The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

• Strong Market Growth
  • Foam blowing agents market size to grow from $1.57 billion in 2023 to $1.67 billion in 2024.
  • Compound annual growth rate (CAGR) of 6.2%.
• Drivers of Growth
  • Demand for foam blowing agents in consumer appliances.
  • Superior shock-absorbing capabilities in refrigerators and household appliances.
• Projection for Air Conditioners
  • Energy Information Administration forecasts 5.6 billion air conditioners worldwide by 2050.
  • Growing demand driving market growth.

View More On The Foam Blowing Agents Market Report 2024 – https://www.thebusinessresearchcompany.com/report/foam-blowing-agents-global-market-report

Major Foam Blowing Agent Companies Join Forces For Increased Production Capacity Of HFO-1233Zd

• Strategic Partnerships for Production Capacity
  • Focus on increasing capacity of insulation foam blowing agents.
  • Example: Arkema partnering with Aofan to develop Forane® 1233ZD supply.
• Expansion Plans
  • Plans to increase production capacity of hydro-fluoro olefin 1233zd in China and the US.

Strategic Acquisition Reinforces Industry Presence

• Acquisition: Wm. T. Burnett & Co. Acquires Flex Foam
  • Burnett & Co. acquires Flex Foam to strengthen presence in the polyurethane industry.
  • Flex Foam known for manufacturing quality urethane products, including foam blowing agents.

Market Segmentation

• Product Type
  • Hydrocarbons (HCs)
  • Hydrofluoroolefin (HFO)
  • Hydrofluorocarbons (HFCs)
  • Other Product Types
• Foam Type
  • Polyurethane Foam
  • Polystyrene Foam
  • Phenolic Foam
  • Polypropylene Foam
  • Polyethylene Foam
  • Other Foam Types
• Application
  • Building and Construction
  • Automotive
  • Bedding and Furniture
  • Appliances
  • Packaging
  • Other Applications

Regional Outlook: Asia-Pacific Leads

• Asia-Pacific
  • Largest region in the foam blowing agents market in 2023.
  • Continues to lead the market in terms of growth potential.

Conclusion

The foam blowing agents market is witnessing strong growth, primarily driven by the demand from the consumer appliances industry. With increasing usage of foam blowing agents in refrigerators and household appliances, the market is experiencing significant expansion. Strategic partnerships among major companies to enhance production capacity, along with acquisitions to reinforce industry presence, are shaping the market landscape. Market segmentation allows for a comprehensive understanding of product types, foam types, and applications, catering to diverse industry needs. As Asia-Pacific emerges as a key player in the foam blowing agents market, it signifies a shift in global dynamics, offering ample opportunities for growth and innovation. With a focus on sustainable practices and technological advancements, the future of the foam blowing agents market looks promising, with continued growth anticipated in the coming years.

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The Foam Blowing Agents Global Market Report 2024  provides comprehensive insights on the foam blowing agents market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the foam blowing agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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