Chemical Blowing Agents Market Progresses for Huge Profits During 2020
Chemical
blowing agents are commonly used additives in polymeric foam industry
as a part of production process to impart particular properties to
the polymeric foam. They help in inducing a cellular structure to
polymeric foams. The cellular structure in matrix reduces density,
increases thermal and acoustic insulation while increasing the
relative toughness of the original material. Chemical blowing agents
can help impart certain important characteristics to materials such
as reduction in weight, heat insulation, sound absorbency,
elasticity, permeability, electrical insulation, excellent textures,
wood grain and shock absorbency among others.
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Some
of the major types of chemical blowing agents are hydrocarbons (HCs),
hydro-fluoro-carbons (HFCs) and hydro-chloro-fluoro-carbons (HCFCs).
Hydrocarbons are the dominant product segment amongst which butanes
and pentanes are most commonly used as chemical blowing agents. HCFCs
have been phased out of developed nations and gradually being phased
out of other regions due to their high Ozone Depletion Potential
(ODP) and Global Warming Potential (GWP). One of the most widely used
chemical blowing agents were Chloro Fluoro Carbons (CFC’s).
However, they were phased out because of their harmful effects on the
ozone layer. While developing new products with similar or better
functionality than CFC’s, players have to face challenges such as
the impact of the products on the environment, getting suppliers who
could supply them with the requisite materials and others. This has
encouraged the industry players to develop and introduce alternative
environment friendly chemical blowing agents into the market.
Increasing
demand for polymeric foams, especially polyurethane foams, owing to
the rapid development in their end-user industries such as
construction and appliances has been boosting the demand for chemical
blowing agents. Additionally, high growth of end use industries in
Asia Pacific is anticipated to further fuel the demand for chemical
blowing agents. The major foams types that utilize these blowing
agents include polyurethane foam, phenolic foam, polystyrene foam and
polyolefin foam.
Polyurethane
foam industry utilizes all types of chemical blowing agents and
captures a major share in the market. Owing to its wide range of
applications in chemicals, construction, automotive industries and
others demand for polyurethane products is rising at a high growth
rate, which, eventually, generates demand for chemical blowing
agents. However, stringent environmental regulations regarding
chemicals used as blowing agents might hamper the growth. Development
of new environment friendly biobased products for utility as chemical
blowing agents might bring future prospective opportunities for
growth of chemical blowing agents market.
Currently,
Asia-Pacific is estimated to be the world\'s largest as well as
fastest growing market for chemical blowing agents. The region
consumed more than a half of the global demand, and emerged as a key
consumer of foam insulated products. China is the key consumer of
chemical blowing agents in Asia-Pacific. Other countries such as
South Korea and India also generate considerable demand owing to high
production levels. Mature markets in North America and Europe are
expected to witness a relatively slower growth in demand for chemical
blowing agents. Additionally, these regions are at the forefront of
the initiatives taken towards sustainable growth practices to protect
the environment.
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Some
of the major players in this market are AkzoNobel NV, Americhem, Eiwa
Chemical Ind Co Ltd, Honeywell International Ltd, KibbeChem Inc, Rit
– Chem Co Inc.
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