Higher Production of Eco-friendly Foam Blowing Agents to Push Sales by 6% CAGR through 2031

- Polyurethane to Command Over 60% of Sales in Foam Blowing Agents Market

- Fact.MR's latest report on foam blowing agents market presents a thorough study of drivers, latest trends, and restraints affecting growth in the market through 2031. It also identifies leading segments in terms of product type, application and end-use industry.

NEW YORK, Nov. 16, 2021 /PRNewswire/ -- As per latest Fact.MR analysis, the global foam blowing agents market is expected to surpass US$ 1 Bn in 2021. With growing popularity of eco-friendly and energy efficient foam blowing agents, the overall market is projected to expand at 6% CAGR between 2021 and 2031, reaching a valuation of around US$ 1.8 Bn by 2031.

The increasing adoption of foam blowing agents in various industries such as electrical and electronics, automotive, and building and construction will push sales in the market globally.

Foam blowing agents produce cellular structure through foaming process and enhance thermal & acoustic insulation and flexibility of final products. They are increasingly utilized for upgrading and improving certain properties of polymers.

In recent years, sales of hydrocarbon (HC) blowing agents such as isopentane, cyclopentane, n-butane, and other ecofriendly blowing agents have surged. Sales in the market will continue increasing due zero-ozone depletion potential (ODP) and low global warming potential (GWP) of foam blowing agents.

Implementation of stringent t regulations to reduce emission of ozone depleting gases such as chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HFCs) is supporting the adoption of these ecofriendly products.

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With expansion of construction, automotive, and electrical & electronics sectors, scope for application of foam blowing agents will improve over the forecast period.

In terms of application, polyurethane foam blowing agents will continue to dominate the global market, accounting for around 60% of sales by 2031. This is attributable to the growing popularity of polyurethane foam materials due to their ecofriendly nature and excellent insulating features.

Regionally, Asia will emerge as the most lucrative market for foam blowing agents. Sales in the region will be driven by rising demand in construction and electrical and electronics sectors.

"Market players are expanding their portfolio to include eco-friendly and non-ozone depleting line of foam blowing agents. Their focus on keeping pace with evolving needs across various industries will push growth in the foam blowing agents market," says a Fact.MR analyst

Key Takeaways from Foam Blowing Agents Market Survey

• Asia foam blowing agents market will account for around 45% of global share by 2031.
• Steered by growing demand for ecofriendly blowing agents, North America is projected to account for around 25% market share.
• Foam blowing agents market in China, Japan and India is anticipated to register strong growth on account of rapid urbanization and surging insulation applications.
• Polyurethane foam blowing agents category is expected to account for around 3/5^th of market share during the forecast period.
• By end-use industry, electrical and electronics segment will account for 40% revenue share by 2031.

Key Drivers

• Surging demand for foam polymers in construction and automotive industries is creating demand for foam blowing agents.
• Growing popularity of eco-friendly and energy efficient foam blowing agents is projected to create lucrative growth opportunities for the market.

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Competitive Landscape

Leading manufacturers are focusing on developing of environmentally friendly and energy-efficient blowing agents. They are employing strategies such as mergers, partnerships and collaborations to expand their global footprint.

• In November 2021, the Chemours Company, a global chemistry company announced a new production line dedicated to the expansion of its non-ozone depleting, low global warming potential (GWP) hydrofluoroolefin (HFO) platform – Opteon™ 1150, chemically referred to as HFO-1336mzzE.
• In October 2021, Honeywell announced that the global adoption of its Solstice^® low-global-warming-potential (GWP) refrigerants, blowing agents and aerosols has avoided potential release of the equivalent of more than 250 million metric tons of carbon dioxide into the atmosphere, equal to eliminating the potential emissions from more than 52 million cars per year.

Some of the prominent players operating in the foam blowing agents market profiled by Fact.MR are:

• Arkema S.A
• E.I DuPont de Nemours (DuPont)
• Foam Supplies, Inc.
• Guangzhou Jiangyan Chemical Co., Ltd
• HCS Group GmbH
• Honeywell International Inc.
• Linde Group
• Marubeni Corporation
• Solvay S.A
• The Chemours Company
• Others

More Insights on the Global Foam Blowing Agents Sales Outlook

Fact.MR provides an unbiased analysis of foam blowing agents market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for foam blowing agents with a detailed segmentation on the basis of:

Product Type

• HC Foam Blowing Agents
• HFC & HCFC Foam Blowing Agents
• Foam Blowing Agent Blends
• HFO Foam Blowing Agents
• Methylal and Methyl Formate
• Others (Liquid CO2 and Water)

Application

• Polyurethane Foam Blowing Agents
• Polystyrene Foam Blowing Agents
• Phenolic Foam Blowing Agents
• Others (PVC Foams, Polyisocyanurate Foams)

End Use Industry

• Building and Construction
• Electrical and Electronics
• Furniture and Bedding
• Automotive
• Footwear
• Others (Textiles, Medical, etc.)

Key Questions Covered in the Foam Blowing Agents Market Outlook Report

• The report offers insight into foam blowing agents demand outlook for 2021-2031
• The market study also highlights projected sales growth for foam blowing agents market between 2021 and 2031
• Foam blowing agents market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Foam blowing agents market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

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