Foam Blowing Agents – Market Growth and Forecasts by Technavio

August 28, 2017

LONDON–(BUSINESS WIRE)–#Research—Technavio
market research analysts forecast the global
foam blowing agents market to grow at a CAGR of more than 5% during
the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the
global foam blowing agents market for 2017-2021. The report also
lists polyurethane (PU), polystyrene (PS), polyolefins (PO), as the
three major application segments, of which the PU segment accounted for
47% of the market share in 2016.

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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global foam blowing agents market:

Growing demand from the automotive and construction industries
Increasing use of PU foams in sandwich panels
Methylal used as an alternative to foam blowing agents

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Growing demand from the automotive and construction industries

The global automotive industry has been growing at nearly a rate of 3.5%
and is registering an increase in the demand for foam blowing agents.
Foam blowing agents are widely used in the production of different
automotive parts such as side skirts, wiper cowls, roll pans, and
bumpers. The market is expected to register a growth during the forecast
period because of the increasing demand for vehicles.

According to Hitesh Bhatia, a lead analyst at Technavio for specialty
chemicals research, “The increase in the application of foam
blowing agents in the construction industry is also one of the major
driving factors for the market. The increasing demand for housing,
hospitality, flooring material, and effective sound furnishing is
expected to increase the requirement for foam blowing agents during the
forecast period.”

Increasing use of PU foams in sandwich panel

Sandwich panels have been growing mainly in telecom shelters, cold
chain, and industrial buildings. Huntsman International is one of the
leading suppliers of PU chemicals for sandwich panel manufacturers
across the world. The emerging economies in Europe such as Russia and
other Eastern European countries are currently facing huge growth for
sandwich panels with many new laminators being used. The main advantages
of PU-cored sandwich panels are lightweight construction, excellent
thermal insulation, and rapid and economical construction technique.

“The main applicational of sandwich panels is in industrial and
commercial buildings such as roof cladding and wall cladding which
accounts for nearly 80% of the total sandwich panels manufactured.
Another application is in the cold storage industry such as refrigerated
warehouses and cold storage units that account for nearly 15% of the
total market,” says Hitesh.

Methylal used as an alternative to foam blowing agents

Methylal is used as one of the substitutes for HCs and HFCs in the
manufacturing of PU foams. Methylal is a colorless, clear, flammable
liquid with a sweet odor and a relatively low boiling point. It is
generally used as a solvent in the manufacture of adhesives, perfumes,
resins, paint strippers, and protective coatings. It is moderately
soluble in water, i.e., more than 30% by weight and miscible with most
common organic solvents.

Use of methylal will enhance the global foam
blowing agents market during the forecast period. This is because of
the regulations that are driving the market in the US, Europe, and other
emerging countries to ban HCFCs, which are harmful to the environment
and people.

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