Foam blowing agents Market Trends

Global Foam-blowing Agents Market Overview

Foam-blowing agents Market Size was valued at USD 1.3 Billion in 2022 and is projected to grow from USD 1.5 Billion in 2023 to USD 1.9 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2030). The usage of polymer foam in the industrial sectors like construction and automotive are the key market drivers enhancing market growth.

   Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Foam-blowing agents Market Trends

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  Growing usage of polymer foam in the construction sector to boost market growth

  
  

The usage of polymer foam in the construction sector is one of the factors driving the Foam-blowing Agents Market. Foam-blowing agents are chemicals used to produce foam materials such as insulation, packaging, and cushioning.  Polymer foam insulation materials, which are made using Foam-blowing agents, are widely used in construction to improve energy efficiency by reducing heat transfer. As the demand for energy-efficient buildings continues to grow, the demand for Foam-blowing agents is also increasing.

The construction sector is one of the largest end-use markets for foam-blowing agents. As demand for energy-efficient buildings grows, the use of polymer foam insulation is likely to increase, which in turn can drive the growth of the foam-blowing agents market. In addition, the use of polymer foam insulation is expanding beyond traditional construction applications. For example, it is being used in industrial insulation, cold storage, and refrigeration, among other applications.  Overall, the increased use of polymer foam in the construction sector can contribute to the growth of the Foam Blowing Agents Market, but it is just one of the factors driving the market. Other factors such as technological advancements, government regulations, and demand for lightweight materials are also important drivers of the market. Therefore, such factors related to Foam-blowing agents have enhanced the Foam-blowing agents market CAGR across the globe in recent years.

Foam-blowing agents Market Segment Insights

Foam-blowing agents Type Insights

The Foam-blowing agents Market segmentation, based on type, includes HCFC, HFC, HCS, HFOS, Others. The HCS segment held the majority share in 2022 of the Foam-blowing agents Market revenue. HFCs are commonly used as foam-blowing agents due to their low ozone depletion potential and relatively low global warming potential compared to other blowing agents such as hydrochlorofluorocarbons (HCFCs) and chlorofluorocarbons (CFCs).

Foam-blowing agents Application Insights

Based on application, the Foam-blowing agents Market segmentation includes polyurethane, polyolefin, polystyrene, phenolic, and others. The polyurethane segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. Polyurethane foam is widely used in insulation, packaging, and cushioning applications. Polyurethane foam blowing agents can be either physical or chemical blowing agents, depending on the manufacturing process.  These all factors for Foam-blowing agents positively impact market growth.

Figure 2: Foam-blowing agents Market, by Application, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Foam-blowing agents Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific was one of the largest markets for foam-blowing agents and was expected to continue to grow in the future. The growth of the market in this region is driven by factors such as increasing industrialization, urbanization, and construction activities in emerging economies such as China and India. The region's growing demand for insulation materials and refrigeration equipment, along with increasing awareness of energy efficiency and environmental regulations, is also contributing to the growth of the foam-blowing agents market in Asia-Pacific

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil

Figure 3: FOAM-BLOWING AGENTS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review 

Europe’s Foam-blowing agents market accounts for the third-largest market share. The increasing demand for insulation materials and energy-efficient buildings in the region. There is also a growing awareness of environmental issues and energy efficiency, which is driving the use of foam-blowing agents in various applications. Additionally, Europe has some of the strictest environmental regulations in the world, which have led to a shift towards more environmentally friendly foam-blowing agents. As a result, there has been an increased demand for natural blowing agents such as carbon dioxide and water, as well as for low-GWP (global warming potential) foam-blowing agents. Further, the Germany Foam-blowing agents market held the largest market share, and the UK Foam-blowing agents market was the fastest-growing market in the European region.

North America dominates the blow molding agent market. The growth of the market in the region is driven by factors such as increasing demand for insulation materials and refrigeration equipment, along with growing awareness of energy efficiency and environmental regulations. Additionally, the presence of major foam-blowing agent manufacturers in the region, as well as a strong focus on research and development, are contributing to the growth of the market. Moreover, the U.S. Foam-blowing agents market held the largest market share, and the Canada Foam-blowing agents market was the fastest-growing market in the North American region.

Foam-blowing agents Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Foam-blowing agents market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Foam-blowing agents industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Foam-blowing. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Foam-blowing agents industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Foam-blowing agents industry to benefit customers and expand the market sector. Major Foam-blowing agents market players, including Arkema S.A., Honeywell International Inc., Exxon Mobil Corporation, E.I. du Pont de Nemours & Company, Haltermann GmbH, Harp International Ltd., Daikin Industries Ltd., Sinochem Group, The Chemours Company, and ZEON Corporation, and others, are attempting to increase market demand by funding R&D initiatives.

Arkema S.A. is a global specialty chemicals company headquartered in Colombes, France. It operates in three business segments: High-Performance Materials, Industrial Specialties, and Coating Solutions. The High-Performance Materials segment produces materials such as resins, adhesives, and polymers used in transportation, oil and gas, renewable energy, and other industries. This segment also produces specialty polymers for electrical and electronics, consumer goods, and other markets. The Industrial Specialties segment produces a wide range of specialty chemicals, including biochemicals, fluorochemicals, and hydrogen peroxide. These products are used in a variety of applications, such as pharmaceuticals, agrochemicals, water treatment, and more. The Coating Solutions segment produces a variety of coating materials, including resins and additives used in coatings for transportation, architecture, and other applications. It also produces acrylic monomers used in various applications, such as automotive and construction.

Honeywell International Inc. is a multinational conglomerate company with its headquarters located in Charlotte, North Carolina, United States. The company operates in four major segments: Aerospace, Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Performance Materials and Technologies segment offers advanced materials, process technologies, and automation solutions to customers in industries such as petrochemicals, refining, and renewable energy. This segment also offers products and services for other industries, such as automotive, aerospace, and electronics. The Safety and Productivity Solutions segment provides personal protective equipment, gas detection technology, and productivity solutions for industrial and commercial customers. This segment also offers connected solutions for supply chain and logistics management. Honeywell operates globally with manufacturing facilities in over 70 countries and serves customers in more than 150 countries.

Key Companies in the Foam-blowing agents market includes

• Arkema S.A.


• Honeywell International Inc.


• Exxon Mobil Corporation


• I. du Pont de Nemours & Company


• Haltermann GmbH


• Harp International Ltd.


• Daikin Industries Ltd.


• Sinochem Group


• The Chemours Company


• ZEON Corporation among others

Foam-blowing agents Industry Developments

November 2021: The Chemours Company announced their latest invention in the production line and named it Opteon 1150, which is considered the non-ozone depleting and sustainable product in the industry developed utilizing HFO technology.

October 2021: Honeywell announced that it has developed a novel technology called Solstice HFO technology which efficiently reduces the carbon footprint and improves energy efficiency as well while maintaining the end-product performance. 

Foam-blowing agents Market Segmentation

Foam-blowing agents Type Outlook

• HCFC


• HFC


• HCS


• HFOS


• Others

Foam-blowing agents Application Outlook

• Polyurethane


• Polyolefin & Polystyrene


• Phenolic


• Others

Foam-blowing agents Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America