GREEN AND BIO POLYOLS MARKET ANALYSIS

Regional Analysis

• North America is the largest market for green and bio polyols, owing to the demand from various furniture, interiors, construction, and automotive industry. For instance, the major automotive OEMs such as Ford, General Motors and Fiat Chrysler has invested approximately US$ 2.7 billion in USA, which in turn will significantly benefit the green and bio polyols market. Furthermore, the demand for materials that are recyclable or obtained from less polluting sources having low carbon impact has led to the substitution of crude-based polyols by green and bio polyols.
• In Europe, there is a significant demand for green and bio polyols due to increasing regulatory pressure for sustainable solutions. The demand for health and comfort are driving the use of polyurethane in furniture industry which in turn is increasing the demand for green and bio polyols.
• Asia pacific is the fastest growing green and bio polyols market. This can be attributed to the easier availability of raw materials, land, equipment, and skilled & cheap labor cost. The rapidly growing economies such as China and India are spending on sustainable products such as green and bio polyols. The rapid growth in electronic industry is also a major contributor for green and bio polyols. According to the union budget of 2017-18, the government of India plans to spend US$ 538.62 million on urban infrastructure development, leading to increasing demand for green and bio polyols in India.
• In Latin America, Middle East, and Africa, the burgeoning growth in construction and automotive industry is leading to the rapid demand for green and bio polyols.