Blowing Agents Market Synopsis:

Blowing Agents Market Highlights: By Type (Exothermic, Endothermic), Product (Hydrochlorofluorocarbons, Hydrofluorocarbons, Hydrocarbons), Application (Rigid Polyurethane, Flexible Polyurethane, Polystyrene), and Region- Forecast Till 2023

The blowing agent is a chemical additive, which is widely used in the generation of gas to expand rubber, plastics, and ceramics, which results in the creation of foam. The use of blowing agent offers a range of advantages such as lightweight, heat insulation, sound & shock absorbency, elasticity, electrical insulation, permeability, and others.

Company Profile:

Some of the manufacturers operating in the global Blowing Agents Market are Solvay (Belgium), The Dow Chemical Company (U.S.), INEOS Group (Switzerland), DAIKIN INDUSTRIES, LTD. (Japan), Arkema (France), BASF SE (Germany), SINOCHEM GROUP (China), ZEON CORPORATION (Japan), Harp International Ltd. (U.K), Honeywell International Inc. (U.S.), Exxon Mobil Corporation (U.S.), AkzoNobel N.V. (Netherlands), and The Chemours Company (U.S.).

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The market players are focusing on strategic development by the adoption of mergers, acquisition, product launch, and others. For instance, in 2014, BASF announced its new formulation of Elastocool® rigid foams utilizing Honeywell’s Solsitice® Liquid Blowing Agent (LBA) is now being used by Whirlpool Corp. in a line of its consumer refrigerators.

The global blowing agents market is majorly driven by the growing demand from the major end-use industries such as automotive, aerospace, and building & construction. Blowing agents provide lightweight nature to the automotive, thereby increasing its efficiency and reducing the emission level. They also provide insulation and cushioning effects and are majorly used for manufacturing seats, plastic interiors, and weather strips.

Segmentation Analysis:

The global blowing agents market is segmented on the basis of the type, product, application, and region.

On the basis of the type, the global blowing agents market is segmented into exothermic and endothermic.

Based on the product, the global market is segmented into hydrochlorofluorocarbons, hydrofluorocarbons, hydrocarbons, and hydrofluoroolefins.

On the basis of the application, the market is segmented into rigid polyurethane, flexible polyurethane, integral skin polyurethane, polystyrene, polyolefin, phenolic, and others.

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Various environment protection regulations regarding the reduction of harmful emissions such as Bharat Stage Emission Standards (BSES) in India and the Chinese State Environmental Protection Administration (SEPA) are likely to fuel the product demand in the automotive sector. These agents are used in the aerospace industry to manufacture engine turbines as it saves raw material costs and improves quality. Moreover, the lightweight, an added advantage, is propelling their demand in the aerospace industry. The use of blowing agents in the construction sector due to its insulation properties, high mechanical strength, and ability to make thinner structures is expected to fuel the market growth further over the assessment period.

The product was the first commercial polyurethane system to use low global warming potential (GWP) hydroolefin foam blowing agent. Furthermore, in October 2017, the Chemours Company was announced as the winner of the Polyurethane Innovation Award at the Polyurethanes Technical Conference for its OpteonTM 1100 foam blowing agent, which is a low GWP agent that offers exceptional energy efficiency, extended shelf life, long-term R-values, material compatibility, and ease of conversion.

Regional Analysis:

The global blowing agents market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia Pacific dominated the global blowing agents market in 2016 owing to high demand for blowing agents from the automotive and construction industry. The increasing demand for lightweight automotive due to increasing environmental concerns is expected to drive the market growth in the region.

Europe accounted for the second largest market share in the year 2016 on account of the high production and sales of automotive parts in Western European countries.

North America is expected to witness a considerable growth on account of the high demand from the reviving construction, automotive, and aerospace industry.

Latin America is projected to witness a considerable growth due to growing automotive industry in Mexico, Brazil, and others.

The Middle East & Africa is likely to witness significant growth due to the burgeoning infrastructural investments in the GCC countries.

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