Foam blowing agents Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2030
Foam blowing agents
are used in various end-user industries such as building and construction,
automobile, electronics, and food packaging among others. The growing demand
from the developing regions are the major factors driving the global market of
foam blowing agents. The growing demand from the automobile sector coupled with
the increasing government investments in the infrastructural development is
other factors contributing to the growth of the market. Among the various
end-user industry automobile is the dominant segment and is expected to show
the same trend during the forecast years.
Market Segmentation:
The global Foam
Blowing Agents Market is segregated into chemistry, product type, and
end-user industry. On the basis of the 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.
Market Scenario:
The hydrofluorocarbons (HFCs) segment is the leading
product type in the market and polyurethane is the leading application segment.
The growing usage of polyurethane in a wide range of end-user industries such
as automotive, building & construction, appliances, apparels, flooring, and
furnishing among others is significantly contributing to the growth of the
segment.
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Regional Analysis:
The global foam blowing agents market is spanned
across five key regions: North America, Europe, Asia Pacific, the Middle East
& Africa and Latin America, . Among these, Asia Pacific holds is the
fastest growing market and is anticipated to continue to show the same trend
during the forecast period. The developing end-user industries in the region
such as automobile and building & construction are expected to boost the
market growth. Moreover, shifting of the manufacturing base owing to the
favorable government regulations in the Asia Pacific region, which has further
propelled the market growth. The key countries contributing to the growth of
the foam blowing agents market are India, China, and Japan. North America
is another dominant region in the market foam blowing agents. The growing
adoption rate of foam blowing agents along with the developed end-user
industries is the substantially contributing to the growth of the market. The
key countries attributing to this growth are U.S. and Canada. European
market of foam blowing agents is mainly driven by the developed automobile and
electronics industry. The growing application of foam blowing agents in the
steering wheels, seats, door panels and others is augmenting the growth of the
market in this region.
Competitive 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) among others.
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