The vegetable oil polyol market has great development potential and the domestic market is in the early stages of development.

In the international market, vegetable oil polyol-related suppliers are mainly European and American companies, including BASF, Evonik Industries, Dow, DuPont, Cargill of the United States, etc. At this stage, there are few companies engaged in the production and research of vegetable oil polyols in my country, mainly including Guangzhou Haierma, Skorui New Material Technology, Shandong Haobo Biomaterials, Xinjinlong Bio-based Materials, etc. Guangzhou Haierma is an enterprise in my country’s vegetable oil polyol market. It has two production bases in Guangzhou and Nantong, with an annual production capacity of vegetable oil polyols of 50,000 tons.

Vegetable oil polyol is a green polymer material, which is a plant-based polyol synthesized from renewable vegetable oil and different alcohol compounds. Compared with petroleum-based polyols, vegetable oil polyols have the advantages of rich raw material resources, low energy consumption, and low greenhouse gas emissions, and are excellent substitutes for petroleum-based polyols. Vegetable oil polyols can be used to produce adhesives, polyurethane materials, potting adhesives, structural adhesives and other products. The end applications involve automobiles, daily necessities, furniture, food, medicine and other fields.

Currently, common vegetable oil polyol raw materials include soybean oil, palm oil, castor oil, rapeseed oil, etc. Palm oil is mainly produced in Southeast Asia. Affected by the epidemic, palm oil collection and supply are unstable, and palm oil polyols have poor thermal stability and are not suitable for use at room temperature. The output of castor oil is not as good as soybean oil, and it is mainly produced in India. The modification process of castor oil is complex, and castor oil polyol does not have a cost advantage. Overall, soybean oil is currently the mainstream raw material for vegetable oil polyols. In 2020, global soybean oil production reached 62 million tons, mainly produced in China, the United States, Brazil and other regions.

According to the “2021-2026 China Vegetable Oil Polyol Industry Market In-depth Research and Development Prospects Forecast Report released by the Industrial Research Center, Compared with European and American countries, my country’s vegetable oil polyol industry started late and is still in the early stages of development. my country is an important producer of vegetable oil in the world and has abundant vegetable oil resources. It has raw material advantages in developing vegetable oil polyols. Under the strategic background of carbon neutrality and carbon peaking, as relevant research continues to deepen, my country’s vegetable oil polyol market has broad development space.

Relevant production processes for vegetable oil polyols include transition metal catalyzed carbonylation, ozone oxidation, epoxy ring-opening, etc. The vegetable oil polyol market has huge development potential, but at present, the development of the vegetable oil polyol industry still faces many challenges, such as imperfect industry standards and quality testing standards; related products are difficult to process and of poor quality; and the downstream application market is still being explored. stage, market demand is low, etc.

Industry analysts said that vegetable oil polyols are excellent substitutes for petroleum-based polyols and are in the strategy of carbon neutrality and carbon peaking. Under the target, the vegetable oil polyol market has great development potential, and more companies will be deployed in this market in the future. There are both opportunities and challenges for the development of the vegetable oil polyol industry. In the future market development, while relevant companies improve product quality and optimize production processes, they also need to actively cooperate with downstream companies to explore more application scenarios.