Industry/ Innovation/ Related News:
16Th March 2018- Huntsman Corporation announced the acquisition of spray foam manufacturer and distributors Demilec, for US$ 350 million. Demilec manufacture of polyurethane foam for residential and commercial applications has a market experience of over 30 years. Through this acquisition the Huntsman Corporation is expected to further add to their expertise in the foam blowing agent market and strengthen their geographical dominance.
4th January 2018- Icynene industries has made two additions to their product portfolio namely Icynene Classic Ultra and Icynene Classic Ultra Select. The new light density spray foam products has better cohesion abilities and can also be sprayed from 15 to 20 degree Celsius. This new innovation is anticipated to further add to their market portfolio and help to cater to a large customer base.
Foam Blowing Agents Market Overview:
Foam blowing agents are a substances that helps in production of a cellular structure through a process of foaming in variety of materials including metals, polymers and plastics. The cellular structure produced increases thermal and acoustic insulation by increasing the hardness of the original polymer. The major applications of foam blowing agents includes electrical & electronics, automobile, building & construction, and food packaging among others.
According to the analysis of MRFR, the major market forces and trends driving growth of the global Foam blowing agents Market includes growth of construction sector and the burgeoning growth in the automobile industry. Moreover, the growing government investments in the developing economies across the globe has propelled the construction activities especially in India and china which in turn is further expected to fuel the growth of the global foam blowing agents market during the assessed period. In addition, the growing development in the automotive and aerospace sector are other factors contributing to the market growth.
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The global foam blowing agent market is segmented on the basis of their product type, Chemistry, application and region. On the basis of the product type hydrofluorocarbons (HFCs) was the leading segment in 2016 and is expected to show the same trend during the forecast period. The growing use of HFC’s in refrigeration, building insulation, air conditioning and fire extinguishing among other is substantially contributing to the growth of this segment. On the basis of application, polyurethane foam is the leading segment. The advantages such as structural strength and insulation properties makes paves their way into many applications such as cushioning, insulation and automobile applications.
Foam blowing agents Market- Competitive Landscape:
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 are some of the prominent players at the forefront of competition in the global Foam blowing agents Market and are profiled in MRFR Analysis.
The global Foam Blowing Agents Market is segregated into chemistry, product type, and end-user industry. On the basis of 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.
The foam blowing agents market is segregated across five regions: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be a fastest growing market with an expanding CAGR during the forecast period. The rapid growth of the industries and urbanization is fuelling the growth of the foam blowing agents in the developing countries of Asia Pacific. Moreover, the favorable government regulation in the region has attracted many industry players to enter the lucrative market of Asia Pacific, which, in turn, is fuelling the market growth.
Furthermore, the presence of most populated countries has augmented the construction and automobile sector, which is further contributing to the market growth. China, India, and Japan are the largest consumers of foam blowing agents in this region. North America is a dominant region in the market for foam blowing agents. The developed end-user industries such as construction, transportation, and electronics among others are significantly driving the market growth. Moreover, growing renovation and construction of public and private infrastructure is further adding to the growth of the market in this region.
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· Foam blowing agents market manufacturers
· Traders and Distributors of Foam blowing agents market
· Production Process Industries
· Potential Investors
· Raw Material Suppliers