Global Bio-based Polyurethane Market 2016-2020

Overview of the global bio-based polyurethane market

Technavio’s market research analyst predicts that the global bio-based polyurethane market will grow at a CAGR of more than 6% by 2020. The recent increase in the use of refrigeration for medicines, packaged food, and other consumables is accelerating growth in the global bio-based polyurethane market. The panels made with bio-based polyurethane foam provide 30% more insulation per given thickness than expanded polystyrene. Moreover, bio-based polyurethane also offers moisture resistance to ensure the long-term performance of the insulation in a refrigeration panel. Increased use of bio-based polyurethane foams in refrigeration applications will have a positive effect on this market’s growth potential during the forecast period.

In this market research report, analysts have estimated that there will be a shift from the use of petroleum-based polyurethanes towards bio-based alternatives during the forecast period. The fluctuating crude oil prices and growing environmental concerns are the major factors influencing this shift. In addition, many vendors in the market are also replacing traditional petroleum-based raw materials, such as polyols and diisocyanates, with bio-based raw materials derived from vegetable oils. This increase in the awareness and the growing preference for a greener and more sustainable environment is expected to increase the demand for bio-based thermoplastic polyurethane during the forecast period.

Segmentation by application and analysis of bio-based polyurethane market

• Construction
• Automotive
• Electronics
• Bedding and furniture