openPR Logo
Press release

Blowing Agents Market: Industry Applications, Trend, Outlook and Opportunity Analysis, 2016-2024

04-24-2018 02:48 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Blowing Agents Market

Blowing Agents Market: Industry Applications, Trend, Outlook

Blowing agents are light in weight, heat insulation, and electrical induction chemical substances that are used to generate the gas that is used in expanding of plastics, rubber, and ceramics to create foam. The global blowing agents are expected to witness substantial growth owing to increasing demand from end-use industries such as construction, packaging, and automotive. The product is primarily used in the aforementioned end-use industries as adhesives, exhibiting superior properties including improved acoustics, heat & electric insulation, elasticity, and lightweight.

Sample Copy of This Report @https://www.coherentmarketinsights.com/insight/request-sample/255

Rising infrastructure development in Asia Pacific is expected to increase market penetration

Blowing agents are widely used across a number of application in the construction industry including acoustics, heat & electric insulation, and shock absorbers. Furthermore, rising infrastructure development in Asia Pacific coupled with supportive government initiatives, in emerging economies such as India, is fueling growth of the market. For instance, in 2016, the Indian government announced plans to invest US$ 376.53 billion to improve the infrastructure, roads, transport facility, and shipping over of the following three years. Encouraging foreign direct investment (FDI) in the region is likely to propel the construction industry in the region, which in turn is expected to increase demand for blowing agents in the near future.

Robust automobile industry growth is expected to aid market growth over the forecast period

Demand for blowing agent products by the automobile industry, is rapidly rising due to the weight reduction property of the agents that are useful for acoustic application. As the demand for products of the automobile industry is increasing, the demand for light is a major factor fueling market growth. The global automobile industry produced over 90 million cars and commercial vehicles in 2015, which is expected to increase significantly over the following five years owing to strong indicators in Asia Pacific. These trends coupled with rising efforts to improve fuel efficiency by reducing the overall weight of automobiles, is expected to have a positive impact on growth.

Stringent regulations promoting the use of eco-friendly blowing agents

The market is segmented on the basis of product type into hydrochlorofluorocarbons (HCFC), hydrofluorocarbons (HFC), and hydrocarbons. Hydrofluorocarbons accounted for the largest share in the market, owing to its low ozone depletion potential. Furthermore, stringent regulations barring the use of HCFC, in 2003 EPA issued baseline for production and import of HCFC-22 and HCFC-142b. Moreover, the UK government made it mandatory to recover and recycle the HCFC used in the refrigeration unit. Owing to its contribution towards ozone depletion coupled with a potential phase out in the near future, HCFC is expected to have a positive impact on eco-friendly blowing agents over the forecast period. However, phasing out of HCFC results in high technology shifting costs, which is expected to restrain market growth to a certain extent.

Due to low operating cost and global warming potential, the hydrocarbons segment is expected to witness substantial growth over the forecast period. Thus increasing its use in various end-use industries. However, abrupt changes in climate, global warming, and ozone depletion are the primary environmental issue, so the global agreement such as Montreal and Kyoto protocol which limits severely in the use of blowing agents.

Polyurethane foams dominate the market owing to its superior insulating and shock absorbing properties

The market is segmented on the basis of foam type into polyurethane, polystyrene, phenolic, and polyolefin. Polyurethane segment hold a dominant position in the market, owing to its wide application scope in an array of industries such as automotive industry for manufacturing seats, insulation, gaskets, seal, and bushing. Moreover, it is used in flooring in the construction industry and also to seal boat hulls from water in the marine industry. This is mainly attributed to its superior insulating and shock absorbent properties.

Rapid growth of the economy and population in the Asia Pacific region, has led to an increase in urbanization and industrialization. The polyurethane foam is expected to witness substantial demand in this region, due to a rise in the application scope in automobile and construction industries. Furthermore, core application industries growing at a substantial pace particularly in India, Indonesia, and Vietnam is expected to drive growth over the forecast period. In addition, increasing foreign direct investment in the region primarily due to high market potential, as well as low labor and land cost is likely to propel growth of the blowing agents market, over the next few years.

The blowing agents market is expected to exhibit below average growth in North America and Europe, owing to mature end-use industries in these regions. Furthermore, stringent regulations by EPA in 2003, and by UK to limit the use, recovery, and reuse of HCFC. Governing the use of blowing agents is expected further expected to hamper growth over the following few years. However, gradual recovery of the construction industry—one of the key end-use industries for blowing agents—in both the regions, is expected to have a positive impact on market growth.

