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Honeywell International Inc. is the Most Active Player in the Blowing Agents Market
The market size for blowing agents is projected to reach USD 5.47 Billion by 2026, at a CAGR of 6.7% from 2016 to 2026. Growing demand for blowing agents from the major end-use industries such as building & construction, transportation, appliances, marine, bedding, packaging, furniture, automotive, and others in emerging economies such as India, Brazil, Turkey, Argentina, and others is driving the market.
Major manufacturers such as Exxon Mobil Corporation (U.S.), Honeywell International Inc. (U.S.), Linde AG (Germany), Solvay SA (Belgium), Arkema SA (France), Daikin Industries Ltd. (Japan), E. I. DuPont de Nemours and Company (U.S.), Haltermann GmbH (Germany), Foam Supplies (U.S.) and Harp International Ltd.(U.K.) are profiled in this report. These companies have adopted both organic and inorganic growth strategies.
Partnerships/agreements/collaborations was the key strategy adopted by the industry players to increase their growth in the blowing agents market. This strategy accounted for a share of 35.0%, between 2011 and 2016, of all the growth strategies adopted by the market players. New product launches accounted for a share of 29.0%, between 2011 and 2016. Besides new product developments, companies are investing in expanding their blowing agents manufacturing facilities in emerging regions across the globe. Expansions accounted for a share of 18.0% of all the developments witnessed between 2011 and 2016. Companies are also focusing on mergers & acquisitions and joint ventures since the last three years. These strategies accounted for 12.0% and 06.0%, respectively, of all the strategic developments in the market.
Companies such as Honeywell International, Inc. (U.S.), Foam Supplies (U.S.), Solvay SA (Belgium), Haltermann GmbH (Germany), and Arkema SA (France) have undertaken several partnerships/agreements/collaborations and new product launches to expand their production capacity and portfolio for blowing agents.
Honeywell International Inc. is the most active player in the blowing agents market. It accounted for the largest share of all the developmental activities undertaken in the blowing agents market. As part of its strategy, the company focuses its attention on the development of various newer blowing agents to cater to the market. The company was also involved in partnership/collaborations/agreements to expand their market presence in developing countries. The company invested to expand in South Korea, China, Dubai, and others for blowing agents market from 2012 to 2015. Another company that has established a strong foothold in the blowing agents market is Arkema SA (France). It focuses on investing in R&D to develop innovative products and new technologies.
Blowing Agents Market by Product Type (HCFC, HC, HFC), Foam (Polyurethane, Polystyrene, Phenolic, Polyolefin Foams), and Region - Global Forecast to 2026
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