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Foam Blowing Agents Market Size Growing at 4.50% CAGR through 2027 | Exclusive Report by IMARC Group
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What is the projected growth rate for foam blowing agents market?
The global foam blowing agents market reached a value of US$ 1.33 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1.75 Billion by 2027, exhibiting a growth rate (CAGR) of 4.50% during 2022-2027.
What is foam blowing agents?
Foam blowing agents can produce a cellular structure in a wide range of materials that undergo hardening or phase transition, such as polymers, plastics, metals, etc., via a foaming process. They comprise of ammonium bicarbonate (NH4HCO3), sodium borohydride (NaBH4), and sodium bicarbonate (NaHCO3), hydro-chlorofluorocarbons (HCFCs), hydrocarbons, liquid carbon dioxide (CO2), etc. Foam blowing agents assist in reducing density, increasing thermal and acoustic insulation, enhancing the relative stiffness of the original polymer, etc. They also possess low thermal conductivity. Consequently, foam blowing agents find extensive applications in various end-use industries, such as automobile, electrical, construction, packaging, etc.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major drivers for the foam blowing agents market?
The widespread product adoption in methyl formate, hydrofluoroolefin (HFO), methylal, etc., is primarily driving the foam blowing agents market. Additionally, the growing utilization of polymer foams in the manufacturing of furniture is further catalyzing the market growth. Besides this, the rising consumer awareness towards numerous benefits offered by foam blowing agents, such as low global warming potential (GWP), zero ozone depletion (OPD), non-toxicity, efficiency, high isolation characteristics, etc., is acting as another significant growth-inducing factor.
Moreover, the inflating need for foams to stabilize side hill projects, tier seating platform construction, build foundations, bridge abutments, and road construction is positively influencing the global market. Apart from this, they are used in the automotive industry, owing to their vibration dampening, sound-absorbing, and lightweight properties, which is anticipated to fuel the foam blowing agents market over the forecasted period.
What segments are covered in Foam Blowing Agents Market report?
The report has segmented the market on the basis of region, product type, foam type and application.
Breakup by Product Type:
• Hydrocarbons (HCs)
• Hydrochlorofluorocarbons (HCFCs)
• Hydrofluorocarbons (HFCs)
• Hydrofluoroolefin (HFO)
• Others
Breakup by Foam Type:
• Polyurethane Foam
• Polystyrene Foam
• Phenolic Foam
• Polypropylene Foam
• Polyethylene Foam
• Others
Breakup by Application:
• Building and Construction
• Automotive
• Bedding and Furniture
• Appliances
• Packaging
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Who are the key players in the global foam blowing agents market?
• Arkema S.A.
• DuPont de Nemours Inc.
• Exxon Mobil Corporation
• Foam Supplies Inc.
• Harp International Ltd.
• HCS Group GmbH
• Honeywell International Inc.
• Linde plc
• Marubeni Corporation
• Solvay S.A.
• The Chemours Company
• Zeon Corporation.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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