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Foam Blowing Agents Market Size from hydrocarbons segment to grow at 7% CAGR till 2024

Author : Ronak Bora | Published Date : 2019-08-06 

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. Speaking along similar lines, hydrocarbons, a key product of foam blowing agents market, 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 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.

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Rising product demand from the packaging and industry medical devices is likely to propel the market growth in the forecast period. The medical devices industry was over USD 300 billion, in 2016 and bears brighter future aspects owing to the increasing consumer health consciousness and their rising spending towards health. This presents growth opportunities for product market, especially for packaging during transport.

PU and polystyrene foam blowing agents generated revenue over USD 450 million in 2015. PU foam will exhibit higher growth rate among the other application segments, for its growing demand from interior decoration and automobile industry.

Polyolefins segment generated over USD 90 million revenue in 2015 and has been witnessing a significant adoption in packaging industry. The ever-growing global trade has encouraged the need for safe and reliable packing of products for their transit. The product will have a significant growth during the forecast period for its shock absorbent packing capability.

Asia Pacific had nearly 50% share for foam blowing agents market in 2015. Developing medical infrastructure, technological advancements and robust automotive production in the emerging economies like China and India will complement the regional growth. The regional revenue is probable to surpass USD 550 million by 2024.

U.S. market for foam blowing agents is likely to reach USD 100 million during the forecast period. Deep-rooted regional healthcare industry, high awareness among consumers regarding improved living standards and medical devices are the factors supporting market demand.

Germany has recently witnessed an adoption of high grade medical devices subject to the growing healthcare sector. In addition, the highly developed automotive sector across the region will also lead to the growth of polyurethane and polyolefins industries, which will impel foam blowing agents market.

Of late, foam blowing agents market has been witnessing a revolution of sorts, with the introduction of non-flammable and non-toxic foam blowing agents. Worldwide foam blowing agents industry is rather consolidated, with the market share being distributed amidst the top few players. Key participants operating in this market include Honeywell, Sinochem Group, ZEON Corporation, Arkema S.A., Exxon Mobil Corporation, Solvay S.A., AkzoNobel N.V., DuPont, Haltermann GmbH, and Daikin Industries Ltd.

Glimpse of Table of Content (ToC)

Chapter 4    Foam Blowing Agents Product Insights

4.1    Foam blowing agents market share by product, 2015 & 2024

4.2    Hydrocarbons

4.2.1    Global market estimates and forecast, 2013 - 2024

4.2.2    Global market estimates and forecast, by region, 2013 - 2024

4.3    Hydrofluorocarbons

4.3.1    Global market estimates and forecast, 2013 - 2024

4.3.2    Global market estimates and forecast, by region, 2013 – 2024

4.4    Hydroclorofluorocarbons

4.4.1    Global market estimates and forecast, 2013 - 2024

4.4.2    Global market estimates and forecast, by region, 2013 – 2024

4.5    Others

4.5.1    Global market estimates and forecast, 2013 - 2024

4.5.2    Global market estimates and forecast, by region, 2013 - 2024

Chapter 5  Foam Blowing Agents Applications Insights

5.1   Foam blowing agents market share by product, 2015 & 2024

5.2   Polyurethane

5.2.1    Global market estimates and forecast, 2013 - 2024

5.2.2    Global market estimates and forecast, by region, 2013 - 2024

5.3   Polystyrene

5.3.1    Global market estimates and forecast, 2013 - 2024

5.3.2    Global market estimates and forecast, by region, 2013 – 2024

5.5   Polyolefins

5.5.1    Global market estimates and forecast, 2013 - 2024

5.5.2    Global market estimates and forecast, by region, 2013 – 2024

5.6   Others

5.6.1    Global market estimates and forecast, 2013 - 2024

5.6.2    Global market estimates and forecast, by region, 2013 - 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/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

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