Physical Blowing Agents Market expected to reach US$2,633.945 million by 2030
Physical Blowing Agents Market Trends & Forecast
As per Knowledge Sourcing Intelligence (KSI) latest report, the physical blowing agents market is forecasted to attain US$2,633.945 million in 2030 at a CAGR of 4.95% from US$2,068.205 million in 2025.
The physical blowing agents (PFAs) that are injected into the polymer melt may be the same as chemical foaming agents (i.e., CO2 or N2) or may be hydrocarbon or halogen-carbon-based. The physical blowing agent system requires engineering modifications, such as a high-pressure injection unit, extended screws and barrels, and gas storage or compression units.
Further, the most versatile substance is chlorofluorocarbons (CFCs) but they cause ozone layer depletion and have been banned by the Montreal Protocol in 1989. Hydrofluorocarbons (HCFCs) came as a replacement for CFCs, but they are being phased out under the Montreal Protocol since they deplete the ozone layer. HCFC is nearly 2,000 times more potent than carbon dioxide in terms of its global warming potential (GWP).
Certain hydrocarbons, e.g., pentane, isopentane, cyclopentane, and liquid CO2, are other physical blowing agents used. There are specific properties of blowing agents that lead to different machine requirements. Flammable blowing agents, such as pentane, require suitable explosion-proof equipment, which has a higher cost than conventional equipment.
However, liquid CO2 is nowadays used in different processes. The reasons for choosing liquid CO2 are by now, generally well known and widely accepted. As the product is available in nature, extremely cheap, expands three times more than competing alternatives, such as Methylene Chloride, and has no harmful effect on the health of workers or factory safety.
Further, in May 2023, a CO2 capture process, jointly developed by Linde, Heidelberg Materials, and BASF, and based on BASF’s advanced OASE blue technology, would be used for the first time at a large-scale CO2-capture facility operated by Capture-to-Use (CAP2U). It is a new joint venture established by Heidelberg Materials and Linde.
The plant would be the world’s first industrial-scale carbon capture and utilization (CCU) facility. Around 70,000 tons per year of CO₂ could be captured, purified, and liquefied. Linde can sell the resulting liquid CO₂ as a feedstock for the chemicals industry and into the food and beverage end-use markets. Moreover, the United States is the largest exporter of Carbon dioxide with 12,361,000,000 Kg exports followed by the Netherlands with 601,607,000 Kg and the European Union with 375,375,000 Kg in 2023.
Further, the government of India took various steps to increase hydrocarbon production by policy for Relaxations, Extensions, and Clarifications under the Production Sharing Contract regime for early monetization of hydrocarbon discoveries in July 2024.
Moreover, PAO NOVATEK, a company engaged production, processing, and marketing of natural gas and liquid hydrocarbons, witnessed positive growth in 2024. The total sales volumes of liquid hydrocarbons aggregated 16.4 MMT, which was 3.1% higher than in 2023. Further, NOVATEK’s liquid hydrocarbon production, including a share in the production of joint ventures, witnessed positive growth of 11.5% in 2024, with the growth of 13.79 MMT in 2024 from 12.37 MMT in 2024. These positive growths projected a significant growth in the Hydrocarbons (HCs) segment during the forecast period.
➥ View a sample of the report or purchase the complete study at: Physical Blowing Agents Market Report
Physical Blowing Agents Market Report Highlights
- By product type, the physical blowing agent market is segmented into hydrochlorofluorocarbons, hydrofluorocarbons, hydrocarbons, hydrofluoroolefins, and others. The hydrocarbons are witnessing a significant growth as they have advantages over other types of blowing agents, which are synthetic chemicals that contain chlorine and fluorine atoms.
- By foam type, the physical blowing agent market is segmented into polyurethane foam, polystyrene foam, phenolic foam, polypropylene foam, polyethylene foam, and others. The polymeric foams deliver enhanced thermal insulation and stiffness. They act as key materials for applications that need lightweight and energy-absorbing solutions.
- Asia Pacific will be the fastest-growing market during the forecast period, driven by huge population, industrialization and urbanization and investment in countries like China and India.
- North America is anticipated to see considerable growth, fueled by a continuous rise in consumer demands, technology and operational breakthroughs that have also contributed to physical blowing agent market.
Physical Blowing Agents Market Segmentation
Knowledge Sourcing Intelligence has segmented the global physical blowing agents market based on product type, foam type, process, application, and region:
Physical Blowing Agents Market, By Product Type
- Hydrochlorofluorocarbons (HCFCs)
- Hydrofluorocarbons (HFCs)
- Hydrocarbons (HCs)
- Hydrofluoroolefin (HFO)
- Others
Physical Blowing Agents Market, By Foam Type
- Polyurethane Foam
- Polystyrene Foam
- Phenolic Foam
- Polypropylene Foam
- Polyethylene Foam
- Others
Physical Blowing Agents Market, By Process
- Injection Moulding
- Extrusion
- Others
Physical Blowing Agents Market, By Application
- Building and Construction
- Automotive
- Bedding and Furniture
- Appliances
- Packaging
- Others
Physical Blowing Agents Market, By Region
- North America
- U.S.
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
Physical Blowing Agents Market Key Players
- Honeywell International Inc.
- Lehmann&Voss&Co.
- Nouryon
- Arkema
- Harp International Ltd
- HCS Group GmbH
- Solvay
- The Chemours Company
- Sinochem Group Co., Ltd
- Linde Group
| Report Metric | Details |
| Growth Rate | CAGR of 4.95% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Million |
| Segmentation | Product Type, Foam Type, Process, Application, Geography |
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Physical Blowing Agents Market | Honeywell International Inc., Lehmann&Voss&Co., Nouryon, Arkema, Harp International Ltd |
| Customization Scope | Free report customization with purchase |
About Knowledge Sourcing Intelligence (KSI)
Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm headquartered in India. Backed by seasoned industry experts, we offer syndicated reports, customized research, and strategic consulting services. Our proprietary data analytics framework, combined with rigorous primary and secondary research, enables us to deliver high-quality insights that support informed decision-making. Our solutions empower businesses to gain a competitive edge in their markets. With deep expertise across ten key sectors, including ICT, Chemicals, Semiconductors, and Healthcare, we effectively address the diverse needs of our global clientele.
