Development in automotive industry is anticipated to expand the global market for foam blowing agents.
San Francisco, CA -- (SBWIRE) -- 10/11/2018 -- Global Foam Blowing Agents Market: Snapshot
Development in automotive industry is anticipated to expand the global market for foam blowing agents. Foam blowing agents are used for enhancing the properties of polymers. They provide the polymer matrix a cellular structure that strengthens the foam. Polymeric foams have optimum flexibility, low heat transfer, and low density. The various foam blowing agents available in the global market are methylal, inert gases, methyl formate, azodicarbonamide, hydrocarbons, and water.
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Foam blowing agents used in the production of various automotive parts such as bumpers, roll pans, wiper cowls, and side skirts. These growing applications in automotive industry and development in construction industry are expected to fuel the growth of this market. Furthermore, the growth of polystyrene, polyurethane, and other product-based foam industries are helping the market to grow. The growing world population is propelling the growth of construction industry. Demand for effective sound furnishing, flooring material, hospitality, and housing are envisioned to bolster the demand for foam blowing agents. Furthermore, the blooming of medical devices and packaging industry is foreseen to expand the market further.
The global market of foam blowing agents can be segment geographically in Asia Pacific, Latin America, the Middle East and Africa, Europe, and North America. It is anticipated that due to development in the construction industry in developing countries such as India and China, Asia Pacific will dominate the global market. However, North America is also expected to show a steady growth in the market. As the major share of the global market of foam blowing agents is held by a few companies, the competitive landscape of the market is moderately consolidated.
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Global Foam Blowing Agents Market: Overview
Foam blowing agents are essentially used for enhancing the existing properties of polymers. Their very function is to provide the polymer matrix a cellular structure, which, in turn, strengthens the foam. Polymeric foams are known to have low density, low heat transfer, and optimum flexibility amongst other advantages. The various foam blowing agents available in the global market are water, hydrocarbons, azodicarbonamide, methyl formate, inert gases, and methylal.
Global Foam Blowing Agents Market: Drivers and Trends
The demand for foam blowing agents has been on an upswing due to the growing automotive industry. These agents are extensively used in the production of various automotive parts such as side skirts, wiper cowls, roll pans, and bumpers. The demand for foam blowing agents is anticipated to be on the rise in the coming years due to their growing application in the automotive and construction industries. The growth of the booming polyurethane, polystyrene, and other product-based foam industries are fuelling the growth of the global foam blowing agents market.
The exponential rise in the global population has given the construction industry a significant boost in recent years. Demand for housing, hospitality, flooring material, and effective sound furnishing are expected to boost the demand for foam blowing agents in the near future. The foam blowing agents market is also expected to witness a good growth rate due to the emergence of the packaging and medical devices industry.
Global Foam Blowing Agents Market: Market Potential
Companies in the global foam blowing agents market are focused on developing eco-friendly blowing agents to minimize the impact on the environments. Currently, Lapolla Industries Inc. is working on commercializing Solstice, a liquid blowing agent that has the reputation to prevent ozone depletion and minimize global warming. The product is being developed by Honeywell International Inc., which is known to have fewer hydrofluorocarbons (HFCs). Lapolla and Honeywell are working in collaboration to develop products that bear a social and an environmental responsibility. Such efforts are expected to add value to the global market and work in favor in its favor in the coming years.
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Global Foam Blowing Agents Market: Regional Outlook
In terms of geography, the global foam blowing agents market is divided into Asia Pacific, Latin America, the Middle East and Africa, Europe, and North America. The research report states that Asia Pacific foam blowing agents market is projected to lead the pack due to the protean construction industry, which is currently focused on making infrastructural developments.
Presently, emerging countries of South Korea, Thailand, Vietnam, and India are undergoing major changes in terms of infrastructure, which is expected to increase the uptake of foam blowing agents in the regional market. Furthermore, significant technological advancements and phenomenal pace of industrialization in Asia Pacific, which is seen through the rise of industries such as medical devices, packaging, and automotive are expected boost the consumption of foam blowing agents.
North America is also projected to show a steady growth in the global foam blowing agents market due to rising activities in the packaging and pharmaceutical industries. On the other hand, Europe will show a sluggish market growth in the global market.
Key Players Mentioned in the Research Report are:
The competitive landscape in the global foam blowing agents market is quite consolidated with the major share in the market held by a few companies. The research report states that the leading players operating in the global foam blowing agents market are Haltermann GmbH, ZEON Corporation, Sinochem Group, AkzoNobel N.V., Daikin Industries Ltd., Arkema S.A., Honeywell, Solvay S.A., Exxon Mobil Corporation, and DuPont.
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