Foam Blowing Agents Market to see 7% CAGR till 2024 | Sinochem, AkzoNobel, ZEON Corporation, Haltermann, Daikin Industries, Honeywell, Arkema, Solvay

A blowing agent is a substance which is capable of producing a cellular structure in a range of different materials that involve phase transition or hardening, including polymers and plastics, among others, via foaming process. One of the major reasons for increasing foam blowing agents market penetration is the capability of the product to enhance the strength and other existing properties of polymeric foams. Proliferating infrastructural development in APAC region will drive foam blowing agents market growth.

The APAC region is rapidly emerging as one of the foremost growth engines in the global economic landscape. Emerging nations such as India, China, and other prominent Southeast Asian regions possess broad customer markets and low-cost labor force, and also have an abundant supply of natural resources at their disposal. However, in order for these nations to truly achieve their optimum growth premium, there is a need for substantial incremental progress, in terms of communication networks and transportation and other infrastructures.

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Materials such as polymeric foams, especially are gaining considerable traction in recent years, as integral components in myriad households and industrial applications. In order for polymeric foams to exhibit their optimum performance, however, efficient insulation is paramount. One of the best ways to ensure ideal foam insulation is through the use of foam blowing agents.

Economies such as Thailand, Vietnam, India and South Korea, among others are undertaking prolific efforts in order to boost their infrastructural development. For instance, the Singapore-Kunming Rail Link (SKRL) is a pan-Asian project proposed under the BRI (Belt and Road Initiative) in China, for the development of a high-speed railway network that is designed to connect various countries such as Laos, Thailand, Republic of China, Cambodia, Singapore, Malaysia, Vietnam and Myanmar. The railway network, which is projected to span across 6,617.5kms, is funded by the AMBDC (ASEAN-Mekong Basin Development Cooperation) and was proposed in a bid to encourage better cross-border transportation and economic integration between the ASEAN countries.

This consistent growth in the infrastructural landscape in the APAC region is likely to boost the demand for polymeric foams designed for construction applications, which will in turn add impetus to the foam blowing agents market expansion in the region. Furthermore, the consumption of these foam insulation materials will witness a significant rise in the years ahead, as rapid industrialization and technological progress triggers the emergence on novel advancements in automotive, medical devices, and packaging, among other industries.

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