The global Blowing Agents market is expected to grow at a steady CAGR of 5.42% during the forecast period until 2030.
Blowing agents are chemical additives that release gases during the processing of thermoplastics. In other words, when put through a foaming process, blowing agents have the ability to create a cellular structure. Blowing agents can be found in all the three forms: liquid, gas, and solid. Blowing agents are of two types namely Physical Blowing Agents and Chemical Blowing Agents. Physical blowing agents include Hydrochlorofluorocarbons (HCFCs), Hydrofluorocarbons (HFCs), Hydrocarbons (HCs), Hydrofluoroolefin (HFO) and others physical blowing agents impart cellular structures without any chemical reaction. Chemical Blowing Agents undergo decomposition at certain temperatures and release gases like Nitrogen and Carbon dioxide in the polymer matrix to which they are added and form cellular structures within the polymer matrix. They are added to the polymer material while processing.
In the process they form cellular structures in the polymer material thereby creating foamed structures and reducing the weight of the polymer. Chemical blowing agents can be classified as exothermic and endothermic depending upon the heat released or added in the extruder while processing the polymer material. Most important exothermic Chemical Blowing Agent is Azodicarbonamide (ADC) which releases Nitrogen and Ammonia and generates heat upon decomposition and endothermic Chemical Blowing Agents are Sodium Bicarbonate, Ammonium Bicarbonate and Sodium Borohydrate which release Carbon Dioxide upon decomposition and cools the system. Blowing Agents impart several properties to the polymer material including weight reduction, thermal insulation, sound insulation, impact strength etc. hence they have application in various industries requiring light weight foamed polymer materials such as automotive, construction, furniture, packaging, electronics, and others. The primary factor driving the market growth rate is an increase in demand from the automotive sector. The market's growth rate will be directly and favorably impacted by increasing industrialization and increased on technical upgrades and developments. A spike in building and construction activities together with the growth and expansion of the manufacturing sector is anticipated to further pave the way for the market's progress.
Based on region, Asia Pacific is dominating the market because of the development and expansion of numerous end-user industries in this area, growing industrialization, and increased manufacturing of polymer foams. This region is anticipated to retain this position in the forthcoming years as well. Moreover, Asia Pacific also leads in terms of producing Blowing Agents, with China being the key player.
Based on the end-user industry, the global Blowing Agents market is segmented into Automotive, Construction, Furniture, Packaging, Electronics, and Others. Among these, automotive sector is leading the market followed by the Construction sector.
Major players in the global Blowing Agents market are Honeywell International Inc., Exxon Mobil Corporation, Linde, Arkema, JingJiang Hangsun Plastic Additives, Harp International Ltd., ZEON CORPORATION, DuPont, HCS Group, Linde plc, INEOS Group, and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Blowing Agents which covers production, demand and supply of Blowing Agents market in the globe.
• To analyse and forecast the market size of Blowing Agents
• To classify and forecast Global Blowing Agents market based on end-use and regional distribution.
To extract data for Global Blowing Agents market, primary research surveys were conducted with Blowing Agents manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Blowing Agents market over the coming years.
ChemAnalyst calculated Blowing Agents demand in the globe by analyzing the historical data and demand forecast which was carried out considering the supply and demand of Blowing Agents across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Blowing Agents manufacturers and other stakeholders
• Organizations, forums and alliances related to Blowing Agents distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Blowing Agents manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Blowing Agents market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Growth Rate
CAGR of 5.42% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of blowing agents market in terms of value and volume.
2. Demand by Type
Learn about the various types- Hydrochlorofluorocarbons (HCFCs), Hydrofluorocarbons (HFCs), Hydrocarbons (HCs), Hydrofluoroolefin (HFO) Azodicarbonamide (ADC), Sodium Bicarbonate, Ammonium Bicarbonate, Sodium Borohydrate, Others, and their demands. It will allow you to choose which type to concentrate on when designing your strategy.
3. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Automotive, Construction, Furniture, Packaging, Electronics, and Others) are creating a market and the forecast for the growth of the Blowing Agents market.
4. Demand by Region
Analyzing the change in demand of Blowing Agents in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
5 Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Blowing Agents. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
6. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Blowing Agents.
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What is the expected CAGR of growth of global market size of Blowing Agents in terms of volume for 2030?
Ans:
The global market size of Blowing Agents is expected to grow at an expected CAGR of 5.42% by 2030.
Q2.
What region is dominating the Blowing Agents market?
Ans:
As of 2022, Asia Pacific region is dominating the Blowing Agents Market.
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