市场调查报告书
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1458425
全球发泡剂市场:依产品类型、应用和地区划分的机会和预测(2017-2031)Blowing Agents Market Assessment, By Product Type, By Application, By Region, Opportunities, and Forecast, 2017-2031F |
2023年全球发泡剂市场规模达20.5亿美元。预计到 2031 年,该市场将成长至 32.9 亿美元,2024-2031 年预测期间复合年增长率为 6.1%。建筑业是全球发泡剂市场中创收最高的领域。全球建筑业组织建筑产品协会Construction Products Association发布的 "Construction Industry Forecasts, 2022-2024" 报告显示,预计2023年全球建筑业将以2.2%的同比增速增长。
在泡沫製造中越来越多地采用发泡剂正在推动全球市场的成长。例如,Arkema正在开发下一代低 GWP 发泡剂解决方案。该公司的 Forane FBA 1233zd 是一种高性能、低 GWP 液体发泡剂,经 SNAP 批准,适用于大多数聚氨酯应用,包括家用电器、商业冷冻、建筑面板和门。该产品也适用于喷涂泡沫、电器绝缘和各种其他应用。
推动建筑活动成长的关键因素包括更重视更新老化的基础设施、增加高层建筑的开发、增加对商业建筑技术的投资、快速的技术创新等。未来,建筑活动的增加将促进氢氯氟碳化合物 (HCFC)、氢氟碳化合物 (HFC) 和碳氢化合物 (HC) 等发泡剂的使用,以确保优质建筑,从而加速市场成长。同样,对电动车的强劲需求以及最近对汽车製造区的投资正在推动汽车生产活动。因此,汽车产量的增加促进了汽车零件和麵板的采用,进而推动了发泡剂市场的成长。
该报告考察了全球发泡剂市场,并提供了市场概况,包括依产品类型、应用、地区和参与市场的公司概况划分的趋势。
Global blowing agents market size was valued at USD 2.05 billion in 2023, which is expected to grow to USD 3.29 billion in 2031 with a CAGR of 6.1% during the forecast period between 2024 and 2031. The building and construction industry is the highest revenue-generating segment for the global blowing agents market. According to the Construction Industry Forecasts, 2022-2024 report published by the Construction Products Association, a global building and construction industry association, the global construction industry will register a year-on-year growth rate of 2.2% in 2023 as opposed to the year 2022.
The increasing adoption of blowing agents in the manufacturing of foams is driving the growth of the market at the global level. For instance, Arkema is developing next-generation foam-blowing agent solutions with low GWP. Their Forane FBA 1233zd is a high-performance, low GWP liquid blowing agent that is SNAP-approved for most polyurethane applications, including residential appliances, commercial refrigeration, construction panels, and doors. The product is also suitable for spray foam, appliance insulation, and various other applications.
The prime elements fuelling the growth of the building and construction activities include growing emphasis on replacing aging infrastructure, increasing development of high-rise buildings, rising investments in commercial construction projects, and rapid technological innovations. Henceforth, the bolstering building and construction activities are fueling the utilization of blowing agents, including hydrochlorofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), and hydrocarbons (HCs) to ensure superior building, thereby accelerating the market growth. Likewise, the robust demand for electric vehicles and the recent investment in the automotive manufacturing zones are driving the production activities related to automotive vehicles. Therefore, the rise in automotive vehicle production is boosting the adoption of automotive parts and panels, which, in turn, is driving the blowing agents market growth.
The shifting consumer preference for environmentally sustainable blowing agents will create a lucrative opportunity for market growth during the projected forecast period. For instance, in April 2021, Kumyang launched Cellcom KY-ECO, the world's first eco-friendly blowing agent that is free from hazardous gases such as HCFCs. This blowing agent is designed to improve the finished good's flexibility, and thermal and acoustic insulation. Nonetheless, the strict regulatory framework associated with the manufacturing of the blowing agents is posing a major bottleneck for the growth of the market.
The Booming Building and Construction Activities is Accelerating the Market
Blowing agents, such as HFCs and HCs, are used in the building and construction industry to generate a cellular structure from liquid plastic resin. The blowing agent functions as an insulating component of the foam in the context of foam used for building insulation. Thus, the blowing agents are ideal for various applications in the building and construction industry, including residential and commercial construction projects. The rapid pace of industrial development in the Asia-Pacific region, increasing public-private partnerships in infrastructure development projects, and recent technology innovations are some of the prominent aspects resulting in the surge in building and construction activities at the global level.
