During the projected period, the market for blowing agents is anticipated to grow at a CAGR of more than 3.5%. The increase in demand for polymeric insulating foams for buildings, automobiles, and appliances is one of the main reasons driving the market under study. Blowing agent market growth is anticipated to be hampered by strict environmental laws.
Future opportunities may arise from the high demand for blowing agents with low global warming potential (GWP) and zero ozone depletion potential (ODP).
North America dominated the market under study over the predicted period in terms of revenue. Asia-Pacific dominated the global market in terms of volume.
The blowing agents market is divided into segments based on product type, foam type, usage, and region. Hydrochlorofluorocarbons, Hydrofluorocarbons, Hydrocarbons, Hydrofluoroolefins, and Other Product Types are the different product categories that make up the market. Polyurethane Foam, Polystyrene Foam, Phenolic Foam, Polypropylene Foam, Polyethylene Foam, and Other Foam Types are the many types of foam that are divided into market segments. The market is divided into categories according to application, including Automotive, Bedding and Furniture, Appliances, Packaging, and Other Applications. The market size and projections for blowing agents in 14 countries across various regions are also included in the report. The market size and forecasting for each segment have been done using volume (kilo tons).
Blowing agents are chemical compounds that produce the gas that is used to expand plastics, rubber, and ceramics to create foam. They are light in weight, heat insulating, and electrically conductive. Due to rising demand from end-use sectors like construction, packaging, and automotive, the worldwide blowing agent market is anticipated to expand significantly. The product, which has excellent qualities like increased acoustics, heat & electric insulation, flexibility, and lightweight, is generally employed as adhesives in the aforementioned end-use sectors.
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Critical Market Trends
Demand from the Building and Construction Industry is Growing
Blowing agents are employed in building and construction because they are non-VOC, non-ozone depleting, have a minimal potential to cause global warming, and consume less energy. They aid in the production of more uniform parts that lead to better, tighter insulation, increased energy efficiency, and minimal energy use.
Blowing agents are a component of building insulation used in foundation-dependent buildings, doors, sheathing, block pipe insulation, and roof insulation. They are also applied to doors and windows as sealants.
They are mostly utilised in polyurethane foams, which are extensively employed in pipes to stop heat loss, sustain temperatures even in cold areas, and prevent freezing or cracking for long-distance heating.
The blowing agent market is dispersed globally. Along with multinational competitors, the market has a large number of domestic players. Among the leading businesses are, among others, Honeywell International Inc., The Chemours Company, Arkema, Sinochem Group Co. Ltd., and Nouryon.
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- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa