May 2, 2019

Blowing Agents Market is projected to reach USD xx million by 2023

Blowing Agents Market Size and Growth Rate:

The Blowing Agents Market Size was capitalized at USD XX Million in 2018. The Blowing Agents Market is expected to exceed USD XX million by 2023 and grow at a compound annual rate of XX% from 2018 to 2023.

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Blowing Agents Market Overview:

Blowing agents are mostly used as additives in the polymeric foam industry. They are used as a part of the production process mainly to lend certain desired properties to polymeric foam. The major factor of blowing agents is steadily raising for companies as the demand for low-cost foam products rises.

The demand for the global blowing agent’s market growth is increasing, especially for the demand of polyurethane foams. It is due to the rapid up gradation in the end-user companies such as infrastructure and appliances. These agents are mainly used in the polymer industry as adhesives to inherit specific foam properties such as permeability and elasticity, acoustics and shock absorbency, weight reduction and heat and electric insulation. The blowing foam market holds the major share in the global blowing agents market due to the increase in applications such as chemicals, automobiles, and infrastructure. Hydrocarbon, butanes and pentanes, have mainly dominated the global market.

The primary factor that is hampering the global market growth is the strict regulations in terms of the harmful chemicals used in the blowing agents. Moreover, there have been researching and developments in the production of environment-friendly bio-based products.

Geographical Overview of Blowing Agents Market:

The segmentation based on region that is driving the global market of blowing agents is the Asia Pacific region. Countries in this region such as India, Japan, China, and South Korea are witnessing significant growth in the use of blowing agents for building & construction, appliances, and packaging industries. It is one of the well-consumed regions in the global market. China is one of the top blowing agent's consumers in the Asia Pacific region.

Additionally, the contribution to the global market by the ASEAN countries is mainly due to the increased industrial production levels. The developed counties such as North America and Europe are contributing their share towards the market growth of the blowing agents. These countries are also taking initiatives to utilize environment-friendly blowing agents.

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Key Players of Blowing Agents Market:

The major key players competing for world blowing agents market share are Arkema SA, Honeywell International Inc., Solvay SA, Exxon Mobil Corporation, Linde AG, and others. These companies are actively adopting different strategies such as collaborations, partnerships new product developments, merger & acquisitions, and expansion projects globally to increase their market share.

Blowing Agents Market Segmentation:

By Product Type:

·        Hydrochlorofluorocarbons (HCFCs)

·        Hydrofluorocarbons (HFCs)

·        Hydrocarbons (HCs)

By Foam Type:

·        Polyurethane Foam

·        Polystyrene Foam

·        Phenolic Foam

·        Polypropylene Foam

·        Polyethylene Foam

By Application:

·        Buildings & Construction

·        Automotive

·        Furniture

·        Appliances

·        Packaging

·        Apparel

By Region:

·        North America

·        South America

·        Europe

·        Asia Pacific

·        Middle East and Africa

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