Blowing Agents Market Surge in Demand from Healthcare Industry to Boost Growth Forecast to 2026

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.

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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.

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.

Globle Key Players:

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.

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