Foam Blowing Agents Market Trends, Forecast, Trend Analysis & Competition Tracking
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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