VATIS UPDATE Article

The global foam blowing agents market was valued at 332,690.0 metric tons in 2014, and it is expected to grow with a CAGR of 5.3% during 2015-2020. The factors driving the growth of the global market include increasing demand for polymeric foams in construction and automotive industries and high demand for foam blowing agents in the manufacturing of polyurethane foam. Polyurethane foam is the most commonly utilized polymer foam, due to its large base of end-user industries such as automotive, building and construction, electronics, flooring, furnishings, medical devices, and packaging.

In 2014, the Asia-Pacific market held the largest share in the global foam blowing agents market, in terms of value and volume. In terms of volume, Asia-Pacific foam blowing agents market is expected to witness the fastest growth (6.3% CAGR) globally, during 2015-2020. The major reasons behind the sustained growth in the region are increasing consumption of blowing agents in China and growing base of end-use industries of polymer foams.

However, the increasing international pressure of reducing the consumption of Hydrofluorocarbons (HFCs) and HCFCs would hinder the growth of the Asia-Pacific foam blowing agents market to some extent. The hydrocarbon product segment of the global foam blowing agents market is expected to witness 7.1% CAGR, in terms of volume, during 2015-2020. Based on application of foam blowing agents, the polyurethane (PU) foam segment is expected to witness 5.5% CAGR globally, in terms of volume, during 2015-2020.