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 Share 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 share 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 share 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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