The global polyurethane (PU) foam blowing agents market research report by Technavio predicts the market to post a CAGR of more than 6% during the period 2019-2023.
The demand for PU foams has been growing owing to the rise in automotive production as these foams are increasingly used to manufacture interior components in cars. PU foam blowing agents are also used in the production of other automotive parts such as side skirts, wiper cowls, roll pans, and bumpers.
As per Technavio, the technological changes in refrigeration systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global polyurethane foam blowing agents market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global polyurethane foam blowing agents market: Technological changes in refrigeration systems
The changing energy and environmental regulations for refrigerators have led the appliance PU industry to adopt blowing agents with improved thermal gas conductivity. These blowing agents exhibit lower GWP than the standard HCFC or HFC-based blowing agents. The manufacturers are thus, trying to balance the cost/performance position by using blends of high-performance and cost-effective blowing agents.
HC-based PU foam blowing agents offer superior insulation and are thus increasingly being used in commercial refrigeration, cold storage, food processing, and other end-user industries. This will encourage market growth over the forecast period, says a senior research analyst at Technavio.
Global polyurethane foam blowing agents market: Segmentation analysis
This polyurethane foam blowing agents market analysis report segments the market by type (hydrocarbons (HC), hydrofluorocarbons (HFC), hydrochlorofluorocarbons (HCFC), hydrofluoroolefins (HFO), and others), and geography (APAC, Europe, MEA, North America, and South America).
The HC segment held the largest polyurethane foam blowing agents market share in 2018. The increasing use of HC-based foam blowing agents in several end-user industries such as automotive, appliances, construction, flooring, and furnishing will boost the growth of the segment.
APAC accounted for the highest share of the market in 2018. The increasing demand for PU foams from consumer goods industries will boost the demand for PU foam blowing agents in the region.
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