LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global polyurethane additives market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global polyurethane additives market is expecting an increasing demand from various end-use industries such as building and construction, automobile and transportation, and bedding and furniture. The building and construction segment had the largest share of almost 37% of total market share in 2016. The rising demand for insulation panels from the construction industry due to its energy savings is expected to drive the demand for polyurethane additives. By application, the foam segment had the largest market share, due to high demand from the automobile and construction industry.
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The top three emerging trends driving the global polyurethane additives market according to Technavio chemicals and materials research analysts are:
- Growing demand for rigid appliances foam
- Increase in R&D activities
- Development of environment-friendly polyurethane additives
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Growing demand for rigid appliances foam
“As the need for energy efficiency pushes the demand for advanced appliance foam, polyurethane additives help to create performance advantages. They provide improved insulation for appliance products and improve the application of foam through complex cabinet designs. They also help to reduce foam defects to achieve new standards for energy loss,” says Hitesh Bhatia, a lead analyst at Technavio for research on additives, adhesives, and sealants.
The increase in demand for insulation of refrigeration appliances, such as household and commercial refrigerators, made of silicone surfactants and amine catalysts polyurethane additives is expected to drive the global market.
Increase in R&D activities
“Major polyurethane additives players have increased their R&D expenditure to reduce the manufacturing cost and provide products with enhanced properties and usage. Growing R&D expenditure is a major trend being witnessed by the global polyurethane additives market in the recent years. Therefore, to maintain a competitive edge and a significant market share, the manufacturers have been heavily emphasizing on innovations and developments,” adds Hitesh.
The Dow Chemical Company has developed the RENUVA Renewable Resource Technology, which breaks down natural oil to provide better quality and consistency. This technology has giving birth to an improved generation of greener performance-based polyols. The other leading vendors in the market, such as BASF and Huntsman International, have also increased their investment in R&D with an aim to improve the efficiency and performance of rigid foams.
Development of environment-friendly polyurethane additives
There is a strong preference in the developed countries such as the UK, Canada, the US, and Germany to develop polyurethane additives that are environment-friendly. Energy-saving polyurethane additives are becoming popular in the developing regions such as India, Japan, and Indonesia.
Environment-friendly polyurethane additives help in reducing the release VOCs and toxic gases from industries, thereby providing better sustainability and maintaining the ecological balance of the atmosphere in the vicinity. This trend to opt for environment-friendly polyurethane additives is expected to boost the growth of the market.
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