Blowing Agents Market: Industry Applications, Trend, Outlook and Opportunity Analysis, 2018-2026

Blowing Agents Market: Industry Applications, Trend,
Outlook and Opportunity Analysis, 2018-2026
Blowing agents are light in weight, heat insulation, and electrical induction chemical
substances that are used to generate the gas that is used in expanding of plastics, rubber, and
ceramics to create foam. The global blowing agents are expected to witness substantial
growth owing to increasing demand from end-use industries such as construction, packaging,
and automotive. The product is primarily used in the aforementioned end-use industries as
adhesives, exhibiting superior properties including improved acoustics, heat & electric
insulation, elasticity, and lightweight.
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Rising infrastructure development in Asia Pacific is expected to increase market
Blowing agents are widely used across a number of application in the construction industry
including acoustics, heat & electric insulation, and shock absorbers. Furthermore, rising
infrastructure development in Asia Pacific coupled with supportive government initiatives, in
emerging economies such as India, is fueling growth of the market. For instance, in 2016, the
Indian government announced plans to invest US$ 376.53 billion to improve the
infrastructure, roads, transport facility, and shipping over of the following three years.
Encouraging foreign direct investment (FDI) in the region is likely to propel the construction
industry in the region, which in turn is expected to increase demand for blowing agents in the
near future.
Robust automobile industry growth is expected to aid market growth over the forecast
Demand for blowing agent products by the automobile industry, is rapidly rising due to the
weight reduction property of the agents that are useful for acoustic application. As the
demand for products of the automobile industry is increasing, the demand for light is a major
factor fueling market growth. The global automobile industry produced over 90 million cars
and commercial vehicles in 2015, which is expected to increase significantly over the
following five years owing to strong indicators in Asia Pacific. These trends coupled with
rising efforts to improve fuel efficiency by reducing the overall weight of automobiles, is
expected to have a positive impact on growth.
Stringent regulations promoting the use of eco-friendly blowing agents
The market is segmented on the basis of product type into hydrochlorofluorocarbons
(HCFC), hydrofluorocarbons (HFC), and hydrocarbons. Hydrofluorocarbons accounted for
the largest share in the market, owing to its low ozone depletion potential. Furthermore,
stringent regulations barring the use of HCFC, in 2003 EPA issued baseline for production
and import of HCFC-22 and HCFC-142b. Moreover, the UK government made it mandatory
to recover and recycle the HCFC used in the refrigeration unit. Owing to its contribution
towards ozone depletion coupled with a potential phase out in the near future, HCFC is
expected to have a positive impact on eco-friendly blowing agents over the forecast period.
However, phasing out of HCFC results in high technology shifting costs, which is expected to
restrain market growth to a certain extent.
Due to low operating cost and global warming potential, the hydrocarbons segment is
expected to witness substantial growth over the forecast period. Thus increasing its use in
various end-use industries. However, abrupt changes in climate, global warming, and ozone
depletion are the primary environmental issue, so the global agreement such as Montreal and
Kyoto protocol which limits severely in the use of blowing agents.
Polyurethane foams dominate the market owing to its superior insulating and shock
absorbing properties
The market is segmented on the basis of foam type into polyurethane, polystyrene, phenolic,
and polyolefin. Polyurethane segment hold a dominant position in the market, owing to its
wide application scope in an array of industries such as automotive industry for
manufacturing seats, insulation, gaskets, seal, and bushing. Moreover, it is used in flooring in
the construction industry and also to seal boat hulls from water in the marine industry. This is
mainly attributed to its superior insulating and shock absorbent properties.
Rapid growth of the economy and population in the Asia Pacific region, has led to an
increase in urbanization and industrialization. The polyurethane foam is expected to witness
substantial demand in this region, due to a rise in the application scope in automobile and
construction industries. Furthermore, core application industries growing at a substantial pace
particularly in India, Indonesia, and Vietnam is expected to drive growth over the forecast
period. In addition, increasing foreign direct investment in the region primarily due to high
market potential, as well as low labor and land cost is likely to propel growth of the blowing
agents market, over the next few years.
The blowing agents market is expected to exhibit below average growth in North America
and Europe, owing to mature end-use industries in these regions. Furthermore, stringent
regulations by EPA in 2003, and by UK to limit the use, recovery, and reuse of HCFC.
Governing the use of blowing agents is expected further expected to hamper growth over the
following few years.
However, gradual recovery of the construction industry—one of the key end-use industries
for blowing agents—in both the regions, is expected to have a positive impact on market
Honeywell, Solvay, Arkema are key industry players in the blowing agents market.
Continuous research and development, technological advancement, and marketing strategies
help in attaining the highest market share in the global blowing agents market. Solstice
Liquid Blowing Agent, the latest product developed by Honeywell, is the least harmful to the
environment and possesses immense potential to replace HC, HFC, and HCFC, in the future.
Blowing agents industry is a consolidated market place with a large number of small
manufacturers present in the industry. This trend is primarily witnessed in Asia Pacific,
which is one of the major producers of blowing agents. Furthermore, the industry comprises
of leading players with global presence including DuPont, Arkema S.A., Honeywell
International Inc., Solvay S.A., Foam Supplies, Inc., AkzoNobel NV, Haltermann GmbH,
Linde AG, Americhem, and HARP International Ltd.
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Blowing Agents Market report categorizes global market by end user, geography and other such industry segments - Industry Applications, Trend, Outlook and Opportunity Analysis, 2016-2024