In 2023, the North American foam-blowing agents market stands at a robust USD 305.8 million, with a projected compound annual growth rate (CAGR) of 5.8% anticipated during the period from 2024 to 2030. This substantial growth trajectory is expected to propel the market to reach an impressive USD 451.5 million by the year 2030.
Moreover, new applications in the healthcare market will aid in the growth of the sector. for instance, the FDA approved a new foaming agent for therapeutic gastrointestinal injuries in armed personnel by being injected into the abdomen. The needed pressure to halt the bleeding is molded by blowing agents. A recent study discovered that in the past few years, contemporary foaming tech aided in averting close to 91% of mortalities on the frontline.
Another major sector that utilizes foam-blowing agents is manufacturing, which endures to boom in the U.S. and Canada. Furthermore, the rising need for greater blowing agents to manufacture polymeric foams helps the sector grow. Apart from construction and building, the rising automotive & transportation, packaging, marine, furniture & bedding, electrical appliances, and packing sectors are driving the polymer foam market.
The foam category is segmented into polyurethane foam, polystyrene foam, phenolic foam, and polyolefin foam. The polyurethane foam category dominates the industry, and this dominance can be credited to the flexibility and distinctive properties linked with polyurethane foams.
In addition, in the field of use as roof or wall reinforcement for agriculture, home, and commercial buildings, there is a growing demand for PU foam blow agents. In this respect, the continuing growth of these sectors and the fact that building insulation is vital in a region as cold as it is has led to an increased market. It is only by good insulation that the desired temperature inside buildings may be maintained, and energy needs for heating are reduced.
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