The global blowing agents market study is a comprehensive market research on blowing agent sales worldwide. The report presents market analysis across blowing agent types including HC (HydroCarbons), HFC (HydroFluoroCarbons), HCFC (HydroChloroFluoroCarbons), and Others. In addition, the blowing agent market size is forecast from 2021 to 2030 across diverse foam types including Polyurethane Foam, Polystyrene Foam, Phenolic Foam, and Polyolefin Foam. Key end-user industry verticals of blowing agents including construction, automotive, furniture and bedding, consumer appliances, packaging, and others are analyzed including market shares and market size forecasts for 2030. Further, business, SWOT, and financial profiles of 10 leading companies and market size outlook for 25 countries are included in the Blowing Agents industry analysis.
Introduction to Blowing Agents Market, 2023-
The blowing agent market is one of the high-prospect growth markets, driven by increasing polymeric foam applications across end-user industries. The market size is estimated at $1.5 billion in 2022 and over the forecast period to 2030, the blowing agents' industry is poised to register a 6.24% CAGR (Compounded Annual Growth Rate) between 2023 and 2030.
Global Blowing Agent Market Size Outlook (US$ Billion) and Growth Forecasts (%), 2021- 2030
Blowing Agent Market Trends- Nouryon, Honeywell, Milliken, and other companies focus on capacity expansion
Despite the negative impact of COVID-19 conditions on the global blowing agent market, the long-term consumption outlook remains robust. With an anticipated 6.6% CAGR over the forecast period, leading companies are planning to expand their capacities. For instance, Nouryon is relocating and expanding the capacity of its expandable microspheres business (used as a blowing agent).
Similarly, Honeywell and Sinochem formed a 50%-50% joint venture to manufacture and market energy-efficient blowing agents in China. Milliken also completed the acquisition of Zebra-chem, Germany-based peroxide masterbatches, and blowing-agent masterbatches manufacturer. Earlier, Arkema, through its subsidiary- Bostik, also acquired LIP Bygningsartikler AS and Taixing Sunke Chemicals for business expansion.
Over the long term, the demand for blowing agents, in particular, energy-efficient blowing agents with high quality and high-performance insulation.
Blowing Agent Market Drivers - Hydrocarbons (HC) type blowing agents hold the largest market share in the global blowing agents industry
Blowing agents produce a cellular structure through a foaming process in polymers, plastics, and metals.
Hydrocarbons are widely used blowing agents worldwide with over 30.7% contribution to the global market size of $1.5 billion during 2020. Low-Global Warming Potential (GWP) alternatives such as cyclopentane, cyclopentane blends, isobutane, and n-pentane are being developed for use across applications. Products with no ODP and very low GWP at comparable costs are marketed across most regions. Low-cost advantages coupled with ease of manufacturing, wide end-uses, availability, and performance. As a popular alternative to HCFCs, low-cost hydrocarbons are finding wide applications.
On the other hand, the transition from HFCs to HCs involves significant costs and requires safety mechanisms and training. For small and medium companies, the transition can be challenging. Further, the flammable nature of HCs subjects them to government regulations. Despite these challenges, Hydrocarbons and other ODP alternatives hold significant market share driven by wide adoption.
Blowing Agents Market Share- Asia/Oceania is the largest market for blowing agent manufacturers and vendors
China is the largest country for blowing agents worldwide, driven by large-scale adoption across a wide application range including refrigerators, building insulation, automobiles, furniture, and packaging. For reducing the impact on the environment, manufacturing companies are focusing on the launch of new products. Coordination among multiple vendors is also being observed in the industry for the development of providing tangible, cost-effective solutions.
Blowing Agents Competitive Landscape
The blowing agents' industry is characterized by intense competitive conditions, with leading companies competing on pricing and product differentiation strategies. The launch of new products tailor-made to specific end-user applications is widely observed in the industry. Leading companies profiled in the report include- Exxon Mobil Corporation, Honeywell International Inc, Linde plc, Solvay SA, Arkema Group, The Chemours Company, Haltermann Carless, and Daikin Industries, Ltd.
Blowing Agents Market Segmentation
Types
Foam
Applications
Companies
Regions
1. Executive Summary
1.1 Introduction to Blowing Agents Markets
1.2 Blowing Agents Market Size Outlook, 2021- 2030
1.3 Growth Opportunities in Blowing Agents Industry
1.4 Winning Strategies for the post-pandemic future
2. Report Guide
2.1 Market Definition and Scope
2.2 Market Segmentation
2.3 Research Methodology
2.4 Forecast Methodology
2.5 List of Abbreviations
3. Growth Opportunity Analysis
3.1 Key Blowing Agents Market Trends
3.1.1 Leading companies such as Nouryon, Honeywell, Milliken, and others focus on capacity expansion
3.1.2 Environment-friendly blowing agents offer huge growth prospects
3.1.3 Focus on emerging economies
3.2 Key Blowing Agents Market Growth Drivers
3.2.1 Strong demand growth from the building and construction application segments
3.2.2 Increasing use of PU foams in sandwich panels
3.2.3 Technological upgrades in refrigeration applications
3.3 Key Blowing Agents Market Growth Restraints
3.3.1 High costs of Product switching
3.3.2 Phase out of HFC (hydrofluorocarbons)
4 Blowing Agents Market Outlook – Scenario Analysis
4.1 Low Growth Case Scenario Forecasts: Blowing Agents Market Size Outlook to 2030
4.2 Reference Growth Case Scenario Forecasts: Blowing Agents Market Size Outlook to 2030
4.3 High Growth Case Scenario Forecasts: Blowing Agents Market Size Outlook to 2030
5. Blowing Agents Market Segmentation- Outlook by Type
5.1 Blowing Agents Market Share Analysis by Type, 2023
5.2 Hydrocarbons Market Outlook to 2030
5.3 HydroFluoroCarbons Market Outlook to 2030
5.4 HydroChloroFluoroCarbons (HCFC) Market Outlook to 2030
5.5 Other Types
6. Blowing Agents Market Segmentation- Outlook by Foam
6.1 Blowing Agents Market Share Analysis by Foam, 2023
6.2 Polyurethane Foam: Blowing Agents Market Outlook to 2030
6.3 Polystyrene Foam: Blowing Agents Market Outlook to 2030
6.4 Phenolic Foam: Blowing Agents Market Outlook to 2030
6.5 Polyolefin Foam: Blowing Agents Market Outlook to 2030
7. Blowing Agents Market Segmentation- Outlook by Application
7.1 Blowing Agents Market Share Analysis by Application, 2023
7.2 Construction: Blowing Agents Market Outlook to 2030
7.3 Automotive: Blowing Agents Market Outlook to 2030
7.4 Furniture and Bedding: Blowing Agents Market Outlook to 2030
7.5 Consumer Appliances: Blowing Agents Market Outlook to 2030
7.6 Packaging: Blowing Agents Market Outlook to 2030
7.7 Other Applications: Blowing Agents Market Outlook to 2030
8. North America Blowing Agents Market Outlook and Opportunities to 2030
8.1 Market Snapshot, 2023
8.2 North America Blowing Agents Market Growth Opportunities
8.2.1 North America Blowing Agents Market Outlook by Type, 2021 to 2030
8.2.2 North America Blowing Agents Market Outlook by Application, 2021 to 2030
8.2.3 North America Blowing Agents Market Outlook by Country, 2021 to 2030
8.3 United States Blowing Agents Market Outlook, 2021 to 2030
8.4 Canada Blowing Agents Market Outlook, 2021 to 2030
8.5 Mexico Blowing Agents Market Outlook, 2021 to 2030
9. Europe Blowing Agents Market Outlook and Opportunities to 2030
9.1 Market Snapshot, 2023
9.2 Europe Blowing Agents Market Growth Opportunities
9.2.1 Europe Blowing Agents Market Outlook by Type, 2021 to 2030
9.2.2 Europe Blowing Agents Market Outlook by Application, 2021 to 2030
9.2.3 Europe Blowing Agents Market Outlook by Country, 2021 to 2030
9.3 Germany Blowing Agents Market Outlook, 2021 to 2030
9.4 France Blowing Agents Market Outlook, 2021 to 2030
9.5 United Kingdom Blowing Agents Market Outlook, 2021 to 2030
9.6 Spain Blowing Agents Market Outlook, 2021 to 2030
9.7 Italy Blowing Agents Market Outlook, 2021 to 2030
9.8 Other Europe Blowing Agents Market Outlook, 2021 to 2030
10. Asia Pacific Blowing Agents Market Outlook and Opportunities to 2030
10.1 Market Snapshot, 2023
10.2 Asia Pacific Blowing Agents Market Growth Opportunities
