San Francisco, 18 April , Natural Oil Polyols (NOP) Market Analysis By
Product (Soy Oil, Castor Oil, Palm Oil, Canola Oil, Sunflower Oil) And Segment
Forecasts To 2024
The global natural oilpolyols (NOP) market is
expected to reach USD 11.30 billion by 2024, according to a new report by Grand
View Research, Inc. Growing demand for environment-friendly polymers on account
of volatile prices of conventional plastics/polymers is expected to drive
global NOP market.
Regulatory support in the form
of financial incentives from European Commission for the adoption of
environment-friendly polymers is estimated to augment market growth. The
growing use of NOP for metallic & plastic coatings and door foams &
headliners in the transportation industry coupled with its increasing
acceptance for cushioning in footwear, and for concrete & wood coatings in
the construction sector is also projected to drive the NOP market growth over
the forecast period.
Access Full Research
Report On Natural Oil Polyols (NOP)
Market Analysis:
Further key findings from the report suggest:
·
Global natural oil polyols
market demand was 1.89 million tons in 2015 and is expected to reach 3.57
million tons by 2024, growing at a CAGR of 7.3% from 2016 to 2024
·
Soy oil polyols emerged as the
leading product segment and accounted for 36.2% of total market volume in 2015.
The ease of processing and abundant availability of raw materials on account of
increasing soy acreage particularly in the U.S. and Brazil is expected to drive
this segment over the forecast period.
·
Castor oil polyols and palm oil
polyols are expected to witness above average growth rates over the forecast
period. Increasing demand for high purity NOP at lower prices coupled with
advancements in extraction technologies is expected to lead to the development
of castor & palm oil-based polyols.
·
North America was the leading
regional market and accounted for 44.4% of global demand in 2015. The growing
demand for bio-based polyurethane coupled with the availability of key raw
materials such as soy in the U.S. is expected to drive the regional market.
·
Asia Pacific is projected to
witness the highest growth of 7.7% from 2016 to 2024. Increasing infrastructure
spending in China and India coupled with the abundant availability of raw
materials such as palm oil and castor oil in South East Asian countries is
expected to have a positive influence on the regional market growth.
·
Some leading companies
operating in the global natural oil polyols market include BASF SE, The Dow
Chemical Company, Cargill Inc, Huntsman Corporation, Jayant Agro Organics Ltd,
BioBased Technologies LLC, Elevance Renewable Sciences Inc., Stepan Company,
IFS Chemicals Group, Bayer MaterialScience, and Emery Oleochemicals.
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented the
natural oil polyols market on the basis of product and region:
Global Natural Oil Polyols
(NOP) Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014
- 2024)
·
Soy Oil Polyols
·
Castor Oil Polyols
·
Palm Oil Polyols
·
Canola Oil Polyols
·
Sunflower Oil Polyols
·
Others
Global Natural Oil Polyols
(NOP) Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014
- 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
Japan
o
India
o
South Korea
·
Central & South America
o
Brazil
·
Middle East and Africa
o
South Africa
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-natural-oil-polyols-nop-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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