Press release
What is Driving Demand for Foam Blowing Agents in the U.S.?
FDA approval for the use of blowing agents to heal abdominal trauma in military personnel has given a positive outlook to the industry. This breakthrough will go long way in saving the lives of soldiers who have suffered serious abdominal trauma.Click HERE to Get Complete Synopsis of the Report- https://www.factmr.com/report/foam-blowing-agents-market
Moreover, the use of foaming agents in the development of antiseptic liquid soaps has increased its demand in the past half-decade. This can be attributed to the enhanced properties such as improved texture, uniform distribution and good penetration of the product. Such innovations are likely to bolster the production and sales of the foam blowing agents over the forecast period.
As per a new report published by Fact.MR, the foam blowing agents market is anticipated to magnify at a CAGR of around 6% over the next ten years.
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Key Takeaways from Market Study
Based on application, polyurethane foams capture a major market share.
Among the end uses, the electrical & electronics industry has been the fastest-growing segment, owing to rise in the purchase of consumer appliances over the past decade.
Asia Pacific is set to dominate market revenue through 2031.
The market in China is expected to rise at a high single-digit CAGR through 2031.
Due to the COVID-19 crisis, demand for blowing agents was hit in 2020. But with the manufacturing industry back on track, demand is expected to bounce back.
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“High R&D spending coupled with technological advancements will aid market growth over the coming years,” says a Fact.MR analyst.
Winning Strategy
Manufacturing companies are opting for more sustainable processes keeping in mind the needs of the present consumers. Moreover, market players are investing heavily in R&D and innovative solution driven approaches to come up with more energy-efficient green blowing agents.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global foam blowing agents market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market based on product type (HC, HFC & HCFC, blends, HFO, methyl and methyl formate, and others [liquid CO2 and water]), application (polyurethane foams polystyrene foams phenolic foams, and others [PVC foams, polyisocyanurate foams]), and end-use industry (building and construction, electrical and electronics, furniture and bedding, clothing and apparel, automotive, and others [textiles, medical, etc.]), across five major regions of the world (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
For More Insights: https://www.prnewswire.com/news-releases/dental-care-medical-ceramics-applications-to-spearhead-majority-of-market-growth-across-2021-factmr-study-301232422.html
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