Blowing Agents Industry Trends, Future Development, Top Players, Investment Factors and forecast 2023

Market Overview:

Blowing agents are available in two types namely exothermic and endothermic. The blowing agents decompose and generate environmentally neutral gases when heated. The endothermic type blowing agents are used because they carry out gas production until heat input is provided. This makes endothermic blowing agents easy to manage during processing. Moreover, the endothermic blowing agents absorb heat energy from their surroundings. This ideally reduces the mould cooling times and the ability to reduce mould cycle times in injection moulding. Thus, the endothermic blowing agents is dominating the market.

Hydrochlorofluorocarbons, hydrocarbons, hydrofluorocarbons, and hydrofluoroolefins are some of the blowing agents’ product. The hydrocarbons segment is likely to dominate the global market owing to their ease of application, good efficiency, and negligible global warming potential. Moreover, they possess good material compatibility and solubility with lubricants as compared to the CFCs or HFCs.

The application segment includes rigid polyurethane, flexible polyurethane, integral skin polyurethane, polystyrene, polyolefin, phenolic, and others. The rigid and flexible polyurethane together dominate the global market due to their high demand from various end-use industries such as appliances, automotive, building & construction, electronics, flooring, marine, furnishing, and others. The rigid polyurethane is used for insulation in refrigerators & freezers, roofing & walls, and for sandwich panels. It is also used in boat manufacturing for both structural and flotation purposes. The flexible polyurethane is used for foam furniture, bedding, chair cushions, and shoe soles. Extruded sheets of polystyrene are highly consumed for packaging foam, which may offer substantial opportunities for the product in the coming years.

Competitive Analysis

• Solvay
• The Dow Chemical Company
• INEOS Group
• DAIKIN INDUSTRIES, LTD.
• Arkema
• BASF SE
• SINOCHEM GROUP
• ZEON CORPORATION
• Harp International Ltd.
• Honeywell International Inc.
• Exxon Mobil Corporation
• AkzoNobel N.V.
• The Chemours Company

Regional Analysis

The Blowing Agents Industry is spanned across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia Pacific dominated the global Blowing Agents Industry in 2016 on account of the high demand from the automotive and building & construction industry in the region.

Europe was the second leading market in 2016 due to the high production and sales of the automotive parts in countries such as Germany, Italy, U.K, France, and others.

The high demand from automotive and aerospace industry is expected to drive the Blowing Agents Industry in the North American region. Furthermore, the rebound in construction activities in the region is likely to fuel the market growth during the forecast period 2018-2023.

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