Foam Blowing Agents Market Report 2025

The foam blowing agents market size has grown strongly in recent years. It will grow from $1.66 billion in 2024 to $1.76 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to growing demand for polyurethane foam, energy efficiency regulations, expansion of construction industry, consumer demand for lightweight materials, government initiatives for green buildings.

The foam blowing agents market size is expected to see strong growth in the next few years. It will grow to $2.28 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising demand for energy-efficient products, expansion of cold chain logistics, focus on fire safety in construction, surge in e-commerce packaging, rapid urbanization in developing countries. Major trends in the forecast period include innovation in blowing agent formulations, closed-cell foam insulation, end-of-life considerations and recycling initiatives, partnerships and collaborations for research and development, technological innovations in foam production.

The increasing demand for foam blowing agents in consumer appliances is anticipated to drive the growth of the foam blowing agent market in the future. Foam-blowing agents are substances that can create cellular structures in various materials undergoing hardening or phase transition, such as polymers, plastics, and metals. Their excellent shock-absorbing properties make foam blowing agents widely used in refrigerators and other consumer appliances, including air conditioners, water heaters, and various household devices. For example, the Energy Information Administration (EIA), a key agency of the U.S. Federal Statistical System, projects that by 2050, there will be 5.6 billion air conditioners in buildings globally, up from the current 1.6 billion. This means that an average of 10 new air conditioners will be sold every second over the next 30 years. Thus, the rising demand from the consumer appliances sector is propelling the growth of the foam blowing agents market.

The expanding construction industry is expected to drive the growth of the foam blowing agent market in the coming years. The construction industry encompasses a segment of the economy dedicated to planning, designing, constructing, maintaining, and repairing buildings, infrastructure, and industrial facilities. Foam blowing agents are widely utilized in producing insulation materials, which are essential to the construction sector. As construction activities ramp up, there is a corresponding increase in the demand for insulation materials for residential, commercial, and industrial structures. For example, in March 2023, Oxford Economics, a UK-based economic information services firm, projected that the value of construction work would grow from $9.7 trillion in 2022 to $13.9 trillion by 2037, driven by major construction markets such as China, the U.S., and India. Therefore, the growing construction industry is fueling the growth of the foam blowing agent market.

Major companies in the foam blowing agent market are prioritizing strategic partnerships to enhance the production capacity of insulation foam blowing agents like hydro-fluoro olefin 1233zd to maintain their market position. Hydrofluoroolefin (HFO) 1233zd is a refrigerant from the hydrofluoroolefin chemical family, specifically known as trans-1-chloro-3,3,3-trifluoropropene. For example, in October 2022, Arkema, a French multinational in the chemical industry, formed a partnership with Aofan, a Chinese technology company, to develop the supply of Forane 1233ZD, a blowing agent with low global warming potential (GWP) used in producing polyurethane foam insulation. They also announced plans to boost the production capacity of the insulation foam blowing agent hydro-fluoro olefin 1233zd in both China and the U.S.

Prominent companies within the foam blowing agent market are intensifying their focus on product innovation and launches, particularly advancements in insulation products, as part of their strategic approach to maintain market relevance and competitiveness. Insulation products serve to diminish the transfer of heat or sound between varying environments or spaces. For instance, in September 2023, Firestable Insulation Company, a US-based entity specializing in spray polyurethane foam insulation products, expanded its market presence with the introduction of two new products such as Stablebase 2 Max R and Stablebase 0.5 Max Yield spray polyurethane foam (SPF). Stablebase 2 Max R represents a two-component, closed-cell SPF system integrating next-generation hydrofluoroolefins (HFO) technology. This product offers remarkable attributes such as a low Global Warming Potential (GWP) of less than two and a zero Ozone Depletion Potential (ODP). Featuring an industry-leading 7.5 R-value for heightened thermal performance, it effectively reduces operating energy costs. On the other hand, Stablebase 0.5 Max Yield, another two-component, open-cell SPF, delivers exceptional high-yield, low-density insulation. With its unique no-mix formula and 100% water-blown blowing agents, this product offers an industry-leading high yield, optimizing material usage and generating cost savings.

In June 2022, Wm. T. Burnett & Co., a distinguished US-based enterprise celebrated for its diverse range of technical foam and nonwoven products across various sectors, executed a strategic acquisition by acquiring Flex Foam. The financial details of the transaction remained undisclosed. This strategic move is poised to propel Burnett & Co. further within the polyurethane industry while expanding its operational reach in the western United States. Flex Foam, a reputable US-based company, specializes in manufacturing quality urethane products, including foam blowing agents.

Major companies operating in the foam blowing agents market include Arkema S.A., Honeywell International Inc., Exxon Mobil Corporation, E.I. Du Pont De Nemours & Company, Daikin Industries Ltd., Sinochem Group, Solvay S.A., Zeon Corporation Ltd., Linde Group, The Chemours Company, Foam Supplies Inc., Harp International Ltd., HCS Group GmbH, Haltermann Gmbh, Solstice Performance Fluid, AGC Chemicals Americas Inc., Nouryon, Saudi Basic Industries Corp., Tosoh Corporation, AkzoNobel N.V., Evonik Industries AG, Clariant AG, Eiwa Chemical Industry Co. Ltd., Sinochem Lantian Co. Ltd., Lanxess, Huntsman International LLC, INEOS Group Holdings S.A.

Asia-Pacific was the largest region in the foam blowing agents market in 2024. The regions covered in the foam blowing agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the foam blowing agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Foam blowing agents are materials utilized in the production of foam products that help generate gas bubbles, leading to a lightweight and cellular structure. These agents are frequently used in manufacturing processes for items like expanded polystyrene (EPS) and polyurethane foams, which serve purposes in insulation, packaging, and cushioning applications.

The primary categories of foam blowing agents include hydrocarbons (HCs), hydrofluoroolefin (HFO), hydrofluorocarbons (HFCs), and other variations. Hydrocarbons (HCs) are crucial components derived from compounds containing hydrogen and carbon, such as pentane and butane. These are utilized in foam substrates to impart cellular structure to the material. The diverse foam types encompass polyurethane foam, polystyrene foam, phenolic foam, polypropylene foam, polyethylene foam, and others, catering to applications across building and construction, automotive, bedding and furniture, appliances, packaging, and more.

The foam blowing agents market research report is one of a series of new reports that provides foam blowing agents market statistics, including foam blowing agents industry global market size, regional shares, competitors with a foam blowing agents market share, detailed foam blowing agents market segments, market trends and opportunities, and any further data you may need to thrive in the foam blowing agents industry. This foam blowing agents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The foam blowing agents market consists of sales of physical and chemical foam blowing agents, liquid carbon dioxide, ammonium bicarbonate (NH4HCO3), sodium bicarbonate (NaHCO3), sodium borohydride (NaBH4), and chlorofluorocarbons (CFCs). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.