Foam Blowing Agents Market- Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Product Type, Foam type and Application, and Region

Foam Blowing Agents Market was valued at US$ 1.29 Bn. in 2021. Global Foam Blowing Agents Market size is expected to grow at a CAGR of 5.1 % through the forecast period.

Foam Blowing Agents Market Overview:

Blowing agents are compounds that, create a cellular structure in a variety of materials like plastics, polymers, and metals through a foaming process. This cellular structure reduces density, improves thermal and acoustic insulation, and increases the rigidity of the original polymer. The application sector’s demand is the primary factor expected to drive the growth of the foam blowing agents market. Building and construction, automotive, food packaging, and electronics are some of the principal applications of foam blowing agents. Foam blowing agents have the potential to be used in a variety of eco-friendly products, including methyl formate, HFO, and methylal. Because of their low global warming potential (GWP), zero ozone depletion (OPD), non-toxic, and direct foaming agents were developed, resulting in a foam blowing agents revolution. The foam blowing agents market is expected to grow significantly due to foaming agents’ competitive advantages such as efficiency, environmental friendliness, and the best isolation features. Foam Blowing Agents Market To know about the Research Methodology :- Request Free Sample Report Foam blowing agents are non-flammable, while some liquid blowing agents have a boiling point near to room temperature. HFC (hydrofluorocarbon) foam blowing agents have traditionally been widely used because of their overall performance, appropriate boiling temperatures, and insulating qualities. There are gas and liquid blowing agents on the market with little ozone depletion potential and very low GWP (Global Warming Potential). 2021 is considered as a base year to forecast the market from 2022 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years’ trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis especially with the impact of lockdown by region.

Foam Blowing Agents Market Dynamics:

Market Drivers: High growth in polymeric foam sector: The packaging, automobile, building & construction, marine, transport, appliances, bedding & furniture, and packaging sectors are driving the polymer foam market. The development of the polymer foams market makes the use of blowing agents easier. As a result, the expected growth in demand for various types of polymeric foam in a variety of end-use applications will drive the Foam Blowing Agents market in the coming years. Increased population and disposable income: Rapid growth in the population and rise in the disposable income of the people are driving the construction sector in developing countries. As polymer foams are more used in the construction sector, this increase in the construction sector is resulting in the growth of the Foam Blowing Agents market. Increased floor and furniture sector: In recent years, the flooring and furnishing sector has grown as living standards have improved and purchasing power of people has increased. The thriving hospitality sector needs high-quality flooring and aesthetically pleasing furnishings. Polymeric foams are utilised in flooring and furniture to absorb shock while also providing a high-quality aesthetic look. Because of the rising use of polymeric foams, the foam blowing agents market would experience great development in the flooring and furnishing sectors. This increased floor and furniture sector is driving the Foam Blowing Agents market. Rising foam businesses: The Foam Blowing Agents Market is majorly driven by growing polystyrene, polyurethane, and other product-based foam businesses. Foam blowing agents are used in the production of polymeric foam to improve the required foam characteristics. Increased expenditures in the production of energy-efficient and environmentally sustainable blowing agents, with growing demands from the electrical and electronics sectors, will increase the total demand and supply of foam blowing agents. Polymeric foam is in high demand due to its use in the construction and appliance sectors. Market Restraints: Frequent changes in the selection of blowing agents: The foam blowing agent market is hampered by frequent changes in the choice of blowing agents in response to environmental laws such as the Montreal Protocol as well as other national and regional restrictions. Due to the adoption of these rules and regulations, the primary focus and purpose will be to reduce the harm to the ozone layer caused by the use of various types of blowing agents such as HCFCs and HFCs. As a result, foam makers are having difficulty picking an acceptable alternative that provides them with the right balance of required foam qualities and profitable operation. Market Opportunities: More popularity of environment-friendly blowing agents: The need for environmentally friendly blowing agents has increased dramatically in recent years and is expected to continue. Environmental awareness and governmental policies have enforced the use of eco-friendly blowing agents. The shift in preference towards environmentally friendly blowing agents as a result of severe climate change creates an opportunity for participants in the Foam Blow Agents market. Market Trends: In November 2021, The Chemours Company, a worldwide chemical firm with the leading market position in Chemical Solutions, announced the expansion of its OpteonTM 1150, a non-ozone depletion, lower global warming potential (GWP) hydrofluoroolefin (HFO) platform. Chemours has begun accepting orders for OpteonTM 1150 from clients all around the world. OpteonTM 1150 joins the firm’s portfolio of non-flammable foam blowing agents, which includes OpteonTM 1100, which is derived from HFO technology and offers exceptional performance in foam blowing applications as well as zero ozone depletion potential (ODP) and a low GWP. Chemours expresses its commitment to sustainability with the newest discoveries to other organizations, communities, and industries by offering eco-friendly, sustainable, and energy-efficient solutions to satisfy the changing regulatory landscape throughout the world. In October 2021, Honeywell International Inc. announced the global adoption of Soltice lower global warming potential refrigeration systems, avoiding the emission of 250 million metric tonnes of carbon dioxide into the environment. To cut carbon emissions, the corporation will continue to employ soltice.

