Bio Polyurethane (PU) Market Expected To Grow At a CAGR Of 6.5% From 2014 To 2020.: Grand View Research, Inc.

Global bio-based polyurethane (PU) market is expected to reach USD 37.5 million by 2020, according to a new study by Grand View Research, Inc. Growing preference for bio plastics on account of environmental concerns, is expected to drive global bio-PU market over the next six years. Growing demand for sustainable products from construction, automotive and footwear industries is also expected to have a positive influence on market growth. Complex manufacturing process and high cost compared to its synthetic counterpart is expected to remain a key challenge for bio-PU market participants.

Flexible foam was the largest product segment and accounted for 49% of total market volume in 2013. Increasing demand from automotive and furniture industries coupled with consumer shift towards adoption of bio-based products is expected to drive this segment. Flexible foam is also expected to witness the highest growth rate over the next six years. The segment is expected to grow at an estimated CAGR of 6.7% from 2014 to 2020.

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