Foam Blowing Agents Market for Polyurethane, Polystyrene Foams - Global Industry Analysis 2020

Foam blowing agents are essential ingredients that are added to substrates to impart the characteristic cellular matrix structure of foam to the material. The advantages of foaming of a polymeric material include less material usage, thermal and acoustic insulation, and reduction of weight of the final product. Major foam blowing agents include hydrocarbons such as n-pentane, cyclopentane, isopentane, n-butane and isobutene; Hydrofluorocarbons (HFC) including HFC-134fa, HFC-32, HFC-365mfc, HFC-227ea; Hydrochlorofluorocarbons (HCFC) such as HCFC-22, HCFC-141a and HCFC-141b; azodicarbonamide, hydrazine, CO2, water and inert gases. Major applications of these foam blowing agents include polyurethane (PU) foams, polystyrene (PS) foams, polyolefin foams and others including polyvinyl chloride (PVC) foams, and phenolic, foams etc.

This report provides a detailed description of the global foam blowing agents market based on volume share (Kilo Tons) and revenue (US$ Mn) for the period of 2014 to 2020. It highlights the factors contributing to the growth of the market and the restraints that impede the market. Detailed forecast for foam blowing agents from 2014 to 2020 has been given separately for better understanding of the market scenario. The foam blowing agents market is described with respect to various segments along with the expected opportunities in the next six years.

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Rising demand for foams in key end-user industries such as automotive and construction is projected to boost the global market for foam blowing agents as they are essentially utilized in the manufacture of foams. PU foams application is anticipated to be the major driver of the foam blowing agents market due to rapid increase in the demand for these foams for insulation and structural applications.

The global foam blowing agents market is anticipated to be driven by rising demand from the end-user applications of foams in the construction industry. Increasing demand for foam blowing agents for the manufacture of PU foams is expected to further fuel the market for foam blowing agents. However, volatility in prices of feedstock for petroleum-based foam blowing agents, and regulations against chemicals that harm the environment are likely to hamper market growth in the next few years. Development of new eco-friendly foam blowing agents such as hydrofluoroolefins (HFO) is anticipated to provide market growth opportunities in the near future.

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The foam blowing agents market can be segregated based on the type of products into hydrocarbons (HC), Hydrofluorocarbons (HFC), Hydrochlorofluorocarbons (HCFC) and others (including azodicarbonamide, hydrazine, CO2, water, etc.). Hydrocarbon (HC) foam blowing agents is expected to be the largest as well as the fastest growing segment during the forecast period. HFCs emerged as another key segment in 2013, due to high demand as a substitute to HCFCs in developed countries across the world. HCFCs are being phased-out due to their ozone depleting and global warming potential. These are being substituted mostly by hydrocarbons in developing countries and HFCs in developed nations.

The global foam blowing agents market is consolidated and dominated by a few players with global operations. Key players include Exxon Mobil Corporation, E. I. du Pont de Nemours and Company, Solvay S.A., Arkema S.A., Honeywell International Inc. Daikin Industries Ltd., Haltermann GmBH, ZEON Corporation, AkzoNobel N.V. and Sinochem Group.

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