Foam Blowing Agents (Hydrocarbons (HC), Hydrofluorocarbons (HFC), Hydrochlorofluorocarbons (HCFC) and Others) Market for Polyurethane Foams, Polystyrene Foams, Polyolefin Foams and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 03/23/2015 -- Foam blowing agents are substances that are mixed with substrates to create a cellular structure through a foaming process. The biggest benefit offered by foaming of polymeric material is a reduction in material wastage, acoustic and thermal insulation, and trimming the weight of the desired product. The global foam blowing agents market has been growing at an accelerated pace due to increasing demand from the construction industry across the globe. The fluctuating prices of feedstock for petroleum-based foam blowing agents and strict regulatory frameworks for chemicals that are hazardous to the environment are likely to inhibit the growth of this market in the coming few years.
The global foam blowing agents market is segmented on the basis of products, applications, and regions. The product segmentation covers hydrofluorocarbons (HFC), hydrocarbons (HC), hydrochlorofluorocarbons (HCFC), and others such as CO2, azodicarbonamide, hydrazine, and water. The application segmentation comprises polyurethane (PU) foams, polyolefin foams, polystyrene (PS) foams, and others such as phenolic foams and polyvinyl chloride (PVC) foams. Geographically, the global foam blowing agents market is segmented into North America, Asia Pacific, Europe, and Rest of the World.
HCFCs to be Phased Out in the Coming Few Years
Hydrocarbon (HC) foam blowing agents are expected to be the fastest growing segment in the market in the coming five to six years. However, it was hydrofluorocarbons which held a mammoth share in the global foam blowing agents market in 2013, due to the high demand for it from developed regions of the world.
In the coming years, HCFCs are expected to lose their market share, as they are in the process of being substituted by substances that don't harm the environment; HCFCs are among the most corrosive substances for Earth's crucial ozone layer. Both developed and developing countries across the world will switch to using hydrocarbons and HFCs due to their superior efficiency over other products.
PU Foams to Drive Global Foam Blowing Agents Market
In the application segmentation, PU foams were the clear leader of the global foam blowing agents market in 2013, with a gigantic market share of over 50%. Analysts at Transparency Market Research, a U.S.-based intelligence firm, state that the applications of PU foams are expected to grow at a rapid pace from 2014 to 2020. This projected growth rate is attributable to growing demand for PU foams in insulations in the construction industry. Polystyrene (PS) foams will also register a good growth rate, thanks to the booming automotive industry and expanding construction activities.
Asia Pacific to Continue Dominance over Global Foam Blowing Agents Market
The global foam blowing agents market was dominated by Asia Pacific, which accounted for more than 50% of the market in 2013 in terms of volume. In the coming few years, Asia Pacific will not only hold the biggest market share but will also be the fastest growing market. The factors contributing to its unprecedented growth rate are the huge demand for PU foams from the automotive industry and upcoming construction plans in the region. The growth of the PU foams market in this region is also due to a large and expanding consumer base. North America will follow Asia Pacific in terms of growth, a projection that is based on the fact that it held 24% of the global foam blowing agents market in 2013. On the other hand, Europe will experience a slow growth rate, as it inches closer to maturity in the coming six years.
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The global foam blowing agents market is oligopolistic in nature and is tightly held by a few players. Some of the noteworthy players in the global foam blowing agents market are Exxon Mobil Corporation, Haltermann GmBH, Solvay S.A., Arkema S.A., E. I. du Pont de Nemours and Company, Daikin Industries Ltd., ZEON Corporation, AkzoNobel N.V., Honeywell International Inc., and Sinochem Group.
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