Foam Blowing Agents Market to Gain Value of US$ 2.9 Bn by 2031: TMR Study

• The global Foam Blowing Agents Market is projected to expand at a CAGR of 5.7% during 2022-2031
• The application of foam blowing agents in manifold industry verticals is driving the growth prospects in the market
• Rapid urbanization and increase in the infrastructure developments in Asia Pacific is fueling the regional market growth

WILMINGTON, Del., Nov. 3, 2022 /PRNewswire/ -- According to a research report by Transparency Market Research (TMR), the global Foam Blowing Agents Market is estimated to reach a value of US$ 2.9 Bn by the end of 2031. This suggests that the market for foam blowing agents is projected to develop at a CAGR of 5.7% during the forecast period, from 2022 to 2031.

The market in Asia Pacific is expected to expand at significant pace during the forecast period owing to rise in the product use in emerging economies of the region, notes a TMR review that sheds light on the Foam Blowing Agents Market growth factors. Moreover, the Asia Pacific market is projected to gain sizable growth prospects in the near future owing to factors such as increase in the number of large-scale infrastructure development products, rapid urbanization, improving spending power of regional people, and increased sales of consumer goods including bedding products, footwear, and refrigerators in the region.

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Foam Blowing Agents Market: Key Findings

• Foam blowing agents are being increasingly utilized in varied consumer appliance applications including air conditioners, water heaters, and refrigerators owing to their exceptional shock-absorbing properties. Hence, rise in the sales of these products is expected to create prominent demand prospects in the global market during the forecast period, note analysts of a TMR review.
• The adoption of refrigeration is being increasing in the recent years across varied industries including the medical & pharmaceutical, food & beverages, plastics, mechanical, and chemical industry. Moreover, there has been a surge in the use of refrigerants for varied scientific experiments, state analysts at TMR. These factors are expected to drive the growth prospects in the market during the forecast period, according to a TMR review that covers in-depth analysis of Foam Blowing Agents Market trends.
• The popularity of foam blowing agents is being rising in the recent years owing to their favorable properties, specifically for applications in the industries such as the construction and automotive industry. This aside, the use of foam blowing agents is being rising in the production of textile, electronics, and footwear. These factors are projected to help in the expansion of the Foam Blowing Agents Market size during the forecast period.

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Foam Blowing Agents Market: Growth Boosters

• Surge in the use of foam blowing agents in consumer appliance applications is a key factor fueling the global market
• Increase in the product demand in refrigerant applications owing to their excellent shock-absorbing properties is estimated to help in the growth of the Foam Blowing Agents Market share
• Rise in the demand for energy-efficient insulation materials in varied building and construction activities is fueling the sales of foam blowing agents
• Increasing adoption of rigid, flexible, and temperature-resistant polyurethane foams is propelling the market

Foam Blowing Agents Market: Competition Landscape

• Players in the global market for foam blowing agents are using strategies including mergers and acquisitions in order to expand their businesses in newer regions
• Major enterprises in the global Foam Blowing Agents Market are focusing on product innovations in order to develop technologically advanced products

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Foam Blowing Agents Market: Key Players

Some of the key players profiled in the report are:

• Arkema S.A.
• Honeywell International Inc.
• Linde Group
• E.I DuPont de Nemours (DuPont)
• Solvay S.A.
• The Chemours Company
• HCS Group GmbH
• Foam Supplies, Inc.
• Guangzhou Jiangyan Chemical Co., Ltd.
• Marubeni Corporation

Foam Blowing Agents Market Segmentation

Product Type

• HC
• HFC & HCFC
• Blends
• HFO
• Methylal and Methyl Formate
• Others (Liquid CO2 and Water)

Application

• Polyurethane Foams
• Polystyrene Foams
• Phenolic Foams
• Others (PVC Foams, Polyisocyanurate Foams, etc.)

End-use

• Building and Construction
• Electrical and Electronics
• Furniture and Bedding
• Automotive
• Footwear
• Others (Textiles, Medical, etc.)

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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SOURCE Transparency Market Research