Foam Blowing Agents Market Overview:
Global Foam Blowing Agents Market is expected to reach $963 million by 2022 from $684 million in 2015 with a CAGR of 5.21% from 2016 to 2022. The foam blowing agents market is expected to witness notable growth due to the competitive advantages of the foam blowing agents such as enhanced efficiency, eco-friendliness, and better insulating properties.
Increasing applications of polymer foams in the construction and automotive sectors are expected to fuel growth in the coming years. Moreover, growing demand for polyurethane, polyolefins, and natural foam blowing agents, development of zero ODP and low GWP foam blowing agents, and enhanced efficiency of foam blowing agents are some of the other driving factors of this market. The impact of these drivers is expected to increase significantly due to the investment in the development of ecological and low-priced foam blowing agents.
Hydrocarbon-based products have witnessed the maximum demand in various applications such as refrigeration and wall sheathing & roofing, owing to its zero-global warming potential (GWP) and negligible ozone layer depletion potential (ODP), followed by hydrofluorocarbons. However, measures against harmful agents imposed by the government and various organizations of different regions are expected to hamper the market growth.
The global foam blowing agents market is segmented based on type, application, and geography. Based on type, the market is categorized into hydrocarbons, hydrofluorocarbons, hydrochlorofluorocarbons, and others that include hydrofluoroolefins, methyl formate, liquid CO2, and water. According to applications, the market is bifurcated into polyurethane, polystyrene, polyolefins, and others that include phenolic foams and polyvinyl chloride. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The applications of foam blowing agents in the construction and automotive industries such as for building insulation and as sealants for windows and doors drive the foam blowing agents market in North America. This market is anticipated to expand with a CAGR of 5.74% during the forecast period, whereas the foam blowing agents market in Mexico is expected to grow with a CAGR of 6.54% during the forecast period.
Mexico Foam Blowing Agents Market Size, 2016-2022 (CAGR%)
Top Investment Pocket
In the foam blowing agents market, the polyurethane application segment has witnessed large-scale adoption of foam blowing agents due to the increase in demand for polyurethane foams in the construction and automotive industries. In addition, increasing energy efficiency and better insulating properties of foam blowing agents have fostered the demand for foam blowing agents. The construction and automotive industries are the major end users of the foam blowing agents market. The applications of foam blowing agents are expected to increase in the subsequent years due to increasing demand for natural foam blowing agents. Other emerging applications, such as in footwear and furniture, are expected to witness decent growth in the coming years due to the introduction of new technologies in foam blowing agents that upgrades the properties and nature of polymer foams.
Top Investment Pockets
Top Impacting Factors
1.Growing demand for polyurethane foam due to growth in the construction industry
Increase in application of foam blowing agents is one of the driving factors of the foam blowing agents market. The construction industry is growing and this in turn has resulted in high demand for foam blowing agents. In addition, increasing requirement of high efficiency foam blowing agents for the manufacturing of polymeric foams has fueled the growth of the foam blowing agents market.
2.Technological advancements in foam blowing agents
The recent technological advancements in foam blowing agents have taken a step ahead in boosting the growth of the market. For instance, the Chemours Company’s introduced its latest technologies, Opteon™ 1100 foam blowing agent and BASF SPRAYTITE® foam insulation that offer homeowners excellent thermal insulation performance while reducing energy consumption, environmental footprint, and greenhouse gas emissions.
The top foam blowing agents industry players include 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. (Germany), and ZEON Corporation (Japan).
The other prominent foam blowing agents industry players include Linde AG (Germany), AkzoNobel N.V., Lychem International Co., Limited, BEO International, SPL Group, KSJN Catalyzing Industries, Sunwell Global Ltd., Marubeni Corporation, and Astra Polymers.
KEY BENEFITS FOR STAKEHOLDERS:
This report provides an extensive analysis of the current and emerging market trends and dynamics in the global foam blowing agents market.
Geographically, the global foam blowing agents market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive analysis of factors that drive and restrict the growth of the global foam blowing agents market is provided.
This report provides the quantitative analysis of the current market and estimations through 2014-2022, which assists in identifying the prevailing market opportunities.
Key market players within the global foam blowing agents market are profiled in this report and their strategies are analyzed thoroughly.
FOAM BLOWING AGENTS MARKET KEY SEGMENTS
Others (Hydrofluoroolefins, Methyl formate, Liquid CO2, and Water)
Others (Phenolic Foams and Polyvinyl Chloride)
Rest of Europe
Rest of Asia-Pacific