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Foam Blowing Agents Market Share, Applications, Market Scenario Analysis, Trends, Drivers, Region Analysis and Forecast: 2020-2030
Foam Blowing Agents Market
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Rise in population and increase in average disposable income drive the development of the construction industry in developing countries, which in turn, has propelled the global foam blowing agents market. On the other hand, several pollution control measures introduced by governments in different regions impede the growth to some extent. However, developments of the furniture industry has paved the way for a number of opportunities in the industry.
Based on region, the market across Asia-Pacific held the major share in 2020, garnering nearly half of the global market. The same region would also manifest the fastest CAGR of 5.3% throughout the forecast period. The other provinces studied in the report include North America, Europe, and LAMEA.
Based on applications, the polyurethane segment contributed to nearly half of the total market revenue in 2020, and is projected to lead the trail by 2030. The polyurethane segment, moreover, would exhibit the CAGR of 45.9% during the forecast period. The other segments studied in the report include polystyrene and polyolefins.
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Based on product type, the hydrocarbons segment contributed to more than two-fifths of the total market revenue each in 2020, and is projected to lead the trail by 2030. The hydrochlorofluorocarbons segment, on the other hand, would exhibit the fastest CAGR of 6.62% during the forecast period.
Covid-19 Scenario-
• The strict government regulations toward the shutdown of transportation sector have led to increase in difficulty in the procurement of the raw materials, which impacted the global foam blowing agents market negatively.
• Scarcity of skilled labor force at the manufacturing sites aggravated the market condition even more.
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Applications
- Polyurethane
- Polystyrene
- Polyolefins
- Others
The key market players analyzed in the global foam blowing agents market report include Honeywell International Inc. (U.S.), Exxon Mobil Corporation (U.S.), Harp International Ltd. (U.K.), E.I. du Pont de Nemours & Company (U.S.), ZEON Corporation (Japan), Arkema S.A. (France), Haltermann GmbH (Germany), Solvay S.A. (Germany), Daikin Industries, Ltd. (Japan), and Sinochem Group (China). These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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