The Global Capsule Blowing Agent Market was valued at US$ 125 million in 2025 and is projected to reach US$ 198 million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period (2026-2034). This robust growth is fueled by escalating demand from end-use industries like automotive, textiles, and electronics, coupled with the superior performance advantages of capsule blowing agents over traditional chemical foaming agents, such as smoother foam surfaces and easier processing capabilities.

As the global push for lightweight, high-performance, and sustainable materials intensifies, the spotlight is on the key chemical suppliers who are driving innovation in microencapsulation and foam expansion technologies. In this blog, we profile the Top 10 Companies in the Capsule Blowing Agent Industry—a mix of global chemical giants and specialized manufacturers shaping the future of advanced polymer foaming.

---

🔟 1. Kumyang Co., Ltd.

Headquarters: Seoul, South Korea
Key Offering: Microsphere-based Physical Blowing Agents (Various Particle Sizes)

Kumyang is a leading South Korean specialty chemical company renowned for its high-quality microsphere products. Its capsule blowing agents are critical components for creating lightweight, thermally insulating, and acoustically dampening foams used across a diverse range of applications.

Innovation & Market Focus:

• Specialization in uniform particle size distribution for consistent foaming performance

• Strong R&D focus on expanding application scope in automotive and construction sectors

• Strategic partnerships with polymer compounders and foam manufacturers globally

Download FREE Sample Report:
Capsule Blowing Agent Market – View in Detailed Research Report

---

9️⃣ 2. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Sustainable Foaming Solutions, Polymer-bound Blowing Agents

As a global materials science leader, Dow offers a comprehensive portfolio of solutions that incorporate advanced blowing agent technologies. Their expertise lies in developing systems that enhance the sustainability and performance of polyolefin foams, particularly for packaging and automotive interiors.

Innovation & Market Focus:

• Pioneering work in next-generation, low-global-warming-potential (GWP) blowing agents

• Integration of blowing agent technology with proprietary polymer resins for optimized performance

---

8️⃣ 3. DONGJIN SEMICHEM Co., Ltd.

Headquarters: Hwaseong, Gyeonggi-do, South Korea
Key Offering: High-Purity Chemical Blowing Agents and Microencapsulated Expancels

DONGJIN SEMICHEM is a major force in the Asian electronic chemicals market, with a growing specialty chemicals division that produces advanced blowing agents. Their products are essential for creating fine-celled foams in sensitive applications like semiconductor packaging and lightweight composites.

Innovation & Market Focus:

• Focus on ultra-clean blowing agents for electronics and high-value industrial applications

• Expansion of production capacity to meet rising demand from the Asia-Pacific region

---

7️⃣ 4. 3M Company

Headquarters: Saint Paul, Minnesota, USA
Key Offering: 3M™ Glass Bubbles and Specialty Additives

3M is a dominant player in the lightweight filler and additive space, with its glass bubble products often functioning as part of composite foaming systems. While not traditional hydrocarbon-based blowing agents, their hollow glass microspheres provide unique weight reduction and insulation properties in thermoset and thermoplastic composites.

Innovation & Market Focus:

• Leading innovator in hollow microsphere technology for density reduction

• Applications spanning from deep-sea buoyancy modules to automotive lightweighting

Download FREE Sample Report:
Capsule Blowing Agent Market – View in Detailed Research Report

---

6️⃣ 5. Sasol Limited

Headquarters: Johannesburg, South Africa
Key Offering: Hydrocarbon-based Blowing Agents and Wax Additives

As a global integrated energy and chemical company, Sasol produces a range of hydrocarbon-based products that serve as feedstocks and direct components for blowing agent formulations. Their strong position in the Fischer-Tropsch process gives them a unique advantage in producing high-purity linear hydrocarbons.

