ID: MRFR/CnM/4041-HCR | February 2021 | Region: Global | 138 pages
Blowing agents are substances that produce a cellular structure through a foaming process in a wide a range of materials such as plastics, polymers, and metals. This cellular structure helps in reducing density and enhancing the acoustic & thermal insulation while increasing the stiffness of the original polymer. The demand from the application sector is the major factor driving the growth of the global foam blowing agents market. Some of the major applications of the foam blowing agents are building & construction, automotive, food packaging, and electronics.
The growing urbanization and globalization in the developing regions across the globe is expected to boost the market during the forecast years. The global foam blowing agents market is expected to expand at a 3.60% CAGR during the forecast years.
Among the various product type in foam blowing agents market, the hydrofluorocarbons (HFCs) is the leading segment of the market and is expected to continue its dominance over the forecast period. This growth is attributed to increasing use of hydrofluorocarbons (HFCs) as a substitute for the high global warming potential hydrochlorofluorocarbons (HCFCS). They are extensively used in air conditioning, refrigeration, building insulation, and fire extinguishing among others. Among the application segment, polyurethane foams are the leading and are expected to continue its dominance over the forecast period. The excellent properties of polyurethane foams make them ideal for the use of cushioning, insulation, energy saving, and automobile applications among others.
The Global foam blowing agent market share by product type industry.
Source: MRFR analysis
The foam blowing agents market is segregated across five regions: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be a fastest growing market with an expanding CAGR during the forecast period. The rapid growth of the industries and urbanization is fuelling the growth of the foam blowing agents in the developing countries of Asia Pacific. Moreover, the favorable government regulation in the region has attracted many industry players to enter the lucrative market of Asia Pacific, which, in turn, is fuelling the market growth. Furthermore, the presence of most populated countries has augmented the construction and automobile sector, which is further contributing to the market growth. China, India, and Japan are the largest consumers of foam blowing agents in this region. North America is a dominant region in the market for foam blowing agents. The developed end-user industries such as construction, transportation, and electronics among others are significantly driving the market growth. Moreover, growing renovation and construction of public and private infrastructure is further adding to the growth of the market in this region.
The European market is another dominant region mainly driven by the developed electrical & electronics, construction, and automobile sector. Moreover, the growing use of hydrofluorocarbons (HFCs) is substantially driving to the growth of the market. Additionally, the fast-paced lifestyle has fuelled the use of packaged food in the region, in turn, boosting the demand for foam blowing agents in the food packaging industry.
The global foam blowing agents market is segregated into chemistry, product type, and end-user industry. On the basis of chemistry, the global market is segmented into physical foam blowing agents and chemical foam blowing agents. Among the product type, the global foam blowing agents market is classified into hydrochlorofluorocarbons (HCFC), hydrofluorocarbons (HFC), hydro Carbons (HCS), hydrofluoroolefin (HFOS) and others. On the basis of the application, the global market is segmented into polyurethane foam (PU), polystyrene foam (PS), phenolic foam, polyolefin foam, and others.
Some of the prominent players operating in the global foam blowing agents market are Arkema S.A. (France), Honeywell International Inc. (U.S.), Exxon Mobil Corporation (U.S.), E.I. du Pont de Nemours & Company (U.S.), Haltermann GmbH (Germany), Harp International Ltd. (U.K.), Daikin Industries Ltd. (Japan), Sinochem Group (China), Solvay S.A. (Belgium), and ZEON Corporation (Japan). Geographical Analysis
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
November 2021 — A global chemical company with leading market positions in Chemical Solutions, The Chemours Company, announced the latest production line focusing on the extension of its Opteon™ 1150, a non-ozone depleting, low global warming potential (GWP) hydrofluoroolefin (HFO) platform.
The brand new product line in the facility, situated in El Dorado, Arkansas, will be totally operational by the start of next year with an primary 10% phase-down of CO2 counterparts as sketched in the United States.
Chemours has started accepting orders for Opteon™ 1150 from customers worldwide. Opteon™ 1150 joins the company’s non-flammable foam blowing agents portfolio with Opteon™ 1100 that are obtained from HFO technology and offer high performance in foam blowing applications and zero ozone depletion potential (ODP) low GWP.
The Chemours proves its sustainability commitment with the latest discovery to other companies, communities, and industries by supplying eco-friendly sustainable and energy-efficient products for meeting the varying regulatory landscape across the globe.
|Market Size||2030: Significant value|
|CAGR||2020–2030: 3.60% CAGR|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Chemistry, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Arkema S.A. (France), Honeywell International Inc. (U.S.), Exxon Mobil Corporation (U.S.), E.I. du Pont de Nemours & Company (U.S.), Haltermann GmbH (Germany), Harp International Ltd. (U.K.), Daikin Industries Ltd. (Japan), Sinochem Group (China), Solvay S.A. (Belgium), and ZEON Corporation (Japan).|
|Key Market Opportunities||The growing urbanization and globalization in the developing regions across the globe|
|Key Market Drivers||The demand from the application sector is the major factor|
Frequently Asked Questions (FAQ) :
The forecast period for Foam blowing agents Market research report is 2020-2030.
Global Foam blowing agents Market is dominated by APAC region.
Arkema S.A. (France), Honeywell International Inc. (U.S.), Exxon Mobil Corporation (U.S.), E.I. du Pont de Nemours & Company (U.S.), Haltermann GmbH (Germany), Harp International Ltd. (U.K.), Daikin Industries Ltd. (Japan), Sinochem Group (China), Solvay S.A. (Belgium), and ZEON Corporation (Japan).