The global Bio-Based Polyurethane Market is forecast to reach USD 96.1 Million by 2027, according to a new report by Reports and Data. Developing inclination for bioplastics under ecological concerns is required to drive worldwide bio-PU showcase throughout the following years. The growing interest in economical items from development, car, and footwear ventures is likewise expected to impact showcase development. Complex assembling procedures and significant expense contrasted with its engineered partner are required to stay a key test for bio-PU advertise members.
Adaptable foams were the most significant product section and represented 49% of total market volume in 2019. Expanding requests from car and furniture ventures combined with the buyer’s move towards the reception of bio-based items is relied upon to drive this section. The adaptable foam is likewise expected to observe the most elevated development rate throughout the following six years.
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The report covers market definitions, classifications, manufacturing and production processes, cost analysis, and government policies and plans. It offers details about the key factors that will positively and negatively impact the market growth over the forecast period. The report also provides pictorial representations of current and emerging trends, business scope, regional bifurcation, and key statistical data. For clear and easy understanding, the statistical data is represented in the form of graphs, charts, diagrams, tables, and figures. The report covers SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis to offer a comprehensive overview of the Bio-Based Polyurethane market.
The key companies profiled in the report include BASF SE, Bayer Material Science, The Dow Chemical Company, Biobased Technologies and Mitsui Chemicals
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The COVID-19 impact:
COVID-19 has impacted the market negatively. The weaker consumer demand for lifestyle and well-being products due to the imposition of lockdown and social restrictions will have a negative impact on the demand for cosmetics and certain food additives. The COVID-19 pandemic has crippled various industries, along with public construction. The activity will more likely cease due to the imposition of lockdown and social distancing, and work will halt due to the supply chain disruption, the termination of contracts to control expenses, and the shortage of subcontractors and materials. However, the ease in restrictions and the government initiatives to start the economic activities in the consumer goods market creates hope for the imminent recovery of the market.
A regional analysis of the market across key geographical areas is offered in the report with a thorough assessment of market size, market share, revenue growth, import/export, production and consumption patterns, consumer demand and supply, global supply chain, macro- and micro-economic growth factors, government regulations and policies, and presence of key market players/manufacturers in North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
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Further, the report segments the Bio-Based Polyurethane market on the basis of product types, applications, technology, end-use, and regions. It also offers insights into key factors influencing the revenue growth of each segment and sub-segment and offers details about market size, revenue share, and CAGR for each segment.
Raw Material Outlook (Revenue, USD Million; Volume, Tons; 2017-2027)
- Vegetable Oils
- Cashew nut shell liquid (CNSL)
- Tarpene
- Eucalyptus tar
- Others
Application Outlook (Revenue, USD Million; Volume, Tons; 2017-2027)
- Rigid Foams
- Flexible Foams
- CASE
- Others
End-Use Outlook (Revenue, USD Million; Volume, Tons; 2017-2027)
- Furniture & Interiors
- Construction
- Automotive
- Footwear
- Others
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