Foam Blowing Agents Market COVID-19 Insights:

Because of the COVID-19 interruption, demand for blowing agents has decreased significantly due to the shutdown in the industrial and transportation sectors. The decline in the market for blowing agents has been affected by the decline in the demand for foam products from various sectors. To balance supply and demand and avoid inventory buildup, some blowing agent producers were running their plants at low capacity.

Foam Blowing Agents Market Segment Analysis:

Based on Product Type, the Hydrocarbons segment dominated the Foam Blowing Agents Market with 32% share in 2021. Due to their low global warming potential (GWP) and insignificant ozone depletion potential (ODP) as compared to fluorocarbons, hydrocarbon-based materials have seen increased demand in numerous applications such as refrigerators, and wall cladding, and roofing. The 2016 Montreal Protocol mandates developing nations to phase down HFC production and use by 2024, clearing the path for hydrocarbons as well as other green foaming agents. Hydrocarbons are commonly used in polyurethane foams in a variety of applications, including cars, household items, constructions, flooring, and furniture. Foam Blowing Agents MarketBased on the Foam Type, the Polyurethane Foam segment dominated the Foam Blowing Agents Market in 2021 with 49% share. Environmental benefits of Polyurethane Foam, such as lower greenhouse gas emissions, have increased its popularity. Essential characteristics such as increased flexibility make it a great insulating material for construction, increasing its market demand. Demand from the oil and gas and transportation sectors is also expected to be a significant driver of the polyurethane foam segment. Polyurethane is used in the oil and gas industry to protect pipes and ensure their smooth functioning. Based on the Applications, the electrical & electronics segment dominated the Foam Blowing Agents Market in 2021 with 39% share. Because of its application in consumer products such as refrigerators, water heaters, and other household appliances Rising demand for refrigeration for scientific applications is expected to drive demand. Rising technical advancements in this sector have also assisted growth. For example, the U.S. retailer Aldi has committed to increasing the use of energy-efficient & pollution-free non-HFC technologies for refrigerators and retail cooling systems to reduce greenhouse gas emissions.

Foam Blowing Agents Market Regional Insights:

The Asia-Pacific region dominated the market with 44 % share in 2021. Increasing population and building and construction activities are expected to trigger the demand for polyurethane foam as well as other blowing agents. Rapid urbanization and population growth in countries such as China, India, and Japan have raised the demand for insulation applications, increasing regional production and the use of foam blowing agents. The North America region is expected to witness significant growth at a CAGR of 4.7% through the forecast period. The presence of the pharmaceutical and food packaging sectors in this region is the main reason for the growth of the Foam Blowing Agents Market. Rising public awareness of the negative effects of using traditional blowing agents, along with a shift in consumer buying habits, has transformed market dynamics in the United States. The United States has set an ambitious goal of eliminating all production and use of all HCFCs by the end of 2030; as a result, demand for eco-friendly foam blowing agents has increased. These factors will help the growth of the Foam Blowing Agents Market during the forecast period. Europe is still in its development in this sector, accounting for around 16% of total revenue generation. Europe’s growth is linked to its increasing automotive sector and frozen food packing. Polyurethane foam is commonly found in automotive interiors such as seats, steering wheels, and door panels. As the automotive sector increases, the market in the Asia Pacific and Europe will benefit significantly. The objective of the report is to present a comprehensive analysis of the global Foam Blowing Agents Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Foam Blowing Agents Market dynamic, structure by analyzing the market segments and projecting the Foam Blowing Agents Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Foam Blowing Agents Market make the report investor’s guide.

