Blowing Agents Market worth $2.3 Billion by 2027 at a growth rate of 6.3%
Rapid Increase in Aircraft Production and Bolstering Growth in Automotive Sector will stimulating the growth of the Blowing Agents Market.
Rapid Increase in Aircraft Production and Bolstering Growth in Automotive Sector will stimulating the growth of the Blowing Agents Market.
HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Blowing Agents Market size is estimated to reach US$2.3 billion by 2027 after growing at a CAGR of 6.3% during the forecast period 2022-2027. Blowing Agents are chemical substances that are used to make a cellular structure that has high elasticity and can be transformed into a variety of materials through a phase transition. The high applicability of blowing agents in thermal insulating foam such as polyurethane & vinyl foam that are highly used in the automotive, building & construction and aerospace sectors is positively influencing the Blowing Agents Market. Technological upgradation and growing demand for fuel-efficient vehicles have surged automotive production across various countries. According to the International Organization of Motor Vehicles Manufacturers, in 2021, Australia's automotive production increased by 14% in comparison to the previous year. In addition to automotive, rapid developments witnessed by the building & construction and aerospace sector are also driving the growth of the blowing agents industry. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more. Click here to browse the complete report summary:URL.html Key takeaways: This IndustryARC report on the Blowing Agents Market highlights the following areas - 1. Asia-Pacific dominates the Blowing Agents industry due to the rapidly growing automotive and building & construction in the region which is boosting the demand for polyurethane and vinyl thermal insulating foam in the region 2. The rapid increase in the rate of aircraft production and deliveries has accelerated the usage of blowing agents such as polyurethane foam in turbine housings & blades which is positively impacting the Blowing Agents industry outlook. 3. The growing regulations on hydrochlorofluorocarbons and chlorofluorocarbons production can limit the production scale of physical bonding agents, thereby restraining the market growth as well as having a negative influence on the Blowing Agents industry outlook. Interested in knowing more relevant information? Click here:URL.php?id=17682 Segmental Analysis: 1. Polyurethane foam held the largest share in the Blowing Agents Market in 2021 and is estimated to grow at a CAGR of 6.5% during the forecast period 2022-2027. Polyurethane foam, being a thermal insulating foam, provides insulation and protection to materials against external factors that cause corrosion and abrasion. Due to its rich protective features, polyurethane foam has high applicability in major end-users such as automotive, building & construction and electrical & electronics 2. Asia-Pacific dominated the Blowing Agents Market with up to 42% market share in 2021. The high applicability of blowing agents in automotive bumpers, fenders and roofs & walls of buildings is influencing its demand in the automotive and building & construction sectors. Favorable government policies and investment inflows have increased the productivity of these major sectors. 3. Building & construction sector held the largest share in the Blowing Agent market in 2021 and is estimated to grow at a CAGR of 6.9% during the forecast period 2022-2027. Blowing Agents have high heat insulation and shock absorbent features. Rapid urbanization, growing demand for house dwellings and investment inflows have increased the construction output. Competitive Landscape: The top 5 players in the Blowing Agents Industry are - 1. Chemours Company2. Arkema3. Nouryon4. AkzoNobel5. Sinochem Group Co. Ltd. Click on the following link to buy the Blowing Agents Market Report:URL Why Choose IndustryARC? IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports. Related Reports: A. Foam Blowing Agents Market__URL__ B. Antifoaming Agent Market__URL__.html Contact Us:Mr. Venkat ReddyIndustryARCEmail: EMAIL, __EMAIL__SA: (+1) 970-236-3677, (+1) 815-656-4596IND: (+91) 40-485-49062 Venkat Reddy
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