For instance, according to the recent data published by Statistics Canada, a government of Canada office, in July 2023, the Canadian residential construction industry was valued at USD 11.7 billion, and in August 2023, it was USD 11.9 billion, registering a monthly growth rate of 1.6%. In addition, as of December 2023, a wide range of commercial constructions covering shopping malls, mixed-use buildings, and airports are under development at the global level, including Saya Status Shopping Mall in India (project completion year 2026), Markisches Zentrum Redevelopment in Germany (project completion year 2024), and the new terminal at Montreal Saint-Hubert Airport in Canada (project completion year 2025). Hence, booming building and construction activities are boosting the demand for blowing agents to reduce waste, energy consumption, and environmental impact, ultimately resulting in major long-term savings, further proliferating the growth of the market.
Recent Product Innovations Related to Blowing Agents is Amplifying the Market Growth
The increasing demand for environmentally sustainable products that address regulations and reduce emissions is accelerating the development of a new range of blowing agents. The development of blowing agents with lower global warming potential (GWP) and ozone depletion potential (ODP), aligning with global efforts to mitigate climate change is driving the growth of the market.
Furthermore, blowing agents designed to enhance the insulation properties of foam products, contributing to increased energy efficiency in buildings and appliances, are acting as a growth-inducing factor. In line with this, the introduction of blowing agents made of novel compounds and formulations that provide superior thermal insulation, while addressing concerns related to health, safety, and environmental impact, is propelling the market growth. Thus, the recent product innovations associated with the development of a new range of blowing agents are boosting the supply of product, which, in turn, is accelerating the market growth.
Tailoring blowing agent formulations for specific applications, ensuring optimal performance in diverse industries like construction, automotive, and appliances, is further accelerating the market growth. The next generation blowing agents, such as those being developed by Arkema, have low GWP and offer a balance of performance benefits and reduced environmental impact. In addition, innovations in blowing agents can improve the energy efficiency of products, such as appliances, by providing better insulation properties. For example, the Opteon 1100 blowing agent has very low GWP and delivers enhanced thermal performance, helping appliance manufacturers meet industry energy efficiency standards. Likewise, the development of new blowing agents, such as HFO products, highlights the ongoing advancements in technology, thereby supplementing the global blowing agents market growth.
For instance, in May 2023, Kumyang, a South Korea-based manufacturer of blowing agents introduced KY-ECO, a type of blowing agent that is safe for health. Therefore, the increasing focus on environmental sustainability, energy efficiency, and innovation in blowing agents is driving the development of next-generation products that offer improved performance and reduced environmental impact, thereby propelling the growth of the market.
Asia-Pacific Dominates the Blowing Agent Market
The growth of the blowing agents market in the Asia-Pacific region is driven by several factors, including the growing construction, automotive, and electronics industries. The increasing demand for lightweight materials, higher insulation, and higher elasticity in industries, such as automotive, construction, and aerospace, is also driving the growth of the blowing agents market in the region. The increasing disposable income of people, surging demand for larger living and commercial spaces, and the increasing production of aircraft across countries, such as India, China, and South Korea, are several crucial aspects augmenting the growth of the blowing agents market across the region.
For instance, in the year 2023, various building and construction projects commenced in the Asia-Pacific region, including Penang Chip Packaging Facility in Malaysia (project completion year 2024), Chashma Power Plant Unit V 1200 MW in Pakistan (project completion year 2030), Qinzhou Petrochemical refining and chemical integration upgrade project in China (project completion year 2025), and Dushanzi Petrochemical Complex in China (project completion year 2026). In addition, according to the recent statistics published by the Asia Automotive Analysis (AAA), in the first half of 2023, the production of automotive in Asia (South Asia, ASEAN, and East Asia) was 7,486,897 units, a year-on-year growth rate of 13.1% as opposed to 6,609,402 units in June 2022. Henceforth, the growth of the end-use industries, such as building and construction and automotive, in the Asia-Pacific are spurring the growth of the blowing agents market in the region.
Future Market Scenario (2024 - 2031F)
Investments in mining and construction sectors will further increase use cases of blowing agents, thereby creating a lucrative opportunity for market growth.
Innovation and R&D in automotive manufacturing will influence the demand growth of blowing agents. Thus, fostering the growth of the blowing agents market in the upcoming years.
Government-linked incentive schemes will help the market grow, especially applicable for appliances.
blowing agents in the global market.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.