Foam Blowing Agent Market Expected to Reach Up To $1,879.0 Million and Rise at a CAGR of 9.1% from 2019 to 2026

As per a Research Dive published report, the global foam blowing agent market is estimated to rise at a CAGR of 9.1% and surpass $1,870.0 million over the forecast period from 2019 to 2026.

The global market is segmented based on product, application, and region. The global market is segmented based on source, plant parts, and region. The report offers comprehensive insights on drivers, challenges, restraints, opportunities, and key players of the market. Our analysts have stated that the versatile applications and increasing demand for foam blowing agents from automobile sector are the significant factor expected to boost the growth of the global foam blowing agent market. Moreover, the hydrofluoroolefin (HFO) foam blowing agent are increasingly reactive in the atmosphere as it contains at least one carbon-carbon double bond, which slightly impacts the environment and thus predicted to create lucrative opportunities for the growth of global market by 2026. However, stringent environmental policies and higher costs associated with foam blowing agent are likely to hamper the market growth in the near future.

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Hydrocarbons Segment to be Most Lucrative in the Forecast Period

By product, the global industry is categorized into hydrocarbons, hydrochlorofluorocarbons (HCFC), and hydrofluorocarbons (HFC0). Among these, the hydrocarbons segment is projected to witness a significant growth throughout the estimated timeframe mainly because hydrocarbons have a vital role in the polyurethane foam production, which has further applications in various end-use industries such as construction, automotive, and appliances.

Polyurethane Segment to Hold Largest Market Share by 2026

By application, the global market for foam blowing agent is trifurcated into polystyrene, polyurethane, and polyolefin. Among these, the polyurethane segment is estimated to account for majority of share in the global market by 2026 mainly due to superior properties of polyurethane such as thermal conductivity and low density, which makes them excellent thermal insulators.

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North America Region to Subjugate the Industry During Forecast Period

Based on region, the global industry is divided into Europe, LAMEA, Asia Pacific, and North America. Of these, the North America foam blowing agents market is projected to have a dominant position in the global industry throughout the forecast period. The dominance of this region is majorly attributed to rise in air pollution, global warming, and ozone layer depletion.

Prominent Industry Players

The major players functioning in the global foam blowing agent market include Akzo Nobel N.V., Sinochem Group Co., Ltd., Zeon Corporation, Dainik Industries, Ltd., HCS Group, Arkema S.A., Honeywell International Inc, Solvay, Exxon Mobil Corporation, and DuPont.

These players are adopting several strategies such as mergers & acquisitions, product developments, and novel product launches to obtain a strong position in the global industry. Further, the report outlines ad presents several aspects of these key players such as recent strategic moves & developments, product portfolio, SWOT analysis, and financial performance.

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This release was published on openPR.