Blowing Agents Market - Forecasts from 2025 to 2030

The blowing agent market is projected at US$2.25 billion in 2025 and is anticipated to reach US$2.84 billion by 2030.The blowing agents market, therefore, relates to the market for chemicals used in forming a cellular structure out of materials through foaming. These blowing agents are mostly added when still in a liquid state, and the cells created lower the density of the material while increasing its thermal/acoustic insulation and relative stiffness.

Blowing Agents Market Trends:
The blowing agents market is increasingly popular due to the development of polymeric insulation foams in construction, automotive, or home appliances companies. Since the development and growth of construction, electronics, and automotive industries in developed countries and in emerging nations in the Asia Pacific region, the requirements for blowing agents utilized in the manufacturing of these foams are presumed to rise. Besides that, the increasing trends in polymeric foams worldwide and the increasing demand for blowing agents in different industries from developing countries are also driving the market of polymeric foams.

Thus, a key driver of the blowing agents market remains the growth of polymeric insulation foams’ demand in the construction, automotive, and appliance sectors. Thus, given the further growth of the construction, electronics, and automotive industries and their focus on the further development of the foam industry in the Asia-Pacific region, which is currently rapidly developing as an emerging market, the demand for blowing agents for these foams should increase. Polymeric foams deliver enhanced thermal and sound insulation and better stiffness, thus acting as key materials for applications that need lightweight and energy-absorbing solutions. Due to intensifying concerns with energy savings in structures and increasing utilization of high-performance insulating materials, construction is driving blowing agent demand in the US market.
Blowing agents are also consumed in the automotive and electronics industries for their production, and seeing the growth in these industries, especially in the APAC region, the blowing agents market is also growing. High demand for lightweight materials, higher insulation, and higher elasticity required in automotive applications is fueling the use of blowing agents in the manufacturing of automotive components and panels. Likewise, the increasing electronics industry, mainly due to insulations and thermal management requirements, has also helped in the growth of the market. The continuously growing manufacturing of aircraft and the rise in the disposable income of people leading to the construction of larger living and commercial complexes are also contributing to the growth of blowing agents in the Asia-Pacific region.

Blowing Agents Market Growth Drivers:

The hydrochlorofluorocarbons (HCFCs) segment by product type will likely be the fastest-growing segment during the forecast period.

The blowing agents market by product type has been classified into hydrochlorofluorocarbons (HCFCs). This segment is expected to be the fastest-growing blowing agents segment during the forecast period. This growth can be attributed to several factors. This growth can be attributed to several factors:

Increasing demand for HCFCs in the Asia-Pacific region: The Asia-Pacific sector for HCFC refrigerant is expected to flourish at the fastest rate and is likely to display the strongest compound annual growth rate in the future. An increase in demand from various end-use industries has been identified as the major cause of growth in the region, especially in the emerging Asian markets, especially China and India. These and other factors, such as people's high purchasing power and changing preference for products that use HCFCs, would stimulate demand in this region.
Rising usage of HCFCs in air conditioning and cooling equipment: Based on the various HCFC refrigerant types, it has been observed that the R-22 refrigerant type will possibly dominate in terms of revenue over the coming time frame. R-22 is an HCFC, which is a group of substances containing hydrogen, chlorine, fluorine, and oxygen used for air conditioning and cooling gadgets. This segment’s growth is attributed to the combined usage of R-22 refrigerants in various applications, along with their superior thermodynamic characteristics in terms of refrigeration capacity and COP. High demand for HCFCs in the refrigeration segment. Depending on the application, the global HCFC refrigerant market is divided into refrigeration and air conditioning. Of all these, the refrigerator is anticipated to record the highest level of revenue within the given time frame. It is mainly to do with the increased consumer interest in refrigeration and cooling systems in end-user industries. Second, the pharmaceutical and biotechnology sectors’ increased need for refrigerators also plays a significant role in the development of the refrigeration division.

The discovery of new HCFCs with less ozone depletion potential in the manufacturing of insulation foam in many of the Article 5 countries and the HCFC refrigerant market’s growth are expected to influence its growth over the forecast period.

Blowing Agents Market Key Developments:

As part of the strategic business plan of Arkema in June 2021, expansion of the production capacity of the insulation foam-blowing agent hydro-fluoro olefin 1233zd (HFO-1233zd) has been declared by the company in China and the United States. Particularly, the company has aimed USD 60 million to increase 15 kilotons per year of conversion capacity for the HFO at its plant in Calvert City, Kentucky, United States. Further, this company has a contract with Aofan and will establish an output of 5 kilotons per year in China by 2022.
Late in November 2020, Nouryon started full-scale production at the Expancel® expandable microspheres production site in the US, situated at paper labels, tickets, and other related products. The Nouryon expandable microspheres plant, located in Green Bay, Wisconsin, US, officially went online as the company declared full-scale production of the Expancel®RS.

The blowing agents market is segmented and analyzed as follows:

By Product Type

Hydrochlorofluorocarbons (HCFCs)
Hydrofluorocarbons (HFCs)
Hydrocarbons (HCs)
Hydrofluoroolefin (HFO)
Other Product Type

By Foam Type

Polyurethane Foam
Polystyrene Foam
Phenolic Foam
Polypropylene Foam
Polyethylene Foam
Other Foam Type

By End-User Industry

Building and Construction
Automotive
Bedding and Furniture
Appliances
Packaging
Other Applications

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
Saudi Arabia
United Arab Emirates
Rest of the Middle East and Africa
Asia-Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific