Foam Blowing Agents Market Size

Foam Blowing Agents Market Size

Foam Blowing Agents Market size was valued at over USD 600 million for 2015 and will grow at over 7% CAGR through 2024. Increasing foam usage in the construction industry is likely to bolster the market during the forecast period./p>

Flourishing polystyrene, polyurethane, and other product-based foam businesses are driving the foam blowing agents market. Foam blowing agents find applications in polymeric foam manufacturing to enhance the desired foam properties. The demand for polymeric foam is increasing due to its usage in the construction and appliances industry./p>

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The construction sector has witnessed a moderate growth in the past five years and is likely to grow significantly in the next few years. The global population growth and a rise in average disposable incomes have further boosted the construction industry in Vietnam, China, India, Malaysia, and Indonesia. Polymeric foams are extensively used in building and construction sectors./p>

Improved living standards and rise in purchase power parity have developed flooring and furnishing industry in recent years. The booming hospitality sector is demanding an exceptional quality of flooring material and aesthetically sound furnishing. Polymeric foams are used in flooring and furnishing for shock absorption and to give a high-quality aesthetic appearance. The foam blowing agents market will witness a promising growth in the flooring and furnishing industry owing to the increasing adoption of polymeric foams./p>

Polymeric foams have applications in the medical devices and packaging sector and other emerging applications. Technological advancements and rapid medical industry growth have boosted the demand for medical devices. An increase in the global trade has stimulated the need for safe and reliable packing of products for their transit. Packaging is mostly done using foam-based polymers owing to their shock absorbing nature. Thus, the growth in medical devices and packaging business is contributing to the foam blowing agents market growth.