Blowing Agents Market - Snapshot

Expanding applications of blowing agents, besides wide use in the polymeric foam industry is contributing significantly to the growth of blowing agents market. Polyurethane foam, polyolefin foam, polystyrene foam, and phenolic foam are key types of foam that use blowing agents. Rising number of variants of blowing agents, which include spray foams, is another key factor behind growth of blowing agents market. Newer applications of new variants of blowing agents is aiding continued growth of blowing agents market.

Beyond this, novel use of blowing agents in the healthcare sector is likely to open new vistas for the blowing agents market. Approval of the FDA for use of a new foaming agent for healing abdominal trauma among military personnel is an example. Touted as a product for Fast Onset Abdominal Management, it can be injected into the patient’s body. These new blowing agents produce required pressure to stop abdominal bleeding. According to a study released in 2012, over 91% deaths on the battlefield in the last 10 years could have been prevented with advanced foaming technologies.

Wide use of varieties of polyurethane foam for domestic refrigeration is another key factor for the growth of blowing agents market. Polyurethane foams are used during the production process for much-needed insulation for refrigeration.

In the U.S., practices of owning more than one refrigerator for domestic use, thanks to their affordable cost, is indirectly stoking demand for blowing agents. Statistically, in the U.S., the number of refrigerators sold increased from 11.14 million in 2005 to 12.44 million by 2019. Such demand for domestic refrigeration is indirectly aiding growth of blowing agents market.

Expanding number of cold storages for storage of high volumes of fruits and vegetables is indirectly aiding growth of blowing agents market. This is related to exploding food needs for the exploding population in several parts of the world.

Blowing Agents Market: Overview

Blowing agents are widely used as additives in the polymeric foam industry. They are used as a part of the production process mainly to lend certain desired properties to polymeric foam. The importance of blowing agents is steadily rising for companies as the demand for low-cost foam products rises.

Blowing agents play a crucial role by helping to induce a specific cellular structure to the foamed material. This helps reduce the density of the foam, improve its acoustic and thermal insulation abilities, and also improve the relative toughness of the original material. Blowing agents can lend the desired characteristics to a myriad of materials. These characteristics could range from light-weighting, heat insulation, and sound absorbency to elasticity, permeability, electrical insulation and shock absorbency.

One of the most widely used blowing agents were chloro fluoro carbons (CFC’s). However, they were phased out because of their harmful effects on the ozone layer. While developing new products with similar or better functionality than CFC’s, players have to face several challenges such as the impact of the products on the environment and getting suppliers who can supply them with the requisite materials seamlessly among others.

Blowing Agents Market: Growth Enablers

Increasing demand for polymeric foams, especially polyurethane foams, owing to rapid development in their end-user industries such as construction and appliances is driving the demand for blowing agents. Additionally, high growth of end use industries in Asia Pacific is anticipated to further fuel the demand for blowing agents. However, stringent environmental regulations regarding chemicals used as blowing agents might hamper the growth. Development of new environment friendly biobased products for utility as blowing agents might bring future prospective opportunities for market growth.

Blowing Agents Market: Segmentation

The major types of blowing agents that find use in the industry are: Hydrocarbons (HCs), hydro-chloro-fluoro-carbons (HCFCs), and hydro-fluoro-carbons (HFCs). Of these, hydrocarbons currently stand as the dominant product segment. Among hydrocarbons, butanes and pentanes are the most common blowing agents used. HCFCs have been gradually phased out in industrialized nations. In many other developing regions as well, HCFCs are being phased out gradually because of their reported adverse effects such as Ozone Depletion Potential (ODP) and Global Warming Potential (GWP). This has in turn led several companies to develop and launch alternative blowing agents that are environment friendly.

Among the key foams that see the utilization of such blowing agents are: Polyurethane foam, polystyrene foam, phenolic foam, and polyolefin foam. The polyurethane foam industry makes use of all types of blowing agents and as a result, holds a major share in the market. Owing to its wide range of applications in chemicals, construction and automotive industries, demand for polyurethane products is rising at a high growth rate, which, eventually, generates demand for blowing agents.

Blowing Agents Market: Region-wise Outlook

Currently, Asia Pacific is estimated to be the largest market for blowing agents worldwide. It is also the fastest growing blowing agents market. The region consumed well over 50% of the blowing agents produced worldwide. It stands as one of the leading consumers of foam insulated products. China is among the top blowing agent consumers in Asia Pacific. Moreover, other Asian countries such as India and South Korea also generate considerable for blowing agents thanks to high industrial production levels. Mature markets in North America and Europe are expected to witness a relatively slower growth in demand for blowing agents. Additionally, these regions are at the forefront of the initiatives taken towards sustainable growth practices to protect the environment.

The market place is dominated by a few global players with major market share. However there are a large number of small and medium sized players, especially in Asia Pacific, competing for the market share with aggressive pricing schemes. Leading manufacturers in the blowing agents market include E. I. DuPont de Nemours and Company, Arkema SA, Haltermann GmbH, Foam Supplies Inc, Solvay SA and Honeywell International Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Blowing Agents Market

Pre Book