LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global bio polyols market to grow at a CAGR of over 10% during the forecast period, according to their latest market research report.
The eco-friendly and sustainable nature of bio polyols is one of the major trends being witnessed in the global bio polyols market 2018-2022. Bio polyol compounds are commonly produced from different natural and sustainable sources such as vegetable oils and their derivatives, sucrose, and others. Increasing environmental apprehensions concerning the use of conventional polyols are likely to drive the demand of bio polyols during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global bio polyols market is the increasing demand for adhesives and sealants:
Global bio polyols market: Increasing demand for adhesives and sealants
Adhesives and sealants are substances applied to one or both the surfaces to bond them together. They have replaced rivets, welded parts, and other mechanical parts in various equipment. Polyurethane adhesives reduce the costs of the entire manufacturing process. They exhibit superior product performance, reliability, and increase the lifespan of the product.
According to a senior analyst at Technavio for research on specialty chemicals, “Adhesives and sealants are increasingly used in the automotive and transportation, furniture and woodwork, building and construction, electrical and electronics, footwear, and packaging industries. Polyurethane adhesives reduce the total weight of the vehicle, thereby enhancing fuel efficiency.”
Global bio polyols market: Segmentation analysis
The global bio polyols market research report provides market segmentation by application (foams and CASE) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The foams segment held the largest market share in 2017, accounting for nearly 58% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 40% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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