Foam Blowing Agents Market Scope: Inquiry Before Buying

Foam Blowing Agents Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US$ 1.29 Bn.
Forecast Period 2022 to 2027 CAGR: 5.1% Market Size in 2027: US$ 1.74 Bn.
Segments Covered: by Product Type • Hydrocarbons • Hydrofluorocarbons • Hydrochlorofluorocarbons • Others
by Foam Type • Polyurethane • Polystyrene • Polyolefins • Others
by Application • Building and construction • Electrical and electronics • Furniture and Bedding • Automotive • Others

Foam Blowing Agents Market by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Foam Blowing Agents Market Key Players

Honeywell International Inc. (U.S.) • Arkema S.A. (France) • E.I. Du Pont De Nemours & Company (U.S.) • Haltermann Gmbh (Germany) • Harp International Ltd. (U.K.) • Daikin Industries • Sinochem Group (China) • Solvay S.A. (Germany) • Zeon Corporation (Japan) • Foam Supplies, Inc. • Guangzhou Jiangyan Chemical Co., Ltd • HCS Group GmbH • Linde Group • The Chemours Company Frequently Asked Questions: 1] What segments are covered in the Global Foam Blowing Agents Market report? Ans. The segments covered in the Foam Blowing Agents Market report are based on Product Type, Foam type and Application. 2] Which region is expected to hold the highest share in the Global Foam Blowing Agents Market? Ans. The Asia-Pacific region is expected to hold the highest share in the Foam Blowing Agents Market. 3] What is the market size of the Global Foam Blowing Agents Market by 2027? Ans. The market size of the Foam Blowing Agents Market by 2027 is expected to reach US$ 1.74 Bn. 4] What is the forecast period for the Global Foam Blowing Agents Market? Ans. The forecast period for the Foam Blowing Agents Market is 2021-2027. 5] What was the market size of the Global Foam Blowing Agents Market in 2021? Ans. The market size of the Foam Blowing Agents Market in 2021 was valued at US$ 1.27 Bn.
1. Global Foam Blowing Agents Market Size: Research Methodology 2. Global Foam Blowing Agents Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Foam Blowing Agents Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Foam Blowing Agents Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Foam Blowing Agents Market Size Segmentation 4.1. Global Foam Blowing Agents Market Size, by Product Type (2021-2027) • Hydrocarbons • Hydrofluorocarbons • Hydrochlorofluorocarbons 4.2. Global Foam Blowing Agents Market Size, by Foam Type (2021-2027) • Polyurethane • Polystyrene • Polyolefins • Others 4.3. Global Foam Blowing Agents Market Size, by Application (2021-2027) • Building and construction • Electrical and electronics • Furniture and Bedding • Automotive • Others 5. North America Foam Blowing Agents Market (2021-2027) 5.1. North America Foam Blowing Agents Market Size, by Product Type (2021-2027) • Hydrocarbons • Hydrofluorocarbons • Hydrochlorofluorocarbons 5.2. North America Foam Blowing Agents Market Size, by Foam Type (2021-2027) • Polyurethane • Polystyrene • Polyolefins • Others 5.3. North America Foam Blowing Agents Market Size, by Application (2021-2027) • Building and construction • Electrical and electronics • Furniture and Bedding • Automotive • Others 5.4. North America Foam Blowing Agents Market, by Country (2021-2027) • United States • Canada • Mexico 6. European Foam Blowing Agents Market (2021-2027) 6.1. European Foam Blowing Agents Market, by Product Type (2021-2027) 6.2. European Foam Blowing Agents Market, by Foam Type (2021-2027) 6.3. European Foam Blowing Agents Market, by Application (2021-2027) 6.4. European Foam Blowing Agents Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Foam Blowing Agents Market (2021-2027) 7.1. Asia Pacific Foam Blowing Agents Market, by Product Type (2021-2027) 7.2. Asia Pacific Foam Blowing Agents Market, by Foam Type (2021-2027) 7.3. Asia Pacific Foam Blowing Agents Market, by Application (2021-2027) 7.4. Asia Pacific Foam Blowing Agents Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Foam Blowing Agents Market (2021-2027) 8.1. Middle East and Africa Foam Blowing Agents Market, by Product Type (2021-2027) 8.2. Middle East and Africa Foam Blowing Agents Market, by Foam Type (2021-2027) 8.3. Middle East and Africa Foam Blowing Agents Market, by Application (2021-2027) 8.4. Middle East and Africa Foam Blowing Agents Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Foam Blowing Agents Market (2021-2027) 9.1. South America Foam Blowing Agents Market, by Product Type (2021-2027) 9.2. South America Foam Blowing Agents Market, by Foam Type (2021-2027) 9.3. South America Foam Blowing Agents Market, by Application (2021-2027) 9.4. South America Foam Blowing Agents Market, by Country (2021-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Honeywell International Inc 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Arkema S.A. 10.3. E.I. Du Pont De Nemours & Company 10.4. Haltermann Gmbh 10.5. Harp International Ltd 10.6. Daikin Industries 10.7. Sinochem Group 10.8. Solvay S.A. 10.9. Zeon Corporation 10.10. Foam Supplies 10.11. Guangzhou Jiangyan Chemical Co, Ltd 10.12. HCS Group GmbH 10.13. Linde Group 10.14. The Chemours Company

About This Report

Report ID 148767
Category Material & Chemical
Published Date May 2022
Updated Date
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