June 2017

Bio based Polyurethane Market - Global Analysis, Current Trends, Forecast to 2022

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The global bio-based polyurethane market has been estimated at USD XX million in 2016 and is projected to reach USD XX million by 2020, at a CAGR of AX% during the forecast period from 2015 to 2020. The global bio-based polyurethane business is in its nascent stage and is expected to grow exponentially over the following years and approximated at a CAGR of XX% during the forecast period. In 2013 over 1634 tons of bio-based polyurethane was poured globally and is being expected to exceed XX tons by 2020. The increased acceptance of bio-based polyurethane is due to its environment-friendly and less CO2 emission, and growing consumer preferences.

Bio-based polyurethane, which is a downstream derivative of crude oil with low cost, has a wide range of applications due to their chemical versatility and higher performance. Natural oil polyols (NOP) which are derived from vegetable oils like castor oil, soy oil, peanut oil and canola oil are key sources which react with diisocyanates with biomass in the production of bio-based polyurethane. It is used in applications such as coating and paints, electronics, construction (building materials), vehicles, housing, furniture, shoe soles etc. and moreover the customers are beginning to prefer bio-based green products. The most of the demand for application of polyurethane is as foams of various types like flexible-foam, semi-rigid foam and rigid foam which are used in cars and 2-wheeler seats (flexible foam), for insulation (rigid foam) etc.

North America, Asia-Pacific and Europe are the major countries with more than 90% demand for polyurethane whereas Asia Pacific, South America, and Eastern Europe will have the polyurethane (PU) boom in coming decade with increasing population and also government’s encouraging regulations with the use of carbon-free elements has helped the industries to expand their market size.

Market Dynamics of the Global Bio based Polyurethane Market:


  • Increase in demand from construction industry in developing countries
  • Increase in demand for pre-set products in electronic appliances and automotive industry
  • Increasing public and scientific demand for sustainable materials
  • New laws being drafted for better sustainability


  • High cost of R&D
  • Volatility of crude oil prices

The global bio-based polyurethane market, on the basis of type, can be broadly segmented into automotive (interior and exterior applications), insulation (pipe insulation, refrigerator insulation, building materials indoor & outdoors etc.), foam (Furniture cushioning, mattresses, technical applications) and others. Foam segment is the biggest in all while automotive has a higher growth in coming future.

The market has also been geographically segmented into APAC, North America, Europe, South America and Eastern Europe. In 2014, the APAC clearly had a higher growth market with the leading Chinese and Indian markets. The Middle East has also witnessed a tremendous growth over few years. Continued investments and governments’ help in a positive way with regulations in bio-based polyurethane has caused a robust growth in the region. The volatility in crude oil prices is the key factor, as well as key product innovations in CASE products like elastomers are the changing environment for bio-based polyurethane.

Company profiles of the major bio-based polyurethane foam, bio-based polyurethane elastomers & coating, bio-based polyurethane binder & insulation, bio-based polyurethane composite materials that have been discussed in this study include:

  • Bayer MaterialScience
  • Biobased Technologies
  • Dow Chemicals
  • Lubrizol
  • Mitsui Chemicals

Key Deliverables in the Study:

  • Analysis for the global bio-based polyurethane market, with region specific assessments and competition analysis on a global and regional scale.
  • Market definition along with the identification of key drivers and restraints.
  • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
  • Extensively researched competitive landscape section with profiles of major companies along with their market share.
  • Identification and analysis of the macro and micro factors that affect the global bio-based polyurethane market on both global and regional scale.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
  • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
  • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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