January 30, 2023

The global natural oil polyols (NOP) market size is anticipated to expand owing to the rising product demand of natural polyols in polyurethane foams. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Natural Oil Polyols (NOP) Market, 2022-2029”.

Biopolyols are natural oil polyols that are generated from vegetable oils. Transesterification of natural oils such as soy oil,  palm oil, sunflower oil, canola oil, castor oil, peanut oil, olive oil, mustard oil, lard and tallow produce these polyols. Furthermore, natural polyols that are commercially available, such as castor oil, are made straight from vegetable or plant oil. Due to its bio-based and non-polluting raw components, the product has an excellent eco-friendly quality. Feedstocks, polyurethane foams, cushioning, metallic coatings, and bakery items are just a few of the applications for natural oil polyols.

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Segmentation –

On the basis of type, the market is bifurcated into polyether oil and polyester oil. On the basis of product type, the natural oil polyols (NOP) industry is fragmented into sunflower oil, castor oil, palm oil, canola oil, and others. On the basis of application, the market is segmented into bakery products, polyurethane foams, cushioning, metallic coatings, feed stocks, and others. On the basis of the end-use industry, the market is divided into automobiles, transportations, food, construction, and others. Geographically, the market is classified into Latin America, the Middle East & Africa, North America, Asia Pacific, and Europe.

Report Coverage –

The report consists of information on the natural oil polyols (NOP) industry. The report covers data on strategies adopted by several key players such as partnerships, mergers and acquisitions, technological advancements and regional growth. Furthermore, the report states about the current market condition including the COVID-19 impact and drivers and restraining factors.

Drivers & Restraints –

Rising Demand for Natural Oil Polyols in Polyurethane Foams to Augment Market Growth

Market expansion will be fueled by rising demand for natural oil polyols in polyurethane foams and other applications. The ingredient is used in the production of a variety of polyurethane products, including foams with the cell structure and qualities required for their intended use. Vegetable oils, such as rapeseed and palm oils, were also widely used as a vital element in the production of flexible polyurethane foams. Furthermore, the building and automobile industries’ increasing demand for natural oil polyols will raise product usage. As a result, these factors will drive market expansion over the next few years. However, the availability of replacements, such as animal oil polyols, is, however, limiting the product’s use in a variety of applications. As a result, natural oil polyols (NOP) market growth is expected to be hampered.

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Regional Insights –

North America to Hold the Highest Market Share

The natural oil polyols (NOP) market share in North America is expected to grow at the fastest rate. The construction industry’s increased product demand is credited with the increase. Furthermore, increased urbanization and infrastructural development in nations like the U.S., Mexico and Canada would drive market expansion in this area. The natural oil polyols (NOP) industry’s growth in Asia Pacific is attributable to rising product demand in the transportation sector. The growth in Europe is due to the increased usage of palm and canola oil in bakery items. The Middle East and Africa are expected to see significant growth because of the product’s use in polyurethane foams.

Competitive Landscape – 

Key Players to Shift from Polyurethane to Eco-friendly Goods

For product manufacturing, major traditional polyurethane producers are preferring to use eco-friendly goods sourced from biomass. A number of biotechnology firms have been partnering with prominent players to gain technical expertise in the production of bio-based polyurethane. Biomass-based raw materials are projected to reduce carbon emissions while still being economically viable, which could improve the durability and performance of polyurethane.

Industry Developments 

List of Key Players in the Market:

  • The Dow Chemical Company
  • Huntsman Corporation
  • Cargill Inc.
  • Jayant Agro Organics Ltd.
  • Elevance Renewable Sciences Inc.
  • IFS Chemicals Group
  • Stepan Company
  • Covestro AG
  • Emery Oleochemicals

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