Blowing Agent Market Overview:
Global Blowing Agent Market size and share is currently valued at USD 1.52 billion in 2024 and is anticipated to generate an estimated revenue of USD 2.29 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.2% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Energy Efficiency: The demand for energy-efficient buildings and appliances increases the use of blowing agents in insulation materials.
- Environmental Regulations: The phase-out of ozone-depleting substances has led to the development of eco-friendly blowing agents.
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Market Research Scope:
- Types of Agents: Physical (e.g., hydrofluorocarbons) vs. chemical (e.g., azodicarbonamide).
- Application Areas: Use in insulation foams, packaging, and cushioning products.
- Regulatory Impact: Analysis of eco-friendly blowing agents and restrictions on ozone-depleting substances.
- Regional Trends: High-growth markets driven by construction and automotive industries.
- Innovation Opportunities: Development of low-GWP (Global Warming Potential) blowing agents.
Key Companies in Blowing Agent Market:
- Arkema SA (France)
- Daikin Industries, Ltd. (Japan)
- Exxon Mobil Corporation (US)
- Foam Supplies, Inc. (US)
- Haltermann Carless (Germany)
- Harp International Ltd. (UK)
- Honeywell International Inc. (US)
- Linde plc (UK)
- Solvay SA (Belgium)
- The Chemours Company (US)
Blowing Agent Market Segmentation:
Blowing agents are essential additives used in the production of foamed materials such as insulation panels, packaging, and automotive components. These agents create cellular structures within polymers, reducing density while enhancing thermal insulation and acoustic properties. Classified into physical, chemical, and eco-friendly agents, their applications span diverse industries, including construction and consumer goods. Growing environmental concerns have shifted the focus towards low-global-warming-potential (GWP) and ozone-safe options like hydrofluoroolefins (HFOs). Innovations continue to enhance performance and align with global environmental standards.
Blowing Agent Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Hydrochlorofluorocarbons (HCFC)
- Hydrofluorocarbons (HFC)
- Hydrofluoroolefin (HFO)
- Hydrocarbons (HC)
- Others
Blowing Agent Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Bedding and Furniture
- Building and Construction
- Appliances
- Automotive
- Packaging
- Others
Blowing Agent Market, Foam Outlook (Revenue – USD Billion, 2019-2032)
- Polystyrene Foam
- Polyolefin Foam
- Polyurethane Foam
- Phenolic Foam
Blowing Agent Industry Developments:
- In June 2021, Arkema announced plans to expand its production capacity for the insulation foam blowing agent Hydrofluoroolefin 1233zd (HFO-1233zd) in both China and the United States, aiming to meet the growing demand for sustainable insulation materials.
- In March 2021, Milliken acquired Zebra Chem, a German-based manufacturer of blowing agents. This strategic acquisition is expected to significantly boost Milliken’s production capabilities and strengthen its position in the global blowing agent market.
The Blowing Agent market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.