Innovation & Market Focus:

• Leveraging integrated gas-to-liquids (GTL) technology for specialty chemical production

• Development of environmentally benign hydrocarbon blowing agent alternatives

---

5️⃣ 6. BAONENG Chemical Group

Headquarters: Zibo, Shandong, China
Key Offering: Cost-effective Chemical Blowing Agents for Plastics and Rubbers

BAONENG is a significant Chinese manufacturer of chemical additives, including a range of blowing agents tailored for the massive domestic polymer processing industry. They are key suppliers for PVC, PP, and PE foam applications, catering to price-sensitive volume markets.

Innovation & Market Focus:

• Focus on scalability and cost-competitiveness for high-volume manufacturing

• Expanding product portfolio to include more advanced, activated blowing agent systems

---

4️⃣ 7. AkzoNobel N.V.

Headquarters: Amsterdam, Netherlands
Key Offering: Expancel® Expandable Microspheres

AkzoNobel, through its Expancel brand, is a world leader in expandable microspheres—a key type of capsule blowing agent. These thermoplastic microspheres expand when heated, providing consistent and controllable foaming for a multitude of applications, from printing inks to automotive sealants.

Innovation & Market Focus:

• Global technology and market leader in expandable microspheres

• Continuous development of new grades for specific temperature and density requirements

---

3️⃣ 8. Hunan Farida Technology Co., Ltd.

Headquarters: Changsha, Hunan, China
Key Offering: Azodicarbonamide (ADC) and other Chemical Blowing Agent Powders

Hunan Farida is a specialized Chinese producer focused primarily on chemical blowing agents like Azodicarbonamide, which is widely used for foaming PVC, EVA, and polyolefins. They serve the footwear, artificial leather, and建材 (building materials) industries with tailored formulations.

Innovation & Market Focus:

• Specialization in cost-effective ADC and activated blowing agent blends

• Strong distribution network across Southeast Asia and emerging markets

---

2️⃣ 9. Otsuka Chemical Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: High-Performance Chemical Blowing Agents, including Endothermic Types

Otsuka Chemical is a respected Japanese manufacturer known for its high-quality and technologically advanced chemical products. Their blowing agent division produces both exothermic and endothermic types, offering solutions for applications requiring fine cell structure and smooth surfaces, such as in engineering plastics.

Innovation & Market Focus:

• Expertise in endothermic blowing agents that improve surface quality and dimensional stability

• Focus on high-value applications in electronics and automotive engineering plastics

---

1️⃣ 10. Weifang Yaxing Chemical Co., Ltd.

Headquarters: Weifang, Shandong, China
Key Offering: Azodicarbonamide (ADC) and Modified Blowing Agent Masterbatches

Weifang Yaxing is another major Chinese player in the blowing agent market, with a significant production capacity for ADC and other core products. They have been expanding their offerings to include masterbatch forms of blowing agents, which provide easier handling and more uniform dispersion for plastic processors.

Innovation & Market Focus:

• Vertical integration in blowing agent production ensures cost control and supply stability

• Growing investment in masterbatch technology to provide value-added solutions

Get Full Report Here:
Capsule Blowing Agent Market – View in Detailed Research Report

---

🌍 Outlook: The Future of Capsule Blowing Agents Is Smarter and Greener

The capsule blowing agent market is undergoing a significant transformation. While established chemical agents still dominate, the industry is increasingly focused on sustainable formulations, enhanced performance characteristics, and application-specific solutions to meet evolving regulatory and consumer demands.

📈 Key Trends Shaping the Market:

• R&D into low-VOC and non-ozone-depleting blowing agent alternatives

• Growing demand for fine-celled, high-strength foams in electric vehicle battery components

• Integration of digital monitoring and control in foam manufacturing processes

• Strategic alliances between chemical suppliers and polymer producers for integrated solutions

Get Full Report Here:
Capsule Blowing Agent Market – View in Detailed Research Report

The companies listed above are not only supplying essential chemicals—they’re enabling the advanced material innovations that make modern products lighter, safer, and more efficient.