The global blowing agent market size is estimated at USD 1.4 billion in 2021 and is projected to reach USD 1.9 billion by 2026, at a CAGR of 6.5%, between 2021 and 2026. Blowing agents are defined as chemical substances capable of producing pores or cells in polymeric compositions. They are used widely in generating gas to expand rubber, plastics, and ceramics to create foams. They are highly utilized materials for manufacturing different types of polymeric foams to achieve specific properties and enhancing the nature of polymer parts.
HC is expected to be the most significant type of blowing agent used globally in terms of volume. HC blowing agent is widely used in varied foam applications owing to its low ODP and GWP properties. The growth of the HC blowing agent is supported by the increasing usage of oxygenated hydrocarbons, such as methyl formate, in integral skin and polystyrene foams applications. The growing demand for vacuum panels in combination with hydrocarbon blown foams to increase energy efficiency in the appliances industry, which increases the consumption of HC blowing agents.
The key players in the blowing agents market are Honeywell International Inc. (US), Solvay SA (Belgium), Arkema SA (France), Exxon Mobil Corporation (US), Linde plc (UK), Daikin Industries, Ltd. (Japan), The Chemours Company (US), Haltermann Carless (Germany), Foam Supplies, Inc. (US), Harp International Ltd. (UK).
