Blowing Agent Market by Product Type, Chemistry, Foam Type, Application

List of Tables

[196 Pages Report] The Blowing Agent Market size was estimated at USD 1.70 billion in 2023 and expected to reach USD 1.81 billion in 2024, at a CAGR 6.84% to reach USD 2.70 billion by 2030.

A blowing agent is a substance that produces a cellular structure in various materials, commonly plastics and rubber, through a foaming process. These agents are crucial in the production of foamed materials, allowing them to be lightweight, provide insulation, and enhance their strength. The expansion in the use of blowing agents is driven by the growing demand in key industries such as construction, where thermal and acoustic insulation are essential, and in automotive manufacturing, where weight reduction is critical for improving fuel efficiency and reducing emissions. However, there are several challenges associated with blowing agents, particularly those that are chemical-based. The potential release of harmful gases during their production and use, as well as regulatory pressures to minimize carbon footprints, pose significant hurdles for manufacturers. Despite these issues, the development of bio-based blowing agents is expected to present opportunities for manufacturers and drive future market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.70 billion
Estimated Year [2024]	USD 1.81 billion
Forecast Year [2030]	USD 2.70 billion
CAGR (%)	6.84%

Regional Insights

The market for blowing agents in the Americas is experiencing moderate growth, largely driven by the expansion in the construction and automotive sectors, which extensively use foamed products. Environmental regulations, particularly in North America, are pushing for eco-friendly, low-global-warming-potential (GWP) blowing agents. This regulatory environment is influencing the market, guiding companies to innovate and adapt to these greener alternatives. Europe shows a strong trend toward sustainable products, having a regulatory environment similar to the Americas with stringent environmental compliance. This region is witnessing a gradual transition to alternatives with lower environmental impact. The Middle Eastern and African markets are showing steady growth fueled by increasing industrial and construction activities demanding more traditional blowing agents. Asia-Pacific is the dynamic and fastest-growing market for blowing agents. This growth is propelled by rapid industrialization and urbanization, particularly in countries including China and India. The manufacturing bases for appliances, automotive, and construction industries in APAC use substantial quantities of blowing agents.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Blowing Agent Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising use of blowing agents to manufacture polymeric foam
- Increasing adoption in packaging of consumer goods and electronics
- Growing automotive sales and demand for lightweight vehicle parts

Market Restraints
- Fluctuating costs of raw materials and rising cost of production

Market Opportunities
- Emergence of advanced technologies to develop blowing agent
- Rapid shifting toward environment-friendly blowing agents

Market Challenges
- Environmental impacts associated with blowing agents

Market Segmentation Analysis
- Product Type: Growing adoption of hydrofluoroolefins owing to their favorable environmental nature
- Application: Emerging applications of blowing agents in green buildings and sustainable construction activities

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Blowing Agent Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Blowing Agent Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Solvay Unveils Innovative Blowing Agent Production Facility in Italy

Solvay S.A. has inaugurated a state-of-the-art production unit in Italy for Alve-One, their latest generation of blowing agents. Alve-One blowing agents, developed as alternatives to traditional chemical foaming agents, align with global environmental standards and offer enhanced performance in producing foamed materials. This strategic move strengthens Solvay's product portfolio and contributes to reducing environmental impact, supporting industries including construction, automotive, and packaging in achieving greener operations. [Published On: 2024-04-18]

Al-Essa Selects Honeywell's Solstice Liquid Blowing Agent

Honeywell recently unveiled a significant partnership with Saudi Arabia's Al-Essa Industrial Company, integrating its eco-friendly Solstice liquid blowing agent (LBA) into the manufacturing process of the latter's appliance insulation. This transition supports Al-Essa's sustainability objectives and enhances the local manufacturing landscape's compliance with escalating global environmental regulations. [Published On: 2023-08-02]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Blowing Agent Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Blowing Agent Market, highlighting leading vendors and their innovative profiles. These include Ajanta Group Of Industries, Arkema Group, BASF SE, DuPont de Nemours, Inc., EIWA CHEMICAL IND. CO.,LTD by Mitsubishi Gas Chemical Company, Inc., ExxonMobil Corporation, Guangzhou Jiangyan Chemical Co., Ltd, Hangzhou Mei Wang Chemical Co., Ltd, HCS Group GmbH, Henan Jinhe Industry CO.,LTD, Honeywell International Inc., Huntsman International LLC, J B Industries, KibbeChem, Inc., Kumyang Co., Ltd., Lanxess AG, Linde PLC, Milliken & Company, Shandong Repolyfine Chemical Co., Ltd, Shouguang Nuomeng Chemical Co., Ltd., Sinochem Holdings Corporation Ltd., Solvay SA, Sundow Polymers Co., Ltd, and The Chemours Company.

Market Segmentation & Coverage

This research report categorizes the Blowing Agent Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product Type
- Hydrocarbons
- Hydrochlorofluorocarbons
- Hydrofluorocarbons
- Hydrofluoroolefins

Chemistry
- Chemical
- Physical

Foam Type
- Phenolic Foam
- Polyethylene Foam
- Polypropylene Foam
- Polystyrene Foam
- Polyurethane Foam

Application
- Automotive
- Bedding & Furniture
- Building & Construction
- Packaging

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-501246436B25

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising use of blowing agents to manufacture polymeric foam
  - 5.1.1.2. Increasing adoption in packaging of consumer goods and electronics
  - 5.1.1.3. Growing automotive sales and demand for lightweight vehicle parts
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating costs of raw materials and rising cost of production
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of advanced technologies to develop blowing agent
  - 5.1.3.2. Rapid shifting toward environment-friendly blowing agents
- 5.1.4. Challenges
  - 5.1.4.1. Environmental impacts associated with blowing agents
5.2. Market Segmentation Analysis
- 5.2.1. Product Type: Growing adoption of hydrofluoroolefins owing to their favorable environmental nature
- 5.2.2. Application: Emerging applications of blowing agents in green buildings and sustainable construction activities
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Blowing Agent Market, by Product Type

6.1. Introduction
6.2. Hydrocarbons
6.3. Hydrochlorofluorocarbons
6.4. Hydrofluorocarbons
6.5. Hydrofluoroolefins

7. Blowing Agent Market, by Chemistry

7.1. Introduction
7.2. Chemical
7.3. Physical

8. Blowing Agent Market, by Foam Type

8.1. Introduction
8.2. Phenolic Foam
8.3. Polyethylene Foam
8.4. Polypropylene Foam
8.5. Polystyrene Foam
8.6. Polyurethane Foam

9. Blowing Agent Market, by Application

9.1. Introduction
9.2. Automotive
9.3. Bedding & Furniture
9.4. Building & Construction
9.5. Packaging

10. Americas Blowing Agent Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Blowing Agent Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Blowing Agent Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Solvay Unveils Innovative Blowing Agent Production Facility in Italy
- 13.3.2. Al-Essa Selects Honeywell's Solstice Liquid Blowing Agent
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio