+1-888-308-5802     
News Contact Us

New Study Foam Blowing Agents Market 2016-2024 Industry Trends & Forecast

Author : Ronak Bora | Published Date : 2019-05-08 

The Foam Blowing Agents Market is set to grow from its current market value of more than $600 million to over $1.1 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Surging demand for polymeric foam and the massive usage of foam blowing agents in its manufacturing process will augment Foam Blowing Agents Market size. These agents are essentially used to provide a firm cellular structure to foam substrates, subject to the numerous benefits they provide, such as less product weight, high acoustic insulation, reduced material usage, and excellent thermal insulation. They are also used in methylal, methyl formate, and other eco-friendly products, which will impel foam blowing agents industry size.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1123

Of late, the demand for polymeric foam has observed an increase across the construction and appliance sectors. Foam blowing agents are widely used in the manufacturing process of polymeric foam, which is expected to enhance the growth of foam blowing agents industry. In addition, the extensive growth of polyurethanes (PU) market and other product based foam industries is expected to generate lucrative opportunities for market players. The increasing application of polymeric foams across the rapidly developing flooring market will also propel foam blowing agents industry, slated to cross a revenue of USD 1.1 billion by 2024, growing at a CAGR of 7% over 2016-2024.

Foam blowing agents find extensive applications across the polyurethane, polyolefin, and polystyrene industries. They are used to manufacture polyurethane foams that find applications across the flooring, construction, automotive, packaging, furnishing, hospitality, and medical devices sectors. Pertaining to the enhanced lifestyles and spending capabilities of consumers, foam blowing agents market size from polyurethane applications is expected to grow significantly over 2016-2024. Polystyrene and PU applications together accounted for a share USD 450 million in foam blowing agents industry in 2015.

Subject to the rapidly advancing automotive, medical, and hospitality sectors, Europe foam blowing agents market, despite being at an initial stage of development, will grow at a substantial growth rate over the years to come. The regional market contributed to more than 15% of the overall industry in 2015.

Speaking along similar lines, hydrocarbons, a key product of foam blowing agents industry, is heavily deployed in polyurethane foaming across the appliances, construction, hospitality, automotive, and flooring sectors, subject to which they contributed to more than 50% of the total revenue in 2015.  Foam blowing agents market share from hydrocarbons was worth USD 200 million in 2015, is anticipated to grow at a rate of 7% over 2016-2024.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1123

Foam blowing agents are massively deployed in the polyolefins industry, in fact, experts claim that polyolefin applications are set to revolutionize foam blowing agents market by 2024. These applications are deployed across the packaging sector subject to the product’s property of shock absorbency. Foam blowing agents market share from polyolefins applications was worth USD 90 million in 2015 and is expected to grow remarkably over the coming timeframe.

Asia Pacific accounted for substantial demand in 2015 with nearly 50% foam blowing agents market share. Improving medical infrastructure across India and China makes APAC a high growth potential region in the coming years. Regional revenue is likely to cross USD 550 million by 2024 on account of robust automotive production and sales growth due to improved consumer lifestyle dynamics.

U.S. market could be valued at more than USD 100 million by 2024. Well-established healthcare industry, consumer awareness regarding medical devices and improved living standards are the factors favoring market demand.

In 2015, the global foam blowing agents market share was consolidated. The key industry players accounted for more than half of the market share. Some of the major industry contributors are AkzoNobel N.V., Haltermann GmBH, Honeywell International Inc., Solvay S.A., Exxon Mobil Corporation, Sinochem Group, ZEON Corporation, Daikin Industries Ltd, Arkema S.A., E. I. du Pont de Nemours and Company. Major companies the industry have multiple presence across various stages of the value chain, which makes the industry highly competitive.

Browse key industry insights spread across 110 pages with 144 market data tables & 13 figures & charts from the report, “Foam Blowing Agents Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/foam-blowing-agents-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Europe Automotive Turbochargers Market to witness highest growth rate during forecast period

Published Date: 2019-05-24         Author: Ronak Bora

Europe automotive turbochargers market will grow considerably over the study timeframe. This can be credited to the presence of major automobile companies adopting turbocharging technologies across their product portfolio. Automotive turbochargers market for PCVs accounted for a revenue share of ... Read More

Asia Pacific Automotive Relay Market Size to grow at over 4.5% CAGR To 2024

Published Date: 2019-05-24         Author: Ronak Bora

High demand of automotive PCB relays in Asia Pacific and Europe has induced an immense potential to the automotive relay market size. Stringent government regulations in Europe regarding incorporation of safety features into vehicles, replacement of obsolete technologies, and fuel efficiency standar... Read More

Asia Pacific Power Sports Market to grow at over 4.5% CAGR To 2025

Published Date: 2019-05-24         Author: Ronak Bora

Asia Pacific power sports market share will showcase significant growth over the forecast timeframe. The growth can be credited to the increasing awareness about off-roading events among youth coupled with rising disposable income across the region. The proliferating presence of industry players to ... Read More

© 2019 Fractovia. All Rights Reserved