LONDON--(BUSINESS WIRE)--The global polyurethane foam blowing agents market size is poised to grow by USD 132.60 million during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The economic and industrial development in countries such as India, China, Malaysia, Russia, and Brazil have fueled the growth of various end-user industries such as the construction, automotive, electrical and electronics, paper manufacturing, paints and coatings, and others. This has increased the use of PU foams in a variety of industrial applications. For instance, in the automotive industry, PU foams are used in making seats, headrests, armrests, roof liners, dashboards, and instrument panels. Similarly, in the furnishing industry, PU foams are used to make office chairs, stadium seats, auditorium seats, carpets, and other luxury beds and furniture. Therefore, the rising demand for PU foams from developing countries is expected to fuel the growth of the global PU foams market during the forecast period.
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- The major polyurethane foam blowing agents market growth came from the HC-based foam blowing agents segment in 2019. The HC-based foam blowing agents are less expensive and exhibit good dimensional stability. Also, the availability of various HC-based foam blowing agents such as cyclopentane, n-pentane, iso-pentane, iso-butane, n-butane, and methyl formate is fueling the growth of the segment.
- APAC was the largest market for PU foam blowing agents in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the strong growth of the automobile industry in the region.
- The global polyurethane foam blowing agents market is concentrated. Arkema SA, DUNA-Corradini Spa, Exxon Mobil Corp., Foam Supplies Inc., HCS Holding GmbH, Harp International Ltd., Honeywell International Inc., KibbeChem Inc., Solvay SA, and The Chemours Co. are some of the major market participants. To help clients improve their market position, this polyurethane foam blowing agents market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global polyurethane foam blowing agents market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/polyurethane-foam-blowing-agents-market-industry-analysis
Superior properties of PU foams will be a key market trend
PU foams can be molded into stronger elastomers and rigid plastics. They exhibit superior abrasive resistance, chemical resistance, wear and tear resistance, resistance to cold and high heat, and excellent noise reduction and sound damping properties. PU foams are also light in weight, can withstand heavy loads, and act as electrical insulators. Such properties have increased the use of PU foams in various industrial applications, which is fostering the growth of the market.
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Polyurethane Foam Blowing Agents Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist polyurethane foam blowing agents market growth during the next five years
- Estimation of the polyurethane foam blowing agents market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the polyurethane foam blowing agents market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of polyurethane foam blowing agents market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- HC - Market size and forecast 2019-2024
- HFO - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Arkema SA
- DUNA-Corradini Spa
- Exxon Mobil Corp.
- Foam Supplies Inc.
- HCS Holding GmbH
- Harp International Ltd.
- Honeywell International Inc.
- KibbeChem Inc.
- Solvay SA
- The Chemours Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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