Foam Blowing Agents MarketSize and Trends

Foam blowing agents are substances that used in the foaming process to expand in matrix and offer cellular structure to substrates, thereby intensifying the flexibility as well as acoustic and thermal insulation of the final product. Drastic increase in demand for polymeric foams across industries, such as automotive, construction, and appliances, along with increased use of foam blowing agents in manufacturing of polyurethane foam is expected to play a major role in driving the growth of the global foam blowing agents market in the future. Polyurethane foam is one of the most commonly used types of polymer foam, which finds wide application in various industries, including electronics, flooring, automotive, construction, packaging, and medical devices. The trend is expected to continue over the foreseeable future, which in turn is projected to positively impact growth of the global foam blowing agents market. The medical industry has witnessed rapid growth in the recent past, characterized by various technological advancements. Also, an upturn in the global trade has brought a surge in the demand for safe and reliable packaging of products, which requires foam-based polymers due to their shock absorbing nature. Therefore, the strengthening packaging and medical devices industries are together expected to boost the global market growth during the forecast period.

Foam Blowing Agents Market Outlook – Rising living standards drive the global market growth

Rising living standards of people across the globe consequently contribute towards growth of end-use industries of foam blowing agents. Apart from this, in recent years, increase in purchasing power parity (PPP) has helped in the development of the flooring and furnishing industry, which demands polymeric foams for shock absorption. Thus, increased adoption of polymeric foams is projected to boost the global market growth.

Reduction of greenhouse emissions a key focus areas of players in the global foam blowing agents market

The global foam blowing agents market is largely being driven by the constant advancements in technology. For instance, Chemours Company came up with Opteon™ 1100 foam blowing agent and BASF SPRAYTITE® foam insulation technologies, which ensure exceptional thermal insulation performance as well as reduced energy usage. These technologies also offer benefits such as reduction in greenhouse gas emissions and reducing environmental footprint.