Foam Blowing Agents Market Boost By 2022 Due to Increasing Applications of polymer foams in the construction and automotive sectors.
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Foam Blowing Agents Market Report, published by Allied Market Research, forecast that the global market is expected to reach $963 million by 2022 from $684 million in 2015 with a CAGR of 5.21% from 2016 to 2022. In 2015, polyurethane accounted for approximately half of the total share in terms of volume.
Increase in demand for polyurethane foams, better insulating performance of foams and technological advancements are the major factors fueling the growth of the global foam blowing agents market. The rise in construction has propelled the demand for polyurethane foams with usage in insulating rooftops and buildings. In addition, the demand for high-efficiency polymeric foams in the construction sector is expected to augment the demand for foam blowing agents. The demand for polystyrene is expected to grow significantly, owing to applications in packaging and electronics. The Asia-Pacific region is projected to remain the dominant region in the world, followed by North America and Europe.
Strict environmental regulations against the use of harmful F-based foaming agents have escalated the demand for cost-effective, energy efficient, and eco-friendly foaming agents. In 2015, hydrocarbons witnessed the maximum demand in the market, owing to their applications in refrigeration, wall sheathing, and roofing followed by hydrofluorocarbons.
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Foam Blowing Agents Market Key Findings:
• In 2015, hydrocarbons occupied approximately two-fifths of the total share in terms of revenue.
• The hydrocarbons segment in the foam blowing agent market is expected to achieve a CAGR of 5.37% in terms of revenue from 2016-2022.
• The hydrofluorocarbons segment in the foam blowing agent market is expected to achieve a CAGR of 6.24% in terms of volume from 2016-2022.
• The Asia-Pacific region is projected to be the fastest growing region for the polyurethane segment in the foam blowing agent market.
• North America accounted for approximately one-fourth share by revenue in 2015.
• Investment by multinational companies and low developmental costs in China and India has fostered the market growth of foam blowing agents.
• In addition, China has the largest market for foam blowing agents in the Asia-Pacific region, followed by India due to the increase in demand for polyurethane foams in the construction and automotive industries.
Prominent market players in this market include
• Arkema S.A. (France)
• Honeywell International Inc. (U.S.)
• Exxon Mobil Corporation (U.S.)
• E.I. du Pont de Nemours & Company (U.S.)
• Haltermann GmbH(Germany)
• Harp International Ltd. (UK)
• Daikin Industries Ltd. (Japan)
• Sinochem Group
• Solvay S.A.
Chapter: 3 MARKET OVERVIEW
3.1 MARKET DEFINITION AND SCOPE
3.2 KEY FINDINGS
3.2.1 Top Impacting Factor
3.2.2 Top Winning Strategies
3.2.3 Top Investment Pockets
3.3 VALUE CHAIN ANALYSIS
3.4 PORTERS FIVE FORCES ANALYSIS
3.4.1 Moderate Bargaining Power Of Suppliers Due To a Large Number Of Suppliers And Low Switching Cost
3.4.2 Moderate Bargaining Power Of Buyer Due To a Large Number Of Buyer, High Demand, And Low Switching Cost
3.4.3 Less Product Differentiation, Minimum Ease Of Substitution And Low Cost Decreases The Threat Of Substitutes
3.4.4 Low Threat Of New Entrants Due To Presence Of Dominant Players And Strict Environmental Regulations
3.4.5 Presence Of Numerous Players, Low Brand Loyalty, Low Switching Cost Increases The Competition Among Rivalries
3.5.1 Growth Of The Construction And Automotive Industries
3.5.2 Increased Manufacturing Of Polyurethane Foams
3.5.3 Improvement In Energy Efficiency Of Foam Blowing Agents
3.5.4 Transforms The Nature And Properties Of Polymer Foams
3.5.5 Development Of Low Global Warming Potential (Gwp) And Zero/Low Ozone Depletion Potential (Odp) Foam Blowing Agent
3.6.1 Increased Environmental Regulations Against Harmful Foam Blowing Agents
3.7.1 Investment In The Development Of Natural Foam Blowing Agents
3.7.2 Introduction Of Eco-Friendly And Low Priced Foam Blowing Agents
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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