The Foam blowing agents market reached a valuation of $1.4 bn in 2018. The market is witnessing a tremendous growth, thanks to rising diversification in blowing agents, and their end applications. Moreover, the demand for rigid foam WCs like azodicarbonamide (ADC) and sodium bicarbonate are witnessing an increasing uptake for PVC cellular formation. The rising demand will likely drive a notable CAGR of 6% growth in the foam blowing agents market during 2019-2027.
Apart from their PVC-related industrial manufacturing application, the foam blowing agents like spray foams are witnessing an increasing demand in the US. Spray foams like polyurethane and polyisocyanurate are used in building construction to provide thermal insulation for walls. Their application also reduces air infiltration. The growing trend of DIY in home repairs, the cost-effective, and ease of use of foam sprays, and high costs of housing, will continue to drive this trend during the forecast period.
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Among regions, Asia Pacific will likely emerge as a major region for growth for players in the blowing agents market. The rising demand for foaming agents like sodium laureth sulphate or SLES for production of surfactant, and detergents is on a considerable rise. These are widely used in personal care products including toothpastes, soaps, and shampoos. The rising disposable income in the region, and growing awareness about personal care will likely drive growth for SLES, and sodium dodecyl sulphate (SDS) based products during the forecast period.
Healthcare Sector Promises New Opportunities for Growth
The FDA has granted approval for a new foaming agent that promises to heal abdominal trauma among military personnel. The product touted as Fast Onset Abdominal Management can be injected into a patient’s body to produce required pressure to prevent abdominal bleeding. According to a major study published in 2012, during 10 years on the battlefield, over 91% deaths occurred could have been prevented with advanced foaming technologies. Among these, over 67% received fatal injuries to the trunk of the body. The new foaming agent can be inserted deep within the body with the help of a needle, and enhance application to create new opportunities for growth for players in the foam blowing agents market.
Domestic and Commercial Refrigeration Remain Major Opportunities
Varieties of polyurethane foam are widely used for domestic refrigeration. These foams are applied during the production process, and provide the much-needed insulation to keep out warmth and provide the much-needed cooling for the inner structure. The number of refrigerators sold in the US keeps rising each year, thanks to their affordable costs, and new varieties of environmental friendly blowing agents. While in 2005, the total number of refrigerators sold stood at 11.14 million, the number rose to 12.44 million by 2019. Additionally, blowing agents are also used in cold storage rooms in retail, wherein these are expected to receive a burgeoning application, thanks to growth of warehousing, and increased scrutiny of refrigeration techniques to maintain food quality.
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Global Foam Blowing Agents Market by Product
- HC
- HFC & HCFC
- Blends
- HFO
- Methylal & Methyl Formate
- Others (Including Liquid Carbon Dioxide and Water)
Global Foam Blowing Agents Market by Application
- Polyurethane Foams
- Polystyrene Foams
- Phenolic Foams
- Others (Including PVC Foams and Polyisocyanurate Foams)
Global Foam Blowing Agents Market by End-use Industry
- Building & Construction
- Electrical & Electronics
- Furniture & Bedding
- Automotive
- Footwear
- Others (Including Textiles and Medical)
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Global Foam Blowing Agents Market by Region
- North America
- S.
- Canada
- Europe
- Germany
- France
- K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Companies in the Foam Blowing Agents market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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