Natural Oil Polyols (NOP) Market Analysis

Natural Oil Polyols Market Analysis

Soy oil polyols market dominated the product landscape and was valued over USD 1.7 billion in 2015.  Raw materials availability owing to increasing soy acreages mainly in U.S. and Brazil is estimated to drive NOP market size.

Increasing soy oil demand in other alternative industrial applications such as fuel additive and other polymers may be attributed for low availability. Increasing penetration of PU demand in furniture, automotive and construction industries may have positive influence on the market growth. Castor oil products set to witness highest gains, growing at over 7.5% CAGR up to 2023. High purity and resistance towards hydrolysis are key stimulating properties to drive product demand. Castor oil polyol is one of the purest commercially available productrequiring minimalistic modifications as compared to other counterparts such as soy oil and palm oil.
 

Palm oil derived product are estimated to register significant growth of over 7% during the forecast period. Advancements in extraction techniques coupled with increasing acreages of castor and palm particularly in south east asia is estimated to have a positive impact on the supply of natural oils over the forecast period.

North America NOP market size dominated the regional industry and was valued at over USD 2.1 billion in 2015. U.S. and Canada are key contributing countries owing to favorable government regulations and consumer awareness.
 

APAC, predominant by India & China natural oil polyols (NOP) market size, is forecast to attain highest gains at 7.5% CAGR up to 2023. Raw material availability accompanied by presence of large scale manufacturing industries are key factors fostering regional growth.
 

Latin Ameirca, led by Brazil, may witness gains at over 9.5% and surpass USD 400 million by 2023. Construction industry growth coupled with increase in automobile sale may drive Latin America market growth.