10.2.1 Asia Pacific Blowing Agents Market Outlook by Type, 2021 to 2030
10.2.2 Asia Pacific Blowing Agents Market Outlook by Application, 2021 to 2030
10.2.3 Asia Pacific Blowing Agents Market Outlook by Country, 2021 to 2030
10.3 China Blowing Agents Market Outlook, 2021 to 2030
10.4 Japan Blowing Agents Market Outlook, 2021 to 2030
10.5 India Blowing Agents Market Outlook, 2021 to 2030
10.6 South Korea Blowing Agents Market Outlook, 2021 to 2030
10.7 Indonesia Blowing Agents Market Outlook, 2021 to 2030
10.8 Other Asia Pacific Blowing Agents Market Outlook, 2021 to 2030
11. South and Central America Blowing Agents Market Outlook and Opportunities to 2030
11.1 Market Snapshot, 2023
11.2 South and Central America Blowing Agents Market Growth Opportunities
11.2.1 South and Central America Blowing Agents Market Outlook by Type, 2021 to 2030
11.2.2 South and Central America Blowing Agents Market Outlook by Application, 2021 to 2030
11.2.3 South and Central America Blowing Agents Market Outlook by Country, 2021 to 2030
11.3 Brazil Blowing Agents Market Outlook, 2021 to 2030
11.4 Argentina Blowing Agents Market Outlook, 2021 to 2030
11.5 Other Latin America Blowing Agents Market Outlook, 2021 to 2030
12. Middle East and Africa Blowing Agents Market Outlook and Opportunities to 2030
12.1 Market Snapshot, 2023
12.2 Middle East and Africa Blowing Agents Market Growth Opportunities
12.2.1 Middle East and Africa Blowing Agents Market Outlook by Type, 2021 to 2030
12.2.2 Middle East and Africa Blowing Agents Market Outlook by Application, 2021 to 2030
12.2.3 Middle East and Africa Blowing Agents Market Outlook by Country, 2021 to 2030
12.3 Saudi Arabia Blowing Agents Market Outlook, 2021 to 2030
12.4 United Arab Emirates (the UAE) Blowing Agents Market Outlook, 2021 to 2030
12.5 Other Middle East Blowing Agents Market Outlook, 2021 to 2030
12.6 Egypt Blowing Agents Market Outlook, 2021 to 2030
12.7 South Africa Blowing Agents Market Outlook, 2021 to 2030
12.8 Other Africa Blowing Agents Market Outlook, 2021 to 2030
13. Profiles of major world Blowing Agents Companies
13.1 Exxon Mobil Corporation
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.2 Honeywell International Inc
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.3 Linde plc
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.4 Solvay SA
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.5 Arkema Group
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.6 The Chemours Company
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.7 Haltermann Carless
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.8 Daikin Industries, Ltd
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13.9 Foam Supplies Inc.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13.10 Harp International Ltd.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
14. Appendix
14.1 Publisher’s Expertise
14.2 List of Tables and Charts
14.3 List of Exhibits
14.4 Legal Disclaimer
Leading companies such as Nouryon, Honeywell, Milliken, and others focus on capacity expansion, Focus on emerging economies, Environment-friendly blowing agents offer huge growth prospects, Strong demand growth from the building and construction application segments, Increasing use of PU foams in sandwich panels, Technological upgrades in refrigeration applications, and others
The Blowing Agents market size is estimated at $1.5 billion in 2022
Over the forecast period to 2030, the blowing agents' industry is poised to register a 6.2% CAGR (Compounded Annual Growth Rate) between 2023 and 2030.
Exxon Mobil Corporation, Honeywell International Inc, Linde plc, Solvay SA, Arkema Group, The Chemours Company, Haltermann Carless, Daikin Industries, Ltd, Foam Supplies, Harp International Ltd., and others.
Environment-friendly blowing agents offer huge growth prospects. Further, the robust market potential in China is encouraging capacity expansion by several medium-scale to large-scale companies.