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.
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. 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 considerable CAGR during the forecast years.
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Key Players and Competition Analysis
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.
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.
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
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. Browse the market data and information spread across 138 pages with 48 data tables and 13 figures of the report in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/foam-blowing-agents-market-5487
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