Blowing Agents Market Overview to 2023
The global blowing agents market is majorly driven by the growing demand from the major end-use industries such as automotive, aerospace, and building & construction. Blowing agents provide lightweight nature to the automotive, thereby increasing its efficiency and reducing the emission level. They also provide insulation and cushioning effects and are majorly used for manufacturing seats, plastic interiors, and weather strips. Various environment protection regulations regarding the reduction of harmful emissions such as Bharat Stage Emission Standards (BSES) in India and the Chinese State Environmental Protection Administration (SEPA) are likely to fuel the product demand in the automotive sector. These agents are used in the aerospace industry to manufacture engine turbines as it saves raw material costs and improves quality. Moreover, the lightweight, an added advantage, is propelling their demand in the aerospace industry. The use of blowing agents in the construction sector due to its insulation properties, high mechanical strength, and ability to make thinner structures is expected to fuel the market growth further over the assessment period.
Global Top 10 Key Players
Some of the manufacturers operating in the global blowing agents market are Solvay (Belgium), The Dow Chemical Company (U.S.), INEOS Group (Switzerland), DAIKIN INDUSTRIES, LTD. (Japan), Arkema (France), BASF SE (Germany), SINOCHEM GROUP (China), ZEON CORPORATION (Japan), Harp International Ltd. (U.K), Honeywell International Inc. (U.S.), Exxon Mobil Corporation (U.S.), AkzoNobel N.V. (Netherlands), and The Chemours Company (U.S.).
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- Blowing Agents Manufacturers
- Traders and distributors of Blowing Agents
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
The global blowing agents market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific dominated the global blowing agents market in 2016 owing to high demand for blowing agents from the automotive and construction industry. The increasing demand for lightweight automotive due to increasing environmental concerns is expected to drive the market growth in the region.
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Europe accounted for the second largest market share in the year 2016 on account of the high production and sales of automotive parts in Western European countries. North America is expected to witness a considerable growth on account of the high demand from the reviving construction, automotive, and aerospace industry. Latin America is projected to witness a considerable growth due to growing automotive industry in Mexico, Brazil, and others. The Middle East & Africa is likely to witness significant growth due to the burgeoning infrastructural investments in the GCC countries.
The global blowing agents market is segmented on the basis of the type, product, application, and region. On the basis of the type, the global blowing agents market is segmented into exothermic and endothermic. Based on the product, the global market is segmented into hydrochlorofluorocarbons, hydrofluorocarbons, hydrocarbons, and hydrofluoroolefins. On the basis of the application, the market is segmented into rigid polyurethane, flexible polyurethane, integral skin polyurethane, polystyrene, polyolefin, phenolic, and others.
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