Foam Blowing Agents Market Trends, Size, Share, Opportunities, Regional Outlook, Industry Demand Forecast By 2030 | Arkema S.A., Exxon Mobil Corporation

The Foam Blowing Agents Market is estimated for 2023-2030 for the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Foam blowing agents are chemical compounds that are used to create a cellular structure within polymers during foam production. These agents develop bubbles within the polymer and help in reducing the overall density and weight of the material. Foam blowing agents find applications in industries such as construction, packaging, and automotive.

Market Dynamics:

The global foam blowing agents market is expected to witness significant growth over the forecast period, owing to rising demand for energy efficient buildings. Energy efficiency in buildings has become a major area of focus in reducing carbon emissions globally. Insulating buildings help reduce energy consumption required for heating and cooling. Foam blowing agents are key ingredients in producing insulation materials such as polyurethane and polystyrene foams used commonly in construction industry. These insulation materials provide high insulation and reduce the loss of indoor temperature. Moreover, growing construction activities in emerging economies along with stringent regulations regarding energy efficiency in buildings will further propel the demand for foam blowing agents during the forecast period.

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Top Key Players are Covered in this Report:

★ Arkema S.A.
★ Exxon Mobil Corporation
★ Daikin Industries Ltd.
★ ZEON Corporation
★ Honeywell International Inc.
★ Haltermann GmbH
★ Harp International Ltd.
★ Sinochem Group
★ E.I. du Pont de Nemours & Company
★ Solvay S.A.

Detailed Segmentation

By Product Type:

★ Hydrofluorocarbons (HFCs)
★ Hydrochlorofluorocarbons (HCFCs)
★ Hydrocarbons (HCs)
★ Others

By Application:

★ Polyurethane Foam
★ Polyolefin Foam
★ Polystyrene Foam
★ Phenolic Foam
★ Others

Segmentation by Region

The global Foam Blowing Agents market has five main regional segments, divided by geographic region. These regions are North America, Europe, Asia Pacific, Middle East-Africa, and Latin America.

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Foam Blowing Agents Market Driver - Demand from Construction Industry Growth is Fueling the Market:

The global construction industry has witnessed significant growth over the past few years and is expected to grow further during the forecast period. Rising population and rapid urbanization are increasing the demand for residential and commercial buildings across the globe. Foam blowing agents are widely used for manufacturing insulation material for buildings, which helps provide thermal insulation and energy savings. The growth of the construction sector is directly proportional to the demand for insulation material and foam blowing agents. Development of green buildings and implementation of stringent energy efficiency regulations in many countries are also propelling the use of insulation in construction.

Foam Blowing Agents Market Driver - Rising Demand for Polyurethane Foam from Automotive and Packaging Industries:

Polyurethane foam finds extensive application in the automotive, packaging, furniture, and bedding industries owing to its excellent properties such as lightweight, durability, chemical resistance, and cushioning effect. In the automotive industry, PU foam is primarily used for seating, headrests, dashboards, instrument panels, and door panels. It helps reduce the overall weight of vehicles and improves fuel efficiency. The global automotive production has increased significantly in recent years and is expected to grow further with rising vehicle demand from emerging economies. Similarly, the packaging industry has witnessed steady growth over the years to support the expanding e-commerce sector. PU foam provides effective cushioning and insulating properties for packaging of various goods. Hence, the demand from these major end-use industries is fueling the growth of the global foam blowing agents market.

Foam Blowing Agents Market Restrain - Stringent Regulations Regarding Use of HFC and HCFC Blowing Agents:

Historically, HCFC (hydrochlorofluorocarbon) and HFC (hydrofluorocarbon) blowing agents were widely used for foam production owing to their efficiency and cost-effectiveness. However, both HCFCs and HFCs have high global warming potential (GWP) and contribute to ozone layer depletion. In 1987, the Montreal Protocol was adopted to phase out the production and use of ozone-depleting substances (ODS) including HCFCs. Later in 2016, the Kigali Amendment to the Montreal Protocol set schedules for phasing down the production and consumption of HFCs. Various countries and regions including Europe, USA, Canada, Australia, and India have also enforced regulations to curb the use of HFC blowing agents. The manufacturers are exploring low-GWP alternative technologies to replace HCFCs/HFCs and comply with the stringent norms. These regulations pose a challenge for the growth of the overall foam blowing agents market in the long run.

Foam Blowing Agents Market Opportunity - Growing Demand for Energy-Efficient Insulation:

With rising environmental concerns and implementation of energy conservation building codes (ECBC) globally, the focus on energy efficiency in buildings has increased substantially in recent years. Insulation plays a crucial role in enhancing the energy performance of buildings by reducing heat transfer. The adoption of advanced insulation techniques helps lower energy costs significantly by minimizing heating & cooling requirements. Polyurethane insulation made using blowing agents provides high thermal resistance and air tightness. It can help reduce energy consumption by around 30% compared to traditional insulation materials. Governments and organizations are promoting the benefits of well-insulated buildings and offering subsidies. This growing demand for energy-efficient insulation from the construction sector presents lucrative opportunities for manufacturers of foam blowing agents.

Foam Blowing Agents Market Trends - Shift Towards Environmentally-Friendly Hydrofluoroolefin (HFO) Blowing Agents:

Stringent environmental regulations have compelled manufacturers to shift from HCFC and HFC blowing agents to more eco-friendly alternatives. Hydrofluoroolefins or HFOs have emerged as one of the most viable green replacements with very low GWP levels. HFO blowing agents such as HFO-1234ze and HFO-1234yf are gaining rapid acceptance in the market owing to their negligible ozone depletion and global warming potential of less than 1. Their thermophysical properties also enable production of high-quality foam with improved strength and insulation capabilities. Major foam blowing agent producers are actively researching and developing HFO technologies. The transition towards HFOs is expected to shape the future trends in the global market.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Foam Blowing Agents market?
✦ What current trends will influence the market over the next few years?
✦ What are the market's opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Foam Blowing Agents market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Foam Blowing Agents Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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This release was published on openPR.