Market Size of Bio-based Polyurethane Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 10.30 kilotons |
| Market Volume (2029) | 20.49 kilotons |
| CAGR (2024 - 2029) | 14.73 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bio-based Polyurethane Market Analysis
The Bio-based Polyurethane Market size is estimated at 10.30 kilotons in 2024, and is expected to reach 20.49 kilotons by 2029, growing at a CAGR of 14.73% during the forecast period (2024-2029).
- The market was negatively affected by the COVID-19 pandemic. The construction industry was significantly impacted during the pandemic, which affected the demand in the market studied. However, the market is excepted to retain its growth trajectory in the coming years. Currently, the market has recovered from the pandemic and is growing at a significant rate.
- Over the mid-term, the key factors driving the market studied are the increasing demand from the construction industry in developing countries and the increasing demand from electronic appliance manufacturing.
- However, the high cost of bio-based materials is expected to hinder the growth of the market studied.
- Nevertheless, industrial growth in the Middle East and Africa is expected to act as an opportunity during the forecast period.
- The Asia-Pacific region is expected to be the fastest-growing market across the world, with the largest consumption from countries such as China and India.
