The polyurethane foam blowing agents market will register a CAGR of over 6% by 2023
NEW YORK, March 27, 2019 /PRNewswire/ -- About this market
The growing demand for PU foams in emerging economies such as India, China, Malaysia, Russia, and Brazil is attributed to the economic and industrial development in these countries. PU foams are used in industries such as the construction, automotive, electrical and electronics, paper manufacturing, paints and coatings, and oil and gas. The rise in demand for PU foams, the demand for foam blowing agents such as HC, HFC, HCFC, and HFO increases. Technavio's analysts have predicted that the polyurethane foam blowing agents market will register a CAGR of over 6% by 2023.
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Market Overview
Growing demand for PU foam blowing agents from automotive and construction industries
The rise in automotive production, the demand for PU foams is increasing, PU foams are increasingly used in the manufacture of interior components in cars such as seats, headrests, armrests, roof liners, dashboards, and instrument panels. Hence, with the increased use of PU foams, the demand for PU foam blowing agents is rising.
Increased availability of alternative blowing agents
Chlorofluorocarbons (CFCs) and HCFCs, which include CFC-11, CFC-12, HCFC-141b, and HCFC-142b, have been used as high-performance PU foam blowing agents because of their physical properties such as relatively high molecular weight, stability, and low toxicity. Although HCFC-141b has been widely used as a blowing agent, its production is stopped.
For the detailed list of factors that will drive and challenge the growth of the polyurethane foam blowing agents market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be highly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
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