GREEN AND BIO POLYOLS MARKET ANALYSIS

Market News

Key Developments:

• For instance, in October 2018, Covestro launched thermoplastic polyurethanes (TPU) containing polyether carbonate polyols based on CO2 technology. This new product lowers carbon footprint than conventional ones, and helped close the carbon cycle. This new product has helped Covestro to expand its product portfolio in global market.
• In March 2016, Mitsui Chemicals & SKC Polyurethanes’ (MCNS) formed new joint venture for manufacturing bio-polyol and joint venture called as Vithal Castor Polyols (VCP), in India. VCP manufactures bio polyols castor oil with annual capacity of 8000 tonnes. 
• For instance, in August 2015, BASF SE launched new bio-based Polyol for Volatile Organic Compound (VOC) free* 2K Polyurethane applications. The product is sold under the name Sovermol. This new product has helped BASF SE to expand its product portfolio in global market.
• For instance, in May 2017, Cargill Inc. acquired Arkansas (U.S.) based BioBased Technologies. BioBased Technologies manufactures soybean-based polyols to create more sustainable products for their consumers. This acquisition is expected strengthen its portfolio into applications beyond the foam market, such as elastomers, sealants, coatings, binders and adhesives.