The global foam blowing agents market is expected to grow at a CAGR of 5.21% from 2016 to 2022 to reach $963 million by 2022 from $684 million in 2015. Foam blowing agents are substances that when added to the substrate provides cellular structure to the substrate through foaming process. A foam blowing agent is added to a liquid substrate using a high-pressure injection, which creates a hole and expands to provide a cellular structure to the substrate. They are used as additives for manufacturing different type of foam blowing agents such as polymeric, plastic, and metal foams.
The foam blowing agents augment the properties and nature of foams. The cellular matrix-like structure provides strength to them. The other advantages of foams include low material consumption, excellent insulation properties, similar structure, and low weight of final product.
Chlorofluorocarbons (CFCs) are some of the most widely used blowing agents. However, they were phased-out because of their harmful effects on the ozone layer. While introducing new products with similar or better functionality than CFCs, companies face numerous challenges such as the impact of the products on the environment and getting suppliers who can supply them with the required materials flawlessly. The rise in adoption of eco-friendly and low-priced foam blowing agents such as hydrazine, methyl formate, liquid CO2, and water are expected to contribute to the growth of the foam blowing agents market.
The global foam blowing agents market is expected to expand due to the investment in the natural foam blowing agents such as liquid carbon dioxide and water. The low price and eco-friendly attribute of foam blowing agents are expected to drive the global foam blowing agents market during the forecast period. The growth in the construction and automotive industries is increasing the demand for polymeric foams. Other factors that drive the market include enhancing or upgrading the properties and nature of polymer, improvement in efficiency as well as development of low GMP and zero ODP foam blowing agents. However, stringent environment regulations against the use of harmful agents imposed by the government and various organizations of different regions is likely to restrain the market growth.
The global foam blowing agents market is segmented based on type, application, and geography. Based on type, the market is segmented into hydrocarbons, hydrofluorocarbons, hydrofluorocarbons, hydrochlorofluorocarbons, and others, which includes hydrofluoroolefins, methyl formate, liquid CO2, and water. According to application, the market is categorized into polyurethane, polystyrene, polyolefins, and others (phenolic foams and polyvinyl chloride. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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