Foam Blowing Agents Market Size Forecast to Reach $1.04 Billion by 2025

October 12, 2020

Foam Blowing Agents Market size is forecast to reach $1.04 billion by 2025, after growing at a CAGR of 5.59% during 2020-2025. Asia-Pacific developing countries are witnessing the migration to urban areas of people from rural areas. In the near future, this is expected to improve construction activities in urban areas. Since the demand for isolating materials and therefore for foam blowing agents in urban areas is typically more intense than in countryside, the market is probably on the rise in next few years. Due to its high insulation value, foamed plastic isolation is often used in construction applications.

Key Takeaways
  • The demand for foam blowing agents is expected to show substantial growth because of the competitive advantages of foam blowing agents, such as improved performance, eco-friendly and improved insulation.
  • Recent advances in technology in foam blowing agents have led to an increase in the market growth. For instance, Opteon 1100 foaming agent and BASF SPRAYTITE ® foam insulation have been introduced to provide home-owners with excellent thermal insulation efficiency and minimize power usage, environment footprint and emissions. In addition, they are also responsible for reducing emissions from greenhouse gasses.
  • In order to boost the attractive foam properties, foam blowing agents find applications in the manufacture of polymer foam. As a result of its use in building and appliances, the market for polymeric foam is growing.
  • However, the end use industries are being significantly affected due to the COVID-19 pandemic, as most of the countries have issued “stay at home guidance” i.e., lockdown.

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Geography – Segment Analysis
 APAC dominated the Foam Blowing Agents Market share with more than 45.26%, followed by North America and Europe. In terms of both value and volume, Asia Pacific is a popular producer of foam blowing agents. The rising market of the polyurethane foam manufacturing sector in China is projected to be a major user of foam blowing agents in the near future. Large population, rapid urbanization in key countries like China, India and Japan .
Drivers – Foam Blowing Agents Market
  • Growing demand for polyurethane foam due to growth in the construction industry
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Foam Blowing Agents Market.  Major players in the Foam Blowing Agents Market are Arkema S.A., Honeywell International Inc., Exxon Mobil Corporation, E.I. du Pont de Nemours & Company, Haltermann GmbH, Harp International Ltd., Daikin Industries, Ltd., Sinochem Group, Solvay S.A., and ZEON Corporation, among others.
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