • This method reduces the carbon footprint compared to fossil fuel-based products.

Strategic Acquisitions

• Cargill’s Expansion:
  • In September 2021, Cargill acquired Arkema’s epoxides business for $39 million.
  • This acquisition allows Cargill to convert soybean oil into epoxides, used to produce bio-based plasticizers and polyols.
  • Arkema is known for its innovation in natural oil polyols for polyurethane applications.

Market Segmentation

• By Type:
  • Polyester Oil
  • Polyether Oil
• By Application:
  • Polyurethane Foams
  • Metallic Coatings
  • Cushioning
  • Feed Stocks
  • Bakery Products
  • Other Applications
• By End-User:
  • Construction
  • Automobile
  • Food
  • Transportation
  • Other End-Users

Regional Insights

• North America: The largest region in the natural oil polyols market in 2023.
• Future Outlook: Continued growth expected, driven by innovations and increasing demand for sustainable solutions.

The natural oil polyols market is poised for robust growth, supported by advancements in sustainability, increasing demand in the automotive sector, and significant innovations from major players. As the market evolves, the shift towards eco-friendly and bio-based products will play a crucial role in driving future growth.

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The Natural Oil Polyols Global Market Report 2024  provides an in-depth analysis on the natural oil polyols market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the natural oil polyols market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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