Foam blowing agents are used in various end-user industries such as building and construction, automobile, electronics, and food packaging among others. The growing demand from the developing regions are the major factors driving the global market of foam blowing agents. The growing demand from the automobile sector coupled with the increasing government investments in the infrastructural development is other factors contributing to the growth of the market. Among the various end-user industry automobile is the dominant segment and is expected to show the same trend during the forecast years.
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Market Segmentation:
The global foam blowing agents market is segregated into chemistry, product type, and end-user industry. On the basis of the chemistry, the global market is segmented into physical foam blowing agents and chemical foam blowing agents. Among the product type, the global foam blowing agents market is classified into hydrochlorofluorocarbons (HCFC), hydrofluorocarbons (HFC), hydro Carbons (HCS), hydrofluoroolefin (HFOS) and others. On the basis of the application, the global market is segmented into polyurethane foam (PU), polystyrene foam (PS), phenolic foam, polyolefin foam, and others.
Market Scenario:
The hydrofluorocarbons (HFCs) segment is the leading product type in the market and polyurethane is the leading application segment. The growing usage of polyurethane in a wide range of end-user industries such as automotive, building & construction, appliances, apparels, flooring, and furnishing among others is significantly contributing to the growth of the segment.
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Regional Analysis:
The global foam blowing agents market is spanned across five key regions: North America, Europe, Asia Pacific, the Middle East & Africa and Latin America, . Among these, Asia Pacific holds is the fastest growing market and is anticipated to continue to show the same trend during the forecast period. The developing end-user industries in the region such as automobile and building & construction are expected to boost the market growth. Moreover, shifting of the manufacturing base owing to the favorable government regulations in the Asia Pacific region, which has further propelled the market growth. The key countries contributing to the growth of the foam blowing agents market are India, China, and Japan. North America is another dominant region in the market foam blowing agents. The growing adoption rate of foam blowing agents along with the developed end-user industries is the substantially contributing to the growth of the market. The key countries attributing to this growth are U.S. and Canada. European market of foam blowing agents is mainly driven by the developed automobile and electronics industry. The growing application of foam blowing agents in the steering wheels, seats, door panels and others is augmenting the growth of the market in this region.
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Competitive Analysis:
Some of the prominent players operating in the global foam blowing agents market are Arkema S.A. (France), Honeywell International Inc. (U.S.), Exxon Mobil Corporation (U.S.), E.I. du Pont de Nemours & Company (U.S.), Haltermann GmbH (Germany), Harp International Ltd. (U.K.), Daikin Industries Ltd. (Japan), Sinochem Group (China), Solvay S.A. (Belgium), and ZEON Corporation (Japan) among others.
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