Foam Blowing Agents Market Size And Forecast
The Global Foam Blowing Agents Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Foam Blowing Agents Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Foam Blowing Agents Market was valued at USD 1.43 Billion in 2019 and is projected to reach USD 2.26 Billion by 2027, growing at a CAGR of 5.9 % from 2020 to 2027.
What is Foam Blowing Agents?
Foam blowing agents are utilized as additives in a formulation mixture that is used for the production of polymer foams. The thermal conductivity of foam blowing agents is a critical parameter that ascertains the characteristics of polymer foams. Lower the thermal conductivity of a foam blowing agent, better the performance of the polymer foam.Hydrocarbons (HCs), hydrofluorocarbons (HFCs), hydro-chlorofluorocarbons (HCFCs), hydro-fluoro olefins (HFOs), methylal and methyl formate, and liquid carbon dioxide are some of the standard foam blowing agents that are applied for the production of polymer foams. Foam blowing agents are highly adopted for the production of polyurethane foams.
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Foam blowing agents are of two types, these are physical and chemical. Chemical foam blowing agents experience chemical reactions to produce byproducts such as water, whereas, physical foam blowing agents remain inert on the polymer matrix. Key applications of foam blowing agents comprise the manufacture of polyurethane foams, polystyrene foams, and phenolic foams. These foams are widely used for insulation applications in a wide range of end-use industries such as electrical & electronics, building & construction, furniture & bedding, automotive, and footwear.
Global Foam Blowing Agents Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The surge in the demand for foam blowing agents for excellence in consumer appliances is a key factor driving the global blowing agents market. Among the various types of consumer appliances, such as refrigerators, air-conditioners, water heaters, and other domestic appliances, foam blowing agents are highly consumed in refrigerators. A rise in the labor force in the refrigeration sector, both, in developed and developing countries, is predicted to enlarge the sector, thereby kindling the demand for insulation foams and foam blowing agents.
However, spray polyurethane foam comes with a series of health challenges, especially for those suffering from lung disorders, asthma, and skin conditions. Individuals with a history of such medical conditions might be restricted from working under such conditions, which, in turn, may hamper the growth of the foam blowing agents market. With a high Global Warming Potential (GWP) score, regulations are slowly coming into place to phase out the use of HFCs and other less environment-friendly foam blowing agents.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Foam Blowing Agents Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Foam Blowing Agents Market Competitive Landscape
The “Global Foam Blowing Agents Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Honeywell International Inc., Arkema S.A., E.I duPont de Nemours, Inc. (DuPont), Linde Group, The Chemours Company, Solvay S.A., Foam Supplies, Inc., Marubeni Corporation, Guangzhou Jiangyan Chemical Co, Ltd, and Others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Foam Blowing Agents Market, By Product
• HC
• HFC & HCFC
• Blends
• HFO
• Others
Foam Blowing Agents Market, By Application
• Polyurethane Foams
• Polystyrene Foams
• Phenolic Foams
• Others
Foam Blowing Agents Market, By End Use Industry
• Building & Construction
• Electrical & Electronics
• Furniture & Bedding
• Automotive
• Others
Foam Blowing Agents Market, By Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
o Middle East & Africa
o Latin America
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