LONDON–(BUSINESS WIRE)–#Chemicals–The global polyurethane foam blowing agents market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
PU (polyurethane) foams are widely used in the automotive and construction industry. PU Foams are used in the production of vehicle components such as seats, headrests, armrests, roof liners, dashboards, and instrument panels, driving the demand for PU foam blowing agents. Foam blowing agents are also used in the manufacture of several other automobile components such as side skirts, wiper cowls, roll pans, and bumpers and find significant application in the construction industry as well. During the forecast period, the global automobile industry and construction industries are expected to witness growth which will have a positive impact on the global polyurethane foam blowing agents market.
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As per Technavio, the technological advances in refrigeration systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Polyurethane Foam Blowing Agents Market: Technological Advances in Refrigeration Systems
Growing stringency of regulations pertaining to energy and environment have compelled refrigeration system manufacturers to bring technological improvements in mechanical components and PU foams. This has encouraged players in the market to introduce blowing agents that exhibit better gas conductivity and lower GWP than standard HCFC and HFD-based blowing agents. These factors are expected to increase competition among vendors and result in the emergence of high-performance and cost-effective blowing agents during the forecast period.
“The use of green foams in the packaging industry will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Polyurethane Foam Blowing Agents Market: Segmentation Analysis
This market report segments the global polyurethane foam blowing agents market by type (HC, HFC, HFO, HCFC, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increasing use of PU foam blowing agents in industries such as furnishing and bedding, packaging, medical devices, construction, and Automotive in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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