Foam Blowing Agents Market Growth Outlook, Opportunities
The global foam blowing agents market size is predicted to elevate from 2024 to 2032.
The demand for foam blowing agents market growth is taking the lead due to its more excellent properties, such as energy-efficient, environmentally friendly blowing agents, to surge its demand and growth.
Additionally, the demand from the construction industry is also surging in the market for the product. The shock absorbent and absorbent of water on furniture are the reasons for the increase in the demand for polymer foam.
Fortune Business Insights provides this information in its “Foam Blowing Agents Market, 2024-2032.”
Request Sample PDF: www.fortunebusinessinsights.com/enquiry/sample/foam-blowing-agents-market-106754
Segmentation
On the basis of product, the market is divided into hydrofluorocarbons (HFC), hydrocarbons, hydrochlorofluorocarbons (HCFC), and others. Hydrocarbons are used in various applications, such as appliances, flooring, and construction.
Based on application, the market is segmented into polyurethane, polystyrene, and polyolefin.
Geographically, the market is divided into regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Report Coverage:
This report provides valuable insights into the key drivers and strategies impacting market trends in the upcoming years. The report studies the market thoroughly by splitting the market into segments and regional insights. The description also gives a thorough analysis stating all the upcoming trends, challenges, and competitions.
Drivers and Restraints:
Rising Demand for Foam Blowing Agents from Flooring Industry and Hospitality Sector
The hospitality sector demands excellent and high-quality grades of furniture. The foam-blowing agent’s market share has increased with the demand from the furniture and flooring industries. The surging demand for polymer foam is because of its superior properties, such as shock absorbent, aesthetic appearance to furniture, and helping absorb water on a table. Also, it helps in keeping global warming potential low, as it is non-toxic and has zero-ozone depletion. Some other properties, such as environmentally friendly and efficient, will lead the market in the coming years.
Regional Insights
Presence of Numerous Leading Manufacturers in Asia Pacific to Propel Market Growth
Asia Pacific dominated the market surging the growth in the market especially from the construction sector and rapid infrastructural development. North America will show a considerable growth in the forecast period. Polyurethane foamis used to make various products such as Steering wheels, door panels and seats.
Leading regions such as India, South Korea, Thailand, and Vietnam are showing greater demand and rapid technological and industrial breakthroughs
Ask For Custmization: www.fortunebusinessinsights.com/enquiry/ask-for-customization/foam-blowing-agents-market-106754
Competitive Landscape:
Partnership Among the Companies to Secure Their Brand Market
Players in the market have launched numerous innovations to mark their stand in the market. To back their position in the market, companies have been applying for schemes such as partnerships, mergers, and so on. One such strategy is to launch new products by partnering with other companies to extend their reach to end-users.
Key Industry Developments:
- June 2021: Arkema, initiated producing insulating foam-blowing agent hydrofluoroolefin- 1233zd (HFO-1211zd). Arkema, in its Calvert City, Kentucky plant announced to invest USD 60 million so as to increase HFO capacity to 15,000metric tons (t) per year. According to the statement given by Arkema, HFCs can be used in all major types of manufactured spray-foam systems, as well as rigid foams.
- May 2021: SOPREMA, a leading wall protection, roofing, waterproofing, and civil engineering industry revealed that it is going to use Gas Blowing Agent (GBA) by Honeywell’ Solstice for manufacturing insulation of extruded polystyrene boards.
List of Key Players Mentioned in the Report:
- Honeywell International Inc. (U.S.)
- Arkema S.A. (France)
- Exxon Mobil Corporation (U.S.)
- Solvay S.A. (Belgium)
- Sinochem Group (China)
- Haltermann GmbH (U.K.)
- Harp International Ltd. (U.K.)
Related Blogs:
issuu.com/ameliajame/docs/pubr_external_pr_pharmaceutical_packaging_market_p
Leave a Reply