Bio-Based Polyurethane Market: Current Analysis and Forecast (2021-2027)


Emphasis on Product (Flexible Foam, Rigid Foam, Paints & Coatings, Adhesives & Sealants, Elastomers, and Others); End-Use (Automotive, Building & Construction, Bedding & Furniture, Footwear, Electrical & Electronics, and Others); and Region and Country









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Research Methodology

Report Description

Bio-Based Polyurethane Market 2
Bio-Based Polyurethane Market 2

The global Bio-based Polyurethane market is expected to showcase a growth of over 6% during the forecast period (2021-2027). Polyurethane is used in many likes flexible foam, rigid foam, coatings, adhesives, sealants, and elastomers in a wide range of industry including building & construction, automotive, and electrical & electronics to name a few. For instance, due to its excellent strength-to-weight-ratio, insulation properties, durability, and versatility, it is widely used in the building & construction application. However, changing industry focus towards sustainable production and consumer inclination towards products which are produced using bio-based raw materials is gaining momentum. This has created the demand of bio-based polyurethane for the manufacturing of products like foams and coatings. Therefore, it is expected that with the growth in the construction industry, increasing adoption of green buildings, recovery in the automobile sector along with aim of replacing the fossil-based, non-biodegradable counterparts, the market of bio-based polyurethane would showcase robust growth.

Insights Presented in the Report

“Amongst product, flexible foam held prominent share in the market in 2020.”

Based on product, the market is categorized into flexible foam, rigid foam, paints & coatings, adhesives & sealants, elastomers, and others. Among these, flexible foam held the prominent share in the market. Since it is light in weight, durable, supportive, and comfortable, thereby it is use as a cushion in wide range of application areas like bedding, furniture, automotive interiors, carpet underlay, and packaging. Moreover, according to American Chemistry Council, flexible foam accounts for about 30% of the entire North American polyurethane market. 

“Amongst end-use, building & construction held prominent share in the market in 2020.”

Based on end-use, the market is categorized into automotive, building & construction, bedding & furniture, footwear, electrical & electronics, and others. Of all, building & construction accounts for significant revenue share in the global bio-based polyurethane industry. Rising energy cost and increasing awareness regarding the benefit of insulating material in home has increased the demand of bio-based polyurethane-based foam in building & construction industry. Further, polyurethane foams are used as carpet underlay, therefore with new construction and renovation activities, demand of bio-based polyurethane would increase during the foreseeable future

“Asia-Pacific captured significant position in the Bio-based Polyurethane market”

For a better understanding of the market adoption of bio-based polyurethane, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World.  Asia-Pacific held the considerable share in the global bio-based polyurethane market owing to large and rapidly growing end-use industry particularly in countries like China and India. For instance, according to Oxford Economics, between 2020-2030, India is expected to showcase the fastest growth rate of 9.8% in the infrastructure construction, across the globe. Further, shifting of manufacturing facilities from western economies to the Asia-Pacific is increasing the consumption of bio-based polyurethane.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive country level analysis of the industry

Customization Options:

The global Bio-based Polyurethane market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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1.1.Market Definitions
1.3.Stake Holders
1.4.Currency used in Report


2.1.Research Process of the Bio-based Polyurethane Market
2.2.Research Methodology of the Bio-based Polyurethane Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Bio-based Polyurethane Market Study










7.1.Rigid Foam
7.2.Flexible Foam
7.3.Paints & Coating
7.4.Adhesives & Sealants
8.2.Building & Construction
8.3.Bedding & Furniture
8.5.Electrical & Electronics


9.1.North America Bio-based Polyurethane Market 
 9.1.1.United States
 9.1.3.Rest of North America
9.2.Europe Bio-based Polyurethane Market 
 9.2.3.United Kingdom
 9.2.5.Rest of Europe
9.3.Asia Pacific Bio-based Polyurethane Market
 9.3.5.Rest of Asia Pacific
9.4.Rest of World Bio-based Polyurethane Market 


10.1.Market Drivers
10.2.Market Challenges
10.3.Impact Analysis








14.1.Demand Side Analysis
14.2.Supply Side Analysis
 14.2.1.Top Product Launches
 14.2.2.Top Business Partnerships
 14.2.3.Top Business Expansions, Investments and Divestitures
 14.2.4.Top Merger and Acquisitions




16.1.Competitive Landscape
 16.1.1.Porters Fiver Forces Analysis
 16.1.2.Company Shares, by Revenue


17.1.BASF SE
17.2.RAMPF Holding GmbH & Co. KG
17.3.Covestro AG
17.4.Huntsmen International LLC
17.5.MCPU Polymer Engineering LLC
17.6.The Lubrizol Company
17.7.Stahl Holdings B.V.
17.8.Miracll Chemicals Co. Ltd.




Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Bio-based Polyurethane three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Bio-based Polyurethane industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Bio-based Polyurethane through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Bio-based Polyurethane market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segment included in the report by product and end-use. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Bio-based Polyurethane globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Bio-based Polyurethane. Further, we conducted factor analysis using dependent and independent variables such as growing end use industry and increasing adoption of green chemicals. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Bio-based Polyurethane industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Bio-based Polyurethane market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Bio-based Polyurethane across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Bio-based Polyurethane market. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

Bio-Based Polyurethane Market 1
Bio-Based Polyurethane Market 1

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Bio-based Polyurethane market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of product and end-use.

The main objective of the Bio-based Polyurethane market study

The current & future market trends of global Bio-based Polyurethane were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Bio-based Polyurethane in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segment in the study include area of product and end-use
  • Defined analysis of the regulatory framework for the Bio-based Polyurethane industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Bio-based Polyurethane for the major countries
  • Major regions/countries analyzed in the report includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
  • Company profiles of the Bio-based Polyurethane market players and the growth strategies adopted by them to sustain in the growing market
  • Deep dive country level analysis of the industry