Blowing Agents Companies

The blowing agent market is expected to grow at a CAGR of 5.5% to reach USD 2.3 billion by 2029 from USD 1.8 billion in 2024. The market growth is driven by various factors, including the significant demand from construction and automotive industry.

The key global players in the blowing agents market, such as Honeywell International Inc. (US), Solvay (Belgium), Arkema (France), Exxon Mobil Corporation (US), Linde PLC (UK), Daikin Industries Ltd. (Japan), The Chemours Company (US), BASF SE (Germany), HCS Group (Germany), FSI (US), and Harp International Ltd. (UK) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches and expansions.

Honeywell International Inc. provides blowing agents through its performance materials and technologies segment. Their hydrofluoro-olefin (HFO) technology, branded as Solstice, enables customers to reduce their carbon footprint without compromising product performance. Specifically in the foam industry, Honeywell provides Solstice Liquid Blowing Agent (LBA) (HFO-1233zd(E)) and Solstice Gas Blowing Agent (GBA) (HFO-1234zd(E)), widely embraced as substitutes for HCFCs and other blowing agents across various foam applications. The company operates state-of-the-art production facilities in the U.S. and China. Notably, Honeywell's patent portfolio encompasses key molecules, including HFO-1233zd(E), HFO-1234ze(E), and HFO-1336mzzm.

Solvay is an advanced materials and specialty chemicals company offers blowing agents through its special chemical division under the materials business segment. Solvay has research & innovation centers and industrial sites in Europe, North America, Latin America, and Asia. They have 42 Industrial sites across the globe with 6 major R&D centers.