According to TechSci Research report, “Eco-Friendly (Green) Polyols Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Eco-Friendly (Green) Polyols Market stood at USD4.48 billion in 2022 and is anticipated to grow with a CAGR of 5.28% in the forecast period, 2023-2028. The initiatives taken by government based on eco-friendly (green) polyols has led to favorable market conditions for the Global Eco-Friendly (Green) Polyols Market. Several factors contribute to the growth of various eco-friendly (green) polyols market products.
The United States Environmental Protection Agency (EPA) is dedicated to implementing various programs that aim to promote the use of safer and more environmentally friendly products. One such program is the Design for the Environment (DfE) initiative, which actively collaborates with manufacturers to develop and enhance the safety of their products for both human health and the environment. Under the DfE program, eco-friendly polyol products meet the eligibility criteria and can be recognized for their commitment to sustainability and responsible production practices. By encouraging the adoption of these products, the EPA strives to create a greener and healthier future for all.
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The Global Eco-Friendly (Green) Polyols Market is segmented into type, end user, regional distribution, and company
Based on its type, the polyether segment held the largest share in the market. In the regular manufacturing process of polyether polyols, the catalysis reaction of epoxides plays a crucial role. These polyols are widely used in the production of PU flexible foam. What makes polyether polyols unique is their molecular structure, which consists of multiple hydroxyl groups and ether linkages. These features contribute to the versatility and desirable properties of polyether polyols, making them an essential component in various industries.
Based on region, Asia Pacific segment is expected to grow during the forecast period.
During the forecast period, the market is expected to witness significant growth in developing regions, particularly in the Asia Pacific. This growth can be attributed to the rapid development of end-user industries such as automotive and packaging, which are poised to offer lucrative growth opportunities in the green and bio polyols market. Notably, China stands out as a prominent producer and exporter in the furniture industry. Green and bio polyols find extensive application in the preparation of artificial leathers, bedding, carpet backing, and furniture, further driving the demand for these sustainable alternatives.
Major companies operating in Global Eco-Friendly (Green) Polyols Market are:
- Synthesia Technology Europe SL
- Unisol India Pvt Ltd
- BASF SE
- Cargill Incorporated
- Arkema SA
- Covestro AG
- IQS Inc
- BioBased Technologies LLC
- Emery Oleochemicals LLC
- Roquette GmbH
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“Growing application of eco-friendly (green) polyols in various end user industries are key drivers of the eco-friendly (green) polyols market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of eco-friendly (green) polyols with every passing year are anticipated to register an impressive growth to Global Eco-Friendly (Green) Polyols Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Eco-Friendly (Green) Polyols Market By Type (Polyether, Polyester), By End User (Furniture, Automotive, Packaging, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Eco-Friendly (Green) Polyols Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Eco-Friendly (Green) Polyols Market.
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