FOAM BLOWING AGENTS MARKET ANALYSIS

Regional Analysis

Geographically, Asia Pacific has been the largest contributor to the global foam blowing agents market. The market growth can be owed to substantial infrastructural development, which helped the construction industry to expand in the region, especially in India, Thailand, South Korea and Vietnam; technological advancements and rapid industrialization. However, high costs associated with shifting technology, along with rampant changes in the United States Environmental Protection Agency (EPA), is looking at significant new alternatives policy (SNAP) in the foam blowing agents such as introduction of fourth-generation blowing agent, AFA series and urethane foams, among others, which will replace the use of HCFC and HFC. It has taken effect since January 1, 2017, which in turn would restrain growth of the market of foam blowing agents.