Natural Oil Polyol (NOP) Market Could Be Lucrative Due to High Price Growth of Petroleum: Transparency Market Research
By Business Wire News
By Business Wire News
Transparency Market Research has announced the release of a report titled “Natural Oil Polyol Market (NOP) (Soy Oil Polyol, Castor Oil Polyol, Palm Oil Polyol, Canola Oil Polyol, Sunflower Oil Polyol and Others)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”. According to the research report, the demand for natural oil polyol (NOP) was estimated in 2013 at US$3.88 billion and is anticipated to reach US$7.22 billion by 2020. The global natural oil polyol market will expand at a CAGR of 9.3% during the forecast period of 2014 to 2020.
Environmental consciousness among people, coupled with various government initiatives to promote the use of bio based polyurethanes has benefitted the natural oil polyol (NOP) market. Although petroleum-based polyols will dominate the market share of polyol in the near future, natural oil polyol is expected to make a steady headway in many applications. Global NOP Market is largely stimulated due to increasing global demand for reduction of dependency on petroleum-derived polyurethane. Rising petroleum prices provide incentive to natural oil polyol (NOP).
In contrast, the increasing prices of natural oil coupled with agricultural uncertainty are expected to hamper the long term growth of the global NOP market.
On the basis of region, the global natural oil polyol (NOP) market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). By product segment, the global natural oil polyol (NOP) market has been segmented into soy, castor, palm, canola, sunflower and other such oils.
Some of the notable players in the global natural oil polyol (NOP) market include Cargill Inc., BASF SE, Huntsman Corporation, The Dow Chemical Company and Bayer MaterialScience AG, among others.
- Insulation Market: http://www.transparencymarketresearch.com/insulation-market.html
- Smart Materials Market: http://www.transparencymarketresearch.com/smart-materials-market.html
About Transparency Market Research
Transparency Market Research is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.