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Blowing Agents Market | Covid-19 Impact Analysis
The Blowing Agents Market is Segmented by Chemistry Type (Physical Blowing Agents, Chemical Blowing Agents), by Foaming Agent Process Type (Endothermic Chemical Foaming Agents, Exothermic Chemical Foaming Agents, and Endothermic and Exothermic Blend Chemical Foaming Agents), by Product Type (Hydrochlorofluorocarbons (HCFCs), Hydrofluorocarbons(HFCs), Hydrocarbons, and Others), by Foam Type (Polyurethane Foam, Polystyrene Foam, Phenolic Foam, Polyolefin Foam, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Blowing Agents Market is likely to witness an impressive CAGR of 5.7% during the forecast period. The major factor driving the growth of the blowing agents’ market is the growing construction, electronics, and automotive industries, in the emerging economies of the Asia-Pacific region. In addition, the global increase in the application of polymeric foam and growing demand for blowing agents in various applications for the production of foams for use in the automotive, construction, and appliance industries from the developing countries are also likely to drive the growth of the market during the forecast period.
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Blowing Agents Market - Snapshot |
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Growth |
5.7% for the next five years |
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Dominant Product Type |
Hydrofluorocarbons (HFC) |
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Major Foam Type |
Polyurethane Foam |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Arkema S.A., Daikin Industries, Ltd., DuPont de Nemours, Inc., Exxon Mobil Corporation, Foam Supplies, Inc., Haltermann Carless Deutschland GmbH, Harp International Ltd., Honeywell International Inc., Solvay S.A., and The Linde Group |
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Based on the product type, the market is segmented as hydrochlorofluorocarbons, hydrofluorocarbons, hydro carbons, and others. HFC is estimated to lead the blowing agents market during the forecast period. The utilization of HFC blowing agent is rapidly increasing after the phase-out of HCFCs, the usage is quite higher, specifically in the developing regions. Factors such as cost-effectiveness and the low GWP, as well as ODP of blowing agents as compared to HCFC, is the major reason for increasing consumption of HFC blowing agent.
Based on the foam type, the market is segmented as polyurethane foam, polystyrene foam, phenolic foam, polyolefin foam, and others. Polyolefin foam is estimated to be the fastest-growing segment, whereas polyurethane foam is expected to have the largest share of the market for blowing agents by foam type, during the forecast period.
Polyurethane foam has several applications across the globe and is widely used for thermal insulation in buildings, household appliances, and transport systems. Further, it is also used in seating, bedding, carpet backing, electronic, computer, shoe soles, dash panel, and other applications. Hence, the constant demand for polyurethane foams for various applications in these industries is expected to drive the growth of the blowing agents’ market during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest blowing agents’ market during the forecast period, with China, Japan, India, South Korea, Thailand, and Indonesia being the major countries with lucrative growth opportunities. The increase in the usage of hydrocarbons, unsaturated HFCs, major production base of HCFC blowing agents situated in China, and other chemical blowing agents are the prime factors contributing to the growth of the market in the region during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Some of the key players in the blowing agents’ market are-
A Blowing Agent is a substance which has the capacity to produce a cellular structure by a foaming process in different types of materials that go through the process of hardening or phase transition such as plastics, metals, and polymers. These blowing agents are usually applied when the blown material is in a liquid stage. The cellular structure in a matrix decreases the density, increasing thermal and acoustic insulation, while giving rise to the relative stiffness of the original polymer.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Blowing Agents Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
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The blowing agents’ market is segmented into the following categories.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
Driven by the factors like increase in the application of polymeric foam and growing demand for blowing agents in various applications, the blowing agents market is expected to witness an impressive growth of 5.7% CAGR in the foreseeable future.
Arkema S.A., Daikin Industries, Ltd., DuPont de Nemours, Inc., Exxon Mobil Corporation, Foam Supplies, Inc., Haltermann Carless Deutschland GmbH, Harp International Ltd., Honeywell International Inc., Solvay S.A., and The Linde Group are among the key players in the blowing agents market.
Asia-Pacific is expected to remain the largest blowing agents market during the next five years.
Polyurethane foam is expected to have the largest share in the blowing agents market.
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