The growing demand for PU foam blowing agents from the automotive and construction industries is one of the critical reasons that will drive the polyurethane foam blowing agents market. PU foams are increasingly used in the manufacture of interior components of automobiles such as instrument panels, armrests, headrests, roof liners, seats, and dashboards. Foam blowing agents are increasingly used in the production of automotive parts such as side skirts, wiper cowls, roll pans, and bumpers. This growth in the automotive industry will boost the PU foam blowing agents as they are used in the production of PU foam.
Refrigerator manufacturers are increasingly adopting technological changes in refrigeration systems by procuring blowing agents with lower GWP as it helps them to meet the impending energy and environmental regulations. This is encouraging the appliance PU industry to examine high performance and cost-effective blowing agents with improved thermal gas conductivity. It also helps them to maintain their cost and performance position in the market. The introduction of such technical changes in refrigeration systems in the appliance PU industry will drive the polyurethane foam blowing agents market to grow at a CAGR of over 6% during the forecast period.
The polyurethane foam blowing agents market is highly fragmented. Several manufacturing units of PU foams are being established in countries in APAC including Malaysia, India, and China due to the availability of cheap labor in these countries. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, the industry analysis report will help clients identify new growth opportunities and design innovative strategies to improve their share in the market.
The report offers a complete analysis of various companies including:
APAC will hold the highest market share throughout the forecast period. The growing consumption of PU foam blowing agents in industries such as construction, medical devices, automotive, packaging, and furnishing and bedding is one of the primary reasons for the high growth of the polyurethane foam blowing agents market in this region.
The HC segment will account for the highest share of the polyurethane foam blowing agents market due to the growing use of HC-based foam blowing agents in diverse applications such as refrigeration insulation, sandwich panels used in transportation, construction insulation, and packaging insulation.