Foam Blowing Agents Market Opportunities, Drivers, Restraints, Threats, Trends, Applications And Growth Forecast To 2018 - 2026
Foam blowing agents are substances used in the foaming process to expand in matrix and provide cellular structure to substrates, increasing the final product's flexibility and acoustic and thermal insulation. Increased use of foam blowing agents in the manufacturing of polyurethane foam, as well as increased demand for polymeric foams across industries such as automotive, construction, and appliances, is expected to drive the global foam blowing agents market forward in the future. Polyurethane foam is a type of polymer foam that is commonly used in a variety of industries, including electronics, flooring, automotive, construction, packaging, and medical equipment.
People's rising living standards lead to the growth of foam blowing agent end-use industries around the world. Aside from that, the rise in purchasing power parity (PPP) in recent years has aided the growth of the flooring and furnishing business, which requires polymeric foams for shock absorption. As a result, higher polymeric foam utilisation is expected to enhance global market growth.
The major contributor to the worldwide foam blowing agents market has been Asia Pacific. Significant infrastructure development, which aided the construction industry's expansion in the area, particularly in India, Thailand, South Korea, and Vietnam; technical breakthroughs, and rapid industrialization are all factors contributing to market growth. However, due to high costs associated with changing technology and rapid changes in the US Environmental Protection Agency (EPA), significant new alternatives policy (SNAP) in the foam blowing agents is being considered, such as the introduction of fourth-generation blowing agents, AFA series, and urethane foams, among others, to replace the use of HCFC and HFC. It has been in force since January 1, 2017, and it is expected to slow the growth of the foam blowing agent market.
Some of the major companies in the foam blowing agents market are Arkema S.A., Exxon Mobil Corporation, Daikin Industries, Ltd., ZEON Corporation, Honeywell International Inc., Haltermann GmbH, Harp International Ltd., Sinochem Group, E.I. du Pont de Nemours & Company, and Solvay S.A. Other well-known companies in the global market include Linde AG, Astra Polymers, AkzoNobel N.V., KSJN Catalyzing Industries, Lychem International Co., Limited, SPL Group, Sunwell Global Ltd., BEO International, and Marubeni Corporation.
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