Blowing Agent Market Share, Size, Trends, Industry Analysis Report, By Product (Hydrochlorofluorocarbons (HCFC), Hydrofluorocarbons (HFC), Hydrofluoroolefin (HFO), Hydrocarbons (HC), Others); By Foam; By Application; By Region; Segment Forecast, 2024 - 20

Blowing Agent Market Share, Size, Trends, Industry Analysis Report, By Product (Hydrochlorofluorocarbons (HCFC), Hydrofluorocarbons (HFC), Hydrofluoroolefin (HFO), Hydrocarbons (HC), Others); By Foam; By Application; By Region; Segment Forecast, 2024 - 2032

The global blowing agent market size is expected to reach USD 2.29 billion by 2032, according to a new study by Polaris Market Research. The report “Blowing Agent Market Share, Size, Trends, Industry Analysis Report, By Product (Hydrochlorofluorocarbons (HCFC), Hydrofluorocarbons (HFC), Hydrofluoroolefin (HFO), Hydrocarbons (HC), Others); By Foam; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global blowing agents’ market is growing due to rising need for efficient thermal insulation properties and adhesive characteristics. They are widely used in the construction, driven by economic development and population growth. For instance, BASF, expanded production of key blowing agent components like poly-ether-amines, surged the rising demand in construction and other industries. Furthermore, technological advancements and the growing need for fuel efficient vehicles have upsurged in the global automotive production.

Moreover, there is introduction of blowing agents with better performance features like increased thermal conductivity, enhanced fire resistance, and increased processing efficiency. For instance, in February 2024, Dow, launched a technology employing CO2 as a blowing agent in polyurethane foams offering a best option for environmentally friendly insulation solutions.

Recently, there has been a significant surge in demand for environmentally sustainable blowing agents, a trend expected to project in the future. Environmental awareness and government regulations have enforced the usage of eco-friendly blowing agents. As a result, regarding climate change, consumers focus has shifted towards environmentally sustainable blowing agents, thereby opening up new opportunities for market players. For instance, in May 2023, Kumyang Europe launched Cellcom KY ECO, a blowing agent with absence of hazardous gases and characterized by complete decomposition into harmless nitrogen.

The blowing agent market industry offers abundant opportunities for small scale manufacturers and startups to innovate cost-effective solutions for product manufacturing. Furthermore, with a broad spectrum of applications each having unique requirements, the blowing agent market accommodates diverse demands. Large organizations overlook niche markets agile startups concentrate on crafting blowing agents customized for these specialized applications. This approach could potentially deliver more economical solutions to meet specific needs.

Blowing Agent Market Report Highlights

Hydrofluoroolefin (HFO) segment is anticipated to have highest growth rate, due to increasing research and development activities.

Building & construction segment accounted for the largest market, as they enhance building efficiency with tight insulation, and lower energy consumption.

Polyolefins segment is projected to experience a larger revenue share due to rise of the packaging industry.

Asia Pacific is projected to register the fastest growth during the forecast period, attributable to significant base of end-user industries.

The global players include Honeywell International, Solvay, Arkema, Linde, Daikin Industries, Chemours Company, Haltermann Carless, & Harp International.

Polaris Market Research has segmented the Blowing Agent market report based on type, foam, application, and region:

Blowing Agent, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Hydrochlorofluorocarbons (HCFC)

Hydrofluorocarbons (HFC)

Hydrofluoroolefin (HFO)

Hydrocarbons (HC)

Others

Blowing Agent, Foam Outlook (Revenue - USD Billion, 2019 - 2032)

Polystyrene Foam

Polyolefin Foam

Polyurethane Foam

Phenolic Foam

Blowing Agent, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Bedding and Furniture

Building and Construction

Appliances

Automotive

Packaging

Others

Blowing Agent, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of APAC

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa