Enjoy complimentary customisation on priority with our Enterprise License!
The foam blowing agents market share is expected to increase by USD 294.56 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.29%.
This foam blowing agents market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers foam blowing agents market segmentations by type (HC, HFO, and Others), application (PU, PS, PO, and Others), and geography (APAC, North America, Europe, MEA, and South America). The foam blowing agents market report also offers information on several market vendors, including Akzo Nobel NV, Arkema SA, Daikin Industries Ltd., Exxon Mobil Corp., Foam Supplies Inc., Harp International Ltd., Honeywell International Inc., LANXESS AG, Sumitomo Corp., and The Chemours Co. among others.
Download the Free Report Sample to Unlock the Foam Blowing Agents Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing demand for foam blowing agents from the automotive and construction industries is notably driving the foam blowing agents market growth, although factors such as an increase in the use of hfcs and hcfcs in unauthorized sectors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the foam blowing agents industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Foam Blowing Agents Market Driver
The growing demand for foam blowing agents from the automotive and construction industries is notably driving the foam blowing agents market growth. The global automotive industry is expected to grow at a significant rate during the forecast period, which would register an increase in the demand for foam blowing agents. Foam blowing agents are widely used in the production of different automotive parts such as side skirts, wiper cowls, roll pans, and bumpers. The market is expected to register growth during the forecast period because of the increasing demand for vehicles. The development of foams in the form of PS and PU has increased the growth of foam blowing agents in the global market. The increase in the application of foam blowing agents in the construction industry is also one of the major driving factors for the global foam blowing agents market. The growth in the construction industry has resulted in high demand for foam blowing agents. The increasing demand for housing, hospitality, flooring material, and effective sound furnishing is expected to increase the requirement for foam blowing agents during the forecast period.
Key Foam Blowing Agents Market Trend
The growing demand for foam blowing agents in China is the key market trend driving the foam blowing agents market growth. The moderate growth rate in the Chinese foam market is expected to bring out opportunities for the global market since the market in China is expected to grow for HC and HFO on a large scale, subsequent to the phaseout of HFCs and HCFCs. The demand for blowing agents from downstream users is expected to recover slowly as the Chinese economy shifts from an export-led to a consumption-driven model. This, coupled with a growing middle-class population and increasing awareness of environmental issues, will drive the growth for manufacturing blowing agents that are eco-friendlier.
Key Foam Blowing Agents Market Challenge
The major challenge impeding the foam blowing agents market growth is an increase in the use of hfcs and hcfcs in unauthorized sectors. There are manufacturing units that manufacture these harmful banned chemicals in an unauthorized manner. These manufacturing units are present in large numbers in specific developing and underdeveloped regions. APAC, South America, and the Middle East have these unauthorized sectors that manufacture these banned products. Not every manufacturing unit follows regulations, which becomes difficult for them to access the revenue generated from the unauthorized business. Since the ban on HFC and HCFC is imposed, the manufacturers cannot be traced, regardless of the implementation of orders; this imposition of a regulatory ban poses a major challenge to the industry.
This foam blowing agents market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global foam blowing agents market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the foam blowing agents market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the foam blowing agents market encompasses successful business strategies deployed by the key vendors. The foam blowing agents market is fragmented and the vendors are deploying growth strategies such as manufacturing products that comply with the fluctuation of prices to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The foam blowing agents market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the foam blowing agents market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.