LONDON--(BUSINESS WIRE)--The global blowing agents market is expected to post a CAGR of over 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growth of the construction and automotive industries in APAC. In countries such as China and India, the governments are taking initiatives to encourage the development of infrastructure, which is driving the growth of the construction industry in APAC. Along with this, the increasing industrialization, urbanization, and the purchasing power of buyers are facilitating the expansion of the construction industry. In the construction industry, blowing agents are used in the manufacturing of plastics that are used in the production of cables and wires. Blowing agents are also used to manufacture plastics for the flooring and furnishing industry.
This market research report on the global blowing agents market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing alternatives to HFCs and HCFCs as one of the key emerging trends in the global blowing agents market:
Global blowing agents market: Increasing alternatives to HFCs and HCFCs
HCFCs are stable and unreactive. They are mainly used as an alternative for CFCs as their chemical structure is very similar. The HCFC-141b is widely used as a cleaning agent and a solvent agent. But its production has stopped because such types of HCFCs deplete the stratospheric ozone, as they have high GWP. They also produce adverse health effects. Therefore, many countries have started banning the use of HCFCs.
“HFCs are made up of hydrogen, carbon, and fluorine atoms. They are nonflammable and nonreactive in nature. They are used as blowing agents in the manufacturing of polymers for the foaming process. Further, HFCs are used in many applications such as air conditioning, refrigeration, fire extinguishing, and solvent cleaning,” says a senior analyst at Technavio for research on human machine interface.
Global blowing agents market: Segmentation analysis
This market research report segments the global blowing agents market by applications (polyurethane, polystyrene, polyolefins, and phenolic foams) and geographical regions (APAC, EMEA, and the Americas).
The polyurethane segment held the largest market share in 2017, accounting for nearly 48% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 49% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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