Bio-based Polyurethane Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product Type (Foams, Coatings, Adhesives and Sealants, and Other Product Types), End-user Industry (Transportation, Footwear and Textile, Construction, Packaging, Furniture and Bedding, Electronics, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, and Rest of the World). The report offers market size and forecasts for Bio-based Polyurethane in Revenue (USD million) for all the above segments.

Market Snapshot

Bio-based Polyurethane Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6 %

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Market Overview

The market for bio-based polyurethane is expected to grow to reach USD XX million at a CAGR of more than 6% during the forecast period. 

  • Over the mid-term the tey factor driving the market studied are the demand for sustainable materials in various industries.
  • The high cost of research & development is expected to hinder the growth of the market studied.
  • Industrial growth in Middle-East and Africa is expected to act as an opportunity in the forecast period.

Scope of the Report

The market is segmented by Product Type, end-user industry and geography. By Product type the market is segmented into Foams, Coatings, Adhesives and Sealants, and Other Product Types. By End-user Industry the market is segmented into Transportation, Footwear and Textile, Construction, Packaging, Furniture and Bedding, Electronics, and Other End-user Industries. The report also covers the market size and forecasts for the bio-based polyurethane market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Product Type
Adhesive and Sealants
Other Product Types
End-user Industry
Footwear and Textile
Furniture and Bedding
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of the World
Saudi Arabia
South Africa
Rest of World

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Key Market Trends

Increasing Demand from the Construction Industry

  • Steel, concrete, and mortar still dominate the construction industry. However, the current generation is putting greater efforts toward achieving a circular economy, which uses recyclable and renewable raw materials.
  • Bio-based polyurethane is finding a strong ground, owing to the preference by the government, producers, and consumers to shift toward bio-based renewable resources. In order to reduce the consumption of polymers derived from non-renewable fossil fuels and to promote environmental preservation, several initiatives have been taken up by numerous organizations and governmental bodies, to promote the usage of bio-based products in several key sectors.
  • Currently, the German Federal Ministry of Food and Agriculture (BMEL) is funding a project named PULaCell. The aim of this project is to develop bio-based reinforcing profiles for solid wood construction materials, and several industrial companies and research institutes are developing bio-based, cellulose fiber-reinforced polyurethane profiles, which are expected to make future wood-based materials stronger.
  • Chinese construction market plays a key role in the construction market. The Chinese construction accounts to over 30% of the global construction market followed by India with around 13% share. The significant contributors to the global construction markets are Indonesia with 6.8% Philippines with 3.8%.
  • Various emerging economies, such as Indonesia, Vietnam, and the Philippines, have been witnessing robust growth in construction activities. Strong economic performance is expected to further accelerate the growth in housing construction activities in the region. The growth of the market studied is majorly driven by the urbanization, increase in disposable incomes of individuals, construction of new houses, and activities, such as repainting of old infrastructures.
  • Therefore, the demand of the construction industry is expected to increase the demand of the bio-based polyurethane in the forecast period.
Bio-based Polyurethane Market - Segmentation Trends

Asia-Pacific to Dominate the Market

  • Asia Pacific is the largest producer of bio-based polyurethane with high abundance of synthetic di isocyanates and large number of bio-based polyurethane in the region.
  • China has become the largest construction market in the world. In 2020, the construction industry value ed around USD 1.049 trillion dollars, the country has majorly focused on improving infrastructure in small, medium sized cities. The construction industry in the country is expected to maintain a steady growth with a forecasted CAGR of 5%.
  • The emerging construction markets, such as India, Indonesia, the Philippines, and Vietnam are coming up with PPPs and construction projects.
  • These countries are seeking to bring in international firms with relevant technical expertise in the construction industry, which is to drive the market for a bio-based polyurethane market in the region.
  • In Indonesia, millennials account for more than 50% of the productive population. With the increasing young population in the country, the housing demand has also been increasing simultaneously. In order to cater to the increasing demand for affordable houses, the construction of housing units has been increasing for the past couple of years.
  • In India, offices and residential spaces has been driving the growth of the construction sector. In 2020 the office space occupancy stood at around 15 million square feet, which is in the lower end of the global office space occupancy average, this shows a greater potential in the growth of the office construction in the country.
  • Furthermore, in the furniture industry, PU foams are used to create the soft cores of sofas and other upholstered household furniture, commercial/institutional furniture, such as office chairs and sofas, and seating for theaters and stadiums. The demand of furniture industry is increasing the region.
  • Aforementioned factors are likely to increase the demand of bio-based polyurethane in the forecast period.
Bio-based Polyurethane Market - Regional Trends

Competitive Landscape

The bio-based polyurethane market is fragmented. The major companies include BASF SE, Covestro AG, Dow, Huntsman International LLC, and the Lubrizol Corporation etc., among others.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Construction Industry in Developing Countries

      2. 4.1.2 Increasing Demand for Pre-set Products in Electronic Appliances

      3. 4.1.3 New Government Regulations

      4. 4.1.4 Demand for Sustainable Materials

    2. 4.2 Restraints

      1. 4.2.1 High Cost of R&D

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Raw Material Analysis

    6. 4.6 Technological Snapshot

    7. 4.7 Patent Analysis


    1. 5.1 Product Type

      1. 5.1.1 Foams

      2. 5.1.2 Coatings

      3. 5.1.3 Adhesive and Sealants

      4. 5.1.4 Other Product Types

    2. 5.2 End-user Industry

      1. 5.2.1 Transportation

      2. 5.2.2 Footwear and Textile

      3. 5.2.3 Construction

      4. 5.2.4 Packaging

      5. 5.2.5 Furniture and Bedding

      6. 5.2.6 Electronics

      7. 5.2.7 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Spain

        6. Rest of Europe

      4. 5.3.4 Rest of the World

        1. Brazil

        2. Saudi Arabia

        3. South Africa

        4. Rest of World


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Cargill, Incorporated

      3. 6.4.3 Covestro AG

      4. 6.4.4 Dow

      5. 6.4.5 Huntsman International LLC.

      6. 6.4.6 Johnson Controls.

      7. 6.4.7 Mitsui Chemicals, Inc.

      8. 6.4.8 The Lubrizol Corporation

      9. 6.4.9 TSE Industries, Inc.

      10. 6.4.10 Woodbridge

    5. *List Not Exhaustive

    1. 7.1 Industrial Growth in Middle-East and Africa

    2. 7.2 Developments in Bio-based Building Materials

**Subject to Availability

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Frequently Asked Questions

The Bio-based Polyurethane Market market is studied from 2016 - 2026.

The Bio-based Polyurethane Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Dow, The Lubrizol Corporation, Huntsman International LLC., Covestro AG, BASF SE are the major companies operating in Bio-based Polyurethane Market.

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