Asia Pacific accounts for nearly half of the foam blowing agents market consumption globally. Booming infrastructural development has led to an increase in the construction industry in this region.
Sellbyville, DE -- (SBWIRE) -- 05/02/2019 -- As per a recent industry report put forward by Global Market Insights Inc., Foam Blowing Agents Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD1.1 billion by 2024 with a projected CAGR of 7% over 2018-2024.
Surging demand for polymeric foam and the massive usage of foam blowing agents in its manufacturing process will augment Foam Blowing Agents Market size. These agents are essentially used to provide a firm cellular structure to foam substrates, subject to the numerous benefits they provide, such as less product weight, high acoustic insulation, reduced material usage, and excellent thermal insulation. They are also used in methylal, methyl formate, and other eco-friendly products, which will impel foam blowing agents industry size.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1123
Foam blowing agents find extensive applications across the polyurethane, polyolefin, and polystyrene industries. They are used to manufacture polyurethane foams that find applications across the flooring, construction, automotive, packaging, furnishing, hospitality, and medical devices sectors. Pertaining to the enhanced lifestyles and spending capabilities of consumers, foam blowing agents market size from polyurethane applications is expected to grow significantly over 2016-2024. Polystyrene and PU applications together accounted for a share USD 450 million in foam blowing agents industry in 2015.
Subject to the rapidly advancing automotive, medical, and hospitality sectors, Europe foam blowing agents market, despite being at an initial stage of development, will grow at a substantial growth rate over the years to come. The regional market contributed to more than 15% of the overall industry in 2015.
Speaking along similar lines, hydrocarbons, a key product of foam blowing agents market, is heavily deployed in polyurethane foaming across the appliances, construction, hospitality, automotive, and flooring sectors, subject to which they contributed to more than 50% of the total revenue in 2015. Foam blowing agents market share from hydrocarbons was worth USD 200 million in 2015, is anticipated to grow at a rate of 7% over 2016-2024.
Foam blowing agents are massively deployed in the polyolefins industry, in fact, experts claim that polyolefin applications are set to revolutionize foam blowing agents market by 2024. These applications are deployed across the packaging sector subject to the product's property of shock absorbency. Foam blowing agents market share from polyolefins applications was worth USD 90 million in 2015 and is expected to grow remarkably over the coming timeframe.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1123
Asia Pacific accounted for substantial demand in 2015 with nearly 50% foam blowing agents market share. Improving medical infrastructure across India and China makes APAC a high growth potential region in the coming years. Regional revenue is likely to cross USD 550 million by 2024 on account of robust automotive production and sales growth due to improved consumer lifestyle dynamics.
U.S. foam blowing agents market could be valued at more than USD 100 million by 2024. Well-established healthcare industry, consumer awareness regarding medical devices and improved living standards are the factors favoring market demand.
In 2015, the global foam blowing agents market share was consolidated. The key industry players accounted for more than half of the market share. Some of the major industry contributors are AkzoNobel N.V., Haltermann GmBH, Honeywell International Inc., Solvay S.A., Exxon Mobil Corporation, Sinochem Group, ZEON Corporation, Daikin Industries Ltd, Arkema S.A., E. I. du Pont de Nemours and Company. Major companies the industry have multiple presence across various stages of the value chain, which makes the industry highly competitive.
Browse key industry insights spread across 110 pages with 144 market data tables & 13 figures & charts from the report, "Foam Blowing Agents Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/foam-blowing-agents-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.