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The Global Blowing Agents Market has been valued at USD XX billion in 2020 and is anticipated to grow at a CAGR of XX% during the forecast period from 2020 to 2028. The growth of the global market can be mainly attributed to the wide use of blowing agents across a number of applications in the construction industry, including acoustics, heat & electric insulation, and as shock absorbers. They are commonly used because of their weight reduction property, which is useful for acoustic application in the automotive industry.
In addition, several other characteristics of blowing agents such as lower energy consumption and low global warming potential have contributed to a rise in the preference for such environmental-friendly components in the market. The growth of the global market for blowing agents is being substantially propelled by this factor. Furthermore, the rising demand for polymeric foams, especially polyurethane foams, is fueling the demand for blowing agents due to the rapid growth of end-use industries such as construction and appliances.
Blowing agents are mainly used for various foam properties, such as weight reduction, acoustics, and shock absorbency, heat & electrical insulation, permeability, and good elasticity. Heat insulation and electrical induction are used to produce the gas that is used to create foam in expanding plastics, rubber, and ceramics. Due to the growing demand for blowing agents from end-use industries such as building, packaging, and automotive, the global blowing agents market is expected to experience significant growth. In the aforementioned end-use industries, blowing agents are mainly used as adhesives
FIGURE 1: BLOWING AGENTS MARKET
The global blowing agents market has been segmented as product type, foam, process, and end-use industry.
FIGURE 2: BLOWING AGENTS MARKET SEGMENTATION
Blowing Agents Market, By Product Type
Based on the product type, this market is classified into hydrochlorofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), hydrocarbons (HCs), hydrofluoroolefin (HFO), and others. The hydrocarbons (HCs) segment is expected to witness significant growth over the forecast period. Over the past few years, hydrocarbons (HCs) such as butane and pentane have dominated the market for blowing agents, and they account for over 50 percent of demand. In various industries such as chemicals, rubber, and plastics, the low global warming potential (GMP) and low operating costs associated with hydrocarbons (HCs) make them the preferable option for blowing agents.
Blowing Agents Market, By Foam
Based on foam, the global blowing agents market is segmented into polyurethane foam, polystyrene foam, phenolic foam, polypropylene foam, polyethylene foam, and others. Polyurethane foam is a major type of polymer foam that uses blowing agents. Due to a broad range of applications in infrastructure, automobiles, and chemicals, polyurethane dominates the polymer foam market for blowing agents.
Blowing Agents Market, By Process
Based on the process, this market is classified into exothermic chemical process, endothermic chemical process, and others. The exothermic process segment is expected register significant growth in the forecast period. Exothermic processes release energy upon the completion of the process and are marked by a negative change in enthalpy (signified as H, a measure of the total energy of a system). Exothermic reactions release energy typically in the form of heat or light. Energy is released in an exothermic reaction when the total energy of the components is below the total energy of the reactants. The shift in enthalpy is, therefore, negative for exothermic reactions, and heat is released into the surroundings.
FIGURE 3: BLOWING AGENTS MARKET (USD MILLION), BY END-USE INDUSTRY
Blowing Agents Market, By End-use Industry
Based on the end-use industry, the global blowing agents market is categorized into building & construction, automotive, furniture & fixtures, packaging, medical, and others. The building & construction segment is projected to grow significantly over the forecast period. In building insulation, such as block pipe and roof insulation, doors, sheathing, and in structures requiring foundation, blowing agents are used as a primary component. They are also used as window and door sealants. They are primarily used in polyurethane foams, which in turn, are widely used in pipes to avoid heat loss and sustain temperatures, even in cold climates, in order to prevent freezing or cracking for long-distance heating.
Blowing Agents Market, By Region
By region, the global blowing agents market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region is estimated to witness substantial growth with a higher CAGR over the forecast period. Since China has the world's largest construction industry, it has dominated the Asia Pacific region in terms of blowing agent consumption.
China has the world's second-largest packaging industry and is expected to experience steady growth during the forecast period on account of a rise in custom packaging and rising demand for microwave food, snack foods, and frozen foods. In addition, the rapid development of infrastructure in the Asia Pacific region, coupled with supportive government initiatives, is fueling market growth in emerging economies such as India.
Key Developments:
What does This Report Provide?
This report provides a detailed understanding of the global blowing agents demand from a qualitative and quantitative perspective with a forecast for the next 10 years. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the global blowing agents market.
The major market drivers, challenges, and opportunities for the global blowing agents market have also been covered in the report. This report also includes the market share of the leading companies operating in the blowing agents market, along with their production capacities and the growth strategies adopted by them.
Market Segmentation:
By Product Type
By Foam
By Process:
By End-use Industry:
By Region:
North America Blowing Agents Market
Europe Blowing Agents Market
Asia Pacific Blowing Agents Market
Middle East & Africa Blowing Agents Market
South America Blowing Agents Market
Major Companies: In this report, the following major companies are studied: Honeywell International Inc., Solvay SA, Arkema SA, Exxon Mobil Corporation, Linde plc, Daikin Industries, Ltd., The Chemours Company, Haltermann Carless, Foam Supplies, Inc., Harp International Ltd., Lanxess AG, AkzoNobel NV, Eiwa Chemical, KibbeChem, Inc., and others.
Objectives of This Report:
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