GREEN AND BIO POLYOLS MARKET ANALYSIS

Market Challenges And Opportunities

Polyol is a type of alcohol which contains multiple hydroxyl groups. Green polyols are derived from polyurethanes and polyethylene terepthalate. Bio polyols or Natural oil polyols (NOPs) are derived from oils such as canola oil, castor oil, coconut oil, corn oil, rapeseed oil, palm oil, and soya bean oil. Increasing cost of petrochemical feedstock, public desire, and regulatory pressure for environment friendly products, which reduce the carbon footprint are the major growth drivers of green and bio polyols market. The demand for green and bio polyols is majorly due to its requirement in several industries such as packaging, construction, automotive, furniture, and bedding. Green and bio polyols are mainly utilized for the synthesis of polyurethane, which is further used for making coatings and foam. Furniture and construction industry is expected to increase the growth of green and bio polyols.