To get detailed table of content (ToC) @ https://www.coherentmarketinsights.com/ongoing-insight/toc/255

Honeywell, Solvay, Arkema are key industry players in the blowing agents market. Continuous research and development, technological advancement, and marketing strategies help in attaining the highest market share in the global blowing agents market. Solstice Liquid Blowing Agent, the latest product developed by Honeywell, is the least harmful to the environment and possesses immense potential to replace HC, HFC, and HCFC, in the future. Blowing agents industry is a consolidated market place with a large number of small manufacturers present in the industry. This trend is primarily witnessed in Asia Pacific, which is one of the major producers of blowing agents. Furthermore, the industry comprises of leading players with global presence including DuPont, Arkema S.A., Honeywell International Inc., Solvay S.A., Foam Supplies, Inc., AkzoNobel NV, Haltermann GmbH, Linde AG, Americhem, and HARP International Ltd.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Blowing Agents Market: Industry Applications, Trend, Outlook and Opportunity Analysis, 2016-2024 here

News-ID: 1028780 • Views:

More Releases from Blowing Agents Market

Rising infrastructure development in Asia Pacific is expected to increase Blowing Agents Market penetration
Rising infrastructure development in Asia Pacific is expected to increase Blowin …
Blowing agents are light in weight, heat insulation, and electrical induction chemical substances that are used to generate the gas that is used in expanding of plastics, rubber, and ceramics to create foam. The global blowing agents are expected to witness substantial growth owing to increasing demand from end-use industries such as construction, packaging, and automotive. The product is primarily used in the aforementioned end-use industries as adhesives, exhibiting superior

More Releases for HCFC

Hydrochlorofluorocarbons (HCFC) Refrigerant Market Size, Competitive Analysis, S …
HCFC Refrigerant are a group of compounds, whose structure is close to Chlorofluorocarbons (CFCs), with at least one hydrogen particles. Under typical conditions, HCFCs are gases or fluids, which evaporate effectively. HCFC’s are stable and present in inert form. HCFCs don’t break up in water, however do disintegrate in natural (carbon-containing) solvents. HCFCs are a part of a group of chemicals, known as volatile organic compounds (VOCs). HCFCs are chemicals
Hydrochlorofluorocarbons (HCFC) Refrigerant Market Trends, Size, Forecast - 2018 …
HCFC Refrigerant are a group of compounds, whose structure is close to Chlorofluorocarbons (CFCs), with at least one hydrogen particles. Under typical conditions, HCFCs are gases or fluids, which evaporate effectively. HCFC’s are stable and present in inert form. HCFCs don’t break up in water, however do disintegrate in natural (carbon-containing) solvents. HCFCs are a part of a group of chemicals, known as volatile organic compounds (VOCs). HCFCs are chemicals
HCFC Refrigerant Market Industry Trends, Growth, Size, Share, Analysis and Forec …
HCFC Refrigerant are a group of compounds, whose structure is close to Chlorofluorocarbons (CFCs), with at least one hydrogen particles. Under typical conditions, HCFCs are gases or fluids, which evaporate effectively. HCFC's are stable and present in inert form. HCFCs don't break up in water, however do disintegrate in natural (carbon-containing) solvents. HCFCs are a part of a group of chemicals, known as volatile organic compounds (VOCs). HCFCs are chemicals
Hydrochlorofluorocarbons (HCFC) Refrigerant Market Size, Share & Forecast to 202 …
Orion Market Research (OMR) recently published a market research report on the global HCFC refrigerant market. According to OMR analysis, the global HCFC refrigerant market is estimated to grow at a significant CAGR during the forecast period (2018-2023). HCFC refrigerant is a group of compounds, whose structure is close to Chlorofluorocarbons (CFCs), with at least one hydrogen particles. Under typical conditions, HCFCs are gases or fluids, which evaporate effectively.
Global HCFC Refrigerant Market Research and Forecast 2018-2023
Global HCFC refrigerant market size, share, market trends, research and analysis report by refrigerant (R-22, R-124, R-142B) by blend (R-401A, R-401B, R-401C) forecast 2018-2023 According to OMR analysis, the global HCFC refrigerant market is expected to grow at a significant CAGR during the forecast period 2018-2023. The market is estimated to grow at a significant rate owing to increasing use of HCFC refrigerants in consumer products like air-conditioners and refrigerators globally.
Global HCFC Refrigerant Market Research and Forecast 2018-2023
“Surging refrigeration and air-conditioning applications across various field will crank up the HCFC refrigerant market” According to OMR analysis, the global HCFC refrigerant market is expected to grow at a significant CAGR during the forecast period 2018-2023. The market is estimated to grow at a significant rate owing to increasing use of HCFC refrigerants in consumer products like air-conditioners and refrigerators globally. The global HCFC refrigerant market can be bifurcated into