The revenue generated by the green and bio polyols market was USD 4.6 billion in 2022, and it will power at a rate of 9.3% by the end of this decade, to touch USD 9.3 billion by 2030, as mentioned in one of its reports by P&S Intelligence.
The progress of the industry is chiefly credited to the increasing environmental consciousness and stringent government policies aimed at plummeting the use of polyols formed from petroleum. The increasing requirement for flexible PU or firm foams in the construction industry, along with the woodworking sector, will also power the requirement for these chemicals globally.
The woodworking category dominated the industry with revenue of USD 1,470 million, in 2022, and it will continue leading the way in the years to come. Wooden items are found in almost every home, along with cars, and also used for packaging.
Polyether polyols comprise a number of hydroxyl groups and chains of ether in their molecular form. The novel PPG has a higher main hydroxyl range, of about 70%, and displays enhanced reactivity on polyisocyanates.
The North American green and bio polyols market contributed the highest revenue, of USD 2,664 million, in 2022, and it is also expected to maintain the position in the years to come. There is a huge market for polyols in the region because of the fast-growing requirement for them and their refined quality and performance.
It is because of the increase in consumption of flexible PU foam, and the growing environmental concerns that the demand for green and bio polyols will continue to grow in the years to come.
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