Blowing Agents Market Size, Share to Grow at a CAGR of 5.42% by 2030 | ChemAnalyst

2023-03-15 06:09:24 UTC | Chemicals & Advanced Materials
Blowing Agents Market Size, Share to Grow at a CAGR of 5.42% by 2030 | ChemAnalyst
According to ChemAnalyst report, “Global Blowing Agents Market Analysis: Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand 2015-2030”, The Blowing Agents market is likely to experience a hike in demand in the forthcoming years and expected to grow at an expected CAGR of 5.42% during the forecast period. The increasing demand of Blowing Agents from end-use industries like Automotive, Construction, Furniture, Packaging, and Electronics, is anticipated to positively impact the Blowing Agents market in the coming years.

Blowing Agents are the substances which impart cellular structures to the polymer materials through a process called foaming in several materials such as polymers, plastics and metals. There are two types of Blowing agents, Physical Blowing Agents and Chemical Blowing Agents. Physical Blowing Agents include Hydrochlorofluorocarbons (HCFCs), Hydrofluorocarbons (HFCs), Hydrocarbons (HCs), Hydrofluoroolefin (HFO) and others. Chemical Blowing Agents form cellular structures within the polymer matrix, creating foams by undergoing chemical reactions during the processing of Polymer matrix in which they are added.  Chemical blowing agents are further bifurcated into exothermic and endothermic depending upon the heat released or added in the extruder while processing the polymer material.

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The Blowing Agents market across the globe is primarily driven due to its usage by the Automotive sector. These agents find applications in automotive components requiring heat and sound insulation. This industry is expected to retain as the dominant consumer in the future as well due to growing demand of vehicles for transportation and travel purposes. As in construction Blowing Agents are used in areas such as block pipe, temperature maintenance, roof insulation etc, thus, expansion in the construction sector is anticipated to propel the market expansion. Additionally, growth in other end use industries including the furniture and electronics sector is also anticipated to boost the market in the upcoming years.

The global Blowing Agents market is segmented based on type, end-use, sales channel, and region. Based on the end-user industry, the global Blowing Agents market is segmented into Automotive, Construction, Furniture, Packaging, Electronics, and Others. Among these, automotive sector is leading the market followed by the Construction sector.

Based on region, Asia Pacific is dominating the market because of the development and expansion of numerous end-user industries in this area, growing industrialization, and increased manufacturing of polymer foams. This region is anticipated to retain this position in the forthcoming years as well. Moreover, Asia Pacific also leads in terms of producing Blowing Agents, with China being the key player.

“Global Blowing Agents Market Analysis: Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand 2015-2030”, the major players in the global Blowing Agents market are Honeywell International Inc., Exxon Mobil Corporation, Linde, Arkema, JingJiang Hangsun Plastic Additives, Harp International Ltd., ZEON CORPORATION, DuPont, HCS Group, Linde plc, INEOS Group, and others.

“Blowing Agents are used prominently in the polymer industry as an additive for the production of different types of foams. These foams have a wide range of applications in various sectors such as the Automotive and Construction sectors. Thus, growth in these industries would consequently fuel the demand for Blowing Agents. Moreover, automotive manufacturers are more focused to produce lightweight vehicles thereby, adapting polymers replacing metals which is likely to propel the Blowing Agents market in the forecast years. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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