Eco-Friendly Foam Blowing Agents Production Increase to Increase Sales 6% CAGR through 2031

Polyurethane will control over 60% of sales in the foam blowing agent market

The latest report by Fact.MR on the Foam Blowing Agents Market presents an in-depth study of the drivers, latest trends and restraints affecting the growth of the market till 2031. It also identifies the major segments in terms of product type , application and end-use industry.

NEW YORK, November 16, 2021 / PRNewswire / – According to the latest Fact.MR analysis, the Global Foam Blowing Agents Market Expected To Surpass US $ 1 billion in 2021. With the growing popularity of eco-friendly and energy-efficient foam blowing agents, the overall market is expected to grow at 6% CAGR between 2021 and 2031, reaching a valuation of about US $ 1.8 billion by 2031.

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The increasing adoption of foam blowing agents in various industries such as electrical and electronics, automotive and building and construction will drive sales in the global market.

Foam blowing agents produce cellular structure through the foaming process and improve thermal and acoustic insulation and flexibility of end products. They are increasingly used to enhance and improve certain properties of polymers.

In recent years, sales of hydrocarbon (HC) blowing agents such as isopentane, cyclopentane, n-butane and other environmentally friendly blowing agents have increased. Market sales will continue to increase due to the ozone depletion potential (ODP) and low global warming potential (GWP) of foam blowing agents.

The implementation of strict regulations t to reduce emissions of ozone-depleting gases such as chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HFCs) supports the adoption of these environmentally friendly products.

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With the expansion of construction, automotive, electrical and electronics industries, the scope of application of foam blowing agents will improve during the forecast period.

In terms of application, polyurethane foam blowing agents will continue to dominate the global market, accounting for around 60% of sales by 2031. This is due to the growing popularity of polyurethane foam materials due to their environmentally friendly nature. and their excellent insulating properties.

At the regional level, Asia will become the most lucrative market for foam blowing agents. Sales in the region will be driven by growing demand in the construction and electrical and electronics sectors.

“Market players are expanding their portfolio to include a range of environmentally friendly and non-ozone depleting foam blowing agents. Their focus on changing needs in various industries will drive the growth of the Foam Blowing Agents market., “ says Fact.MR analyst

Key Points From Foam Blowing Agents Market Research

  • Asia The foam blowing agent market will account for around 45% of the global share by 2031.

  • Driven by the growing demand for environmentally friendly blowing agents, North America is expected to represent around 25% of the market share.

  • Foam Blowing Agents Market in China, Japan and India is expected to experience strong growth due to rapid urbanization and increasing insulation applications.

  • The category of polyurethane foam blowing agents should be approximately 3/5e market share over the forecast period.

  • By end-use industry, the electrical and electronics segment will account for 40% of revenue by 2031.

Key factors

  • The increasing demand for foamed polymers in the construction and automotive industries is creating a demand for foam blowing agents.

  • The growing popularity of environmentally friendly and energy efficient foam blowing agents is expected to create lucrative growth opportunities for the market.

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Competitive landscape

Leading manufacturers are focused on the development of environmentally friendly and energy efficient blowing agents. They employ strategies such as mergers, partnerships and collaborations to expand their global footprint.

  • In November 2021, Chemours, a global chemicals company, has announced a new production line dedicated to expanding its low global warming potential (GWP) hydrofluoroolefin (HFO) platform that does not deplete the layer of oil. ‘ozone – Opteon ™ 1150, chemically called HFO-1336mzzE.

  • In October 2021, Honeywell announced that the global adoption of its Solstice® low global warming potential (GWP) refrigerants, blowing agents and aerosols avoided the potential release of the equivalent of more than 250 million metric tonnes of carbon dioxide into the atmosphere, which is equivalent to eliminating the potential emissions of more than 52 million cars per year .

Some of the major players operating in the Foam Blowing Agents market presented by Fact.MR are:

  • Arkema SA

  • EI DuPont’s Nemours (DuPont)

  • Foam Supplies, Inc.

  • Guangzhou Jiangyan Chemical Co., Ltd

  • HCS GmbH Group

  • Honeywell International Inc.

  • Linde Group

  • Marubéni Company

  • Solvay SA

  • The Chemours Company

  • Others

Find out more about the global foam blowing agents sales outlook

Fact.MR provides an unbiased analysis of the Foam Blowing Agents market, presenting historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study reveals compelling information on the global demand for foam blowing agents with detailed segmentation on the basis of:

type of product

  • HC foam blowing agents

  • Blowing agents for HFC and HCFC foam

  • Blends of foam blowing agents

  • HFO foam blowing agents

  • Methylal and methyl formate

  • Others (liquid CO2 and water)

Application

  • Polyurethane foam blowing agents

  • Polystyrene foam blowing agents

  • Blowing agents for phenolic foam

  • Others (PVC foams, polyisocyanurate foams)

End use industry

  • Building and construction

  • Electricity and electronics

  • Furniture and Bedding

  • Automotive

  • Shoe

  • Others (Textile, Medical, etc.)

Key Questions Answered in the Foam Blowing Agents Market Outlook Report

  • The report provides an overview of the demand outlook for foam blowing agents for 2021-2031

  • The market study also highlights the forecasted sales growth for the Foam Expanding Agents market between 2021 and 2031.

  • The Foam Blowing Agents market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancement in the market. within the industry

  • Analysis of the Foam Blowing Agents market share of key companies in the industry and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships etc.

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Low GWP Refrigerant Market Overview– Despite growing evidence of the negative impact of hydrofluorocarbons (HFCs) on the environment, their penetration remains high. Due to the environmental impact of HFCs, regulations for their use have become more stringent over time. These reasons, according to Fact.MR, are expected to boost the market for low GWP refrigerants in the near future. Major countries are adopting regulations to mitigate the negative environmental effects of ozone-depleting refrigerants and to encourage end-users to use low-GWP refrigerants.

Hydrocarbon Solvents Market Study– The COVID-19 epidemic caused a decline in the hydrocarbon solvent market in 2020. Governments in many countries have imposed lockdowns, halting production and causing force majeure at various companies. This accelerated the process of obtaining hydrocarbon solvents. However, due to the ease with which production facilities can be closed and reopened, the hydrocarbon solvent market is expected to grow at a moderate pace over the projection period. The increasing use of hydrocarbon solvents in a variety of industries, from inks to pharmaceuticals, is expected to drive global demand.

Expanded Polypropylene Foam Market ReportThe global expanded polypropylene (EPP) foam market will be propelled by its penetration into several end-use sectors including packaging, consumer products and furniture. The rapid development of the production of vehicles and consumer goods requires an increase in demand for expanded polypropylene foam products. Expanded Polypropylene (EPP) foam is an excellent material for a range of applications due to its environmentally friendly nature and high performance. With increased investment in industrial industries in major economies, the demand for EPP foam is likely to grow even more.

About Fact.MR

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