Asia-Pacific Natural Oil Polyols Market Development Status, Competition Analysis by 2023

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The natural oil polyols market is driven by increasing polyurethane demand from automobile and infrastructure industries. For instance, the Ford Motor Company implemented polyurethane foam made by using soy oil in the seats of its 2008 Ford Mustang. Ford Motor Company has since placed soy foam seating in all its North American vehicle platforms.

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Natural oil polyols are also known as biopolyols, which are derived from vegetable oils. Some of the major vegetable oil sources, such as sunflower oil, soy oil, castor oil and palm oil, are used as natural oil polyols feedstock.

Bio-derived materials such as soy-based polyols could offer significant advantages over conventional polyols in regard to sustainability, reduction of petroleum dependence and potential lower cost. Additionally, they are often characterized by higher thermal stability and less sensitivity to hydrolysis.

Environmental Protection Agency (EPA) set a policy to promote environment-friendly products pertaining to health and ecosystem safety. In North America, Environmental Protection Agency (EPA) introduced emission standards for cars and light trucks.

Based on product, the soy oil polyols was the major revenue contributor to the global natural oil polyols market. The major reason behind the growth of the soy oil polyols segment is the ease of processing and abundant availability of raw materials on account of increasing soy acreage in the U.S. and Brazil.

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Some of the major competitors in the global natural oil polyols market include The Dow Chemical Company, Cargill Inc, BASF SE, Huntsman Corporation, Bayer Material Science AG, Emery Oleochemicals, BioBased Technologies LLC, Elevance Renewable Sciences Inc. and IFS Chemicals Group.

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