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Bio-Based Polyurethane (PU) Market Analysis By Product (Rigid Foams, Flexible Foams, CASE), By End-Use (Furniture & Interiors, Construction, Automotive, Footwear) And Segment Forecasts To 2020: New Report By Grand View Research, Inc.

Globe Newswire

San Francisco, California, Jan. 12, 2015 (GLOBE NEWSWIRE) -- Global bio-based polyurethane (PU) market isexpected to reach USD 37.5 million by 2020, according to a newstudy by Grand View Research, Inc. Growing preference for bioplastics on account of environmental concerns, is expected to driveglobal bio-PU market over the next six years. Growing demand forsustainable products from construction, automotive and footwearindustries is also expected to have a positive influence on marketgrowth. Complex manufacturing process and high cost compared to itssynthetic counterpart is expected to remain a key challenge forbio-PU market participants.

More information on Bio Based Polyurethane (PU)Market: http://www.grandviewresearch.com/industry-analysis/bio-based-polyurethane-industry

Flexible foam was the largest product segmentand accounted for 49% of total market volume in 2013. Increasingdemand from automotive and furniture industries coupled withconsumer shift towards adoption of bio-based products is expectedto drive this segment. Flexible foam is also expected to witnessthe highest growth rate over the next six years. The segment isexpected to grow at an estimated CAGR of 6.7% from 2014 to2020.

Further key findings from the studysuggest:

  • Global bio-PU market was 1,634.0 tons in 2013 and is expectedto exceed 2,546.6 tons by 2020, growing at an estimated CAGR of6.5% from 2014 to 2020.
  • Construction was the largest end-use industry for bio-PU marketand accounted for 35% of total volume in 2013. Increasingconstruction of green buildings coupled with growing consumerpreference towards eco-friendly construction materials such asspray foams and coatings, adhesives, sealants & elastomers(CASE) is expected to drive the market.
  • Automotive applications are expected to dominate bio-PU market,with demand estimated to grow at a CAGR of 7% from 2014 to 2020.Increasing flexible foam demand from major automotive OEMs,especially in the U.S., for car seats, headrests and dashboard isexpected to drive the market. European Commission regulation forreducing vehicle weight in order to limit emissions is alsoexpected to have a positive impact on the market growth.
  • Asia Pacific was the largest regional market and accounted forover 30% of total volume in 2013. Availability of natural oil inabundance particularly in South East Asia coupled with governmentsupport in the form of tax benefits and financial incentives incountries such as China and India is expected to drive the regionalbio-based PU market. Asia Pacific is also expected to witness thehighest growth rate over the next six years, at an estimated CAGRof 8.4% from 2014 to 2020.
  • Major synthetic polyurethane manufactures have shifted focustowards developing sustainable and environment friendly products.For this purpose, several market players have collaborated withbiotechnology firms to synergize their expertise to manufacturebio-based polyurethane. For instance, Lubrizol acquired Merquinsaand integrated its bio TPU products to its portfolio in November2011. Other major players operating in global bio-based PU marketinclude BASF SE, Bayer MaterialScience, The Dow Chemical Company,Biobased Technologies and Mitsui Chemicals.

Detailed research report on Global BioBased Polyurethane (PU) Market: http://www.grandviewresearch.com/industry-analysis/bio-based-polyurethane-industry

For the purpose of this study, Grand ViewResearch has segmented the bio-PU market on the basis of product,end-use and region:

Global Bio-Based Polyurethane (PU)Product Outlook (Volume, Tons, Revenue, USD Million, 2012 -2020)
    • Rigid Foams
    • Flexible Foams
    • CASE
    • Others
Global Bio-Based Polyurethane (PU) End-Use Outlook (Volume,Tons, Revenue, USD Million, 2012 - 2020)
    • Furniture & Interiors
    • Construction
    • Automotive
    • Footwear
    • Others
Global Bio-Based Polyurethane (PU) Regional Outlook(Volume, Tons, Revenue, USD Million, 2012 - 2020)
    • North America
    • Europe
    • Asia Pacific
    • RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research andconsulting company, registered in the State of California andheadquartered in San Francisco. The company providessyndicated research reports, customized research reports, andconsulting services. To help clients make informed businessdecisions, we offer market intelligence studies ensuring relevantand fact-based research across a range of industries, fromtechnology to chemicals, materials and healthcare.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: GrandView Research

Source:Grand View Research