Foam Blowing Agents Market Trends, Share, Size, Global Industry Key Tactics, Technology, Trends and Opportunities Forecasts to 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 Trends 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 trends 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 trends 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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