The price of Bio-based polyurethane is also decline in the past five years

The main production areas are in USA and Europe while the main consumption is in North America, Asia. The production was increasing from 2011 to 2016, at the end of 2016, it expect that the production of bio-based polyurethane over 2000 MT.
The price of Bio-based polyurethane is also decline in the past five years because of the market impact. Compared to the traditional PU, the price of this product is too high. The global grow margin is at about 18%, and after 2014, the grow margin decreased in a certain extent.
There are a few manufactures of the Bio-based polyurethane in the world, the largest company occupy about 16% market share, mainly in the United States and Europe. BASF, Lubrizol, Dow Chemical stands for the industry's development.
The manufactures in China should strengthen technology research and development and produce better Bio-based polyurethane product.
Major synthetic PU manufacturers globally are shifting their focus towards utilizing more renewable and environment-friendly materials in their products. These manufacturers are collaborating with biotechnology firms and synergizing their domains for producing bio-based polyurethane. Using bio-based raw materials will not only reduce the carbon footprint but also expected to be economically sustainable and may positively impact the performance and durability of the polyurethanes. Bio-based polyurethane market growth may, however, be restrained by the complex technology and high cost associated with the manufacturing of bio-PU. The end-products hence obtained also require price alteration to sustain in highly price competitive markets. Technological advancements coupled with capacity expansions in emerging economies may support bio-based PU market to cope with the challenges in the near future.
Flexible foams are used in automotive seating, shoe soles, thermal insulations and sports equipment. Increasing demand for green materials for automotive seating and shoes is anticipated to drive demand for flexible PU foams. Rigid PU foams are employed mainly in furniture and automotive front panels and doors. The CASE products may be tailored to be used in various coating solutions for concrete, wood, plastics and also as binders & waterborne urethanes. Current market size of CASE products is small as compared to foams but is estimated to witness significant growth rates over the forecast period.