The Global Liquid Blowing Agent Market was valued at USD 2.75 Billion in 2025 and is projected to reach USD 4.12 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period (2026-2034). This robust growth is propelled by escalating demand for energy-efficient insulation materials, the expanding construction industry, and the global shift towards environmentally friendly, low Global Warming Potential (GWP) alternatives.

As regulatory pressures phase out hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), the market is witnessing a significant transformation. Innovation is critical, and the companies leading the charge are developing next-generation solutions that balance performance with sustainability. In this blog, we profile the Top 10 Companies in the Liquid Blowing Agent Industry—a group of chemical giants and specialized innovators shaping the future of foam production worldwide.

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🔟 1. Honeywell International Inc.

Headquarters: Charlotte, North Carolina, USA
Key Offering: Solstice® Liquid Blowing Agent (LBA), Solstice® foam expansion agents

Honeywell is a global leader in the development of low-GWP blowing agents, with its Solstice® LBA product line representing a significant technological advancement. These hydrofluoroolefin (HFO)-based agents are designed as drop-in replacements for high-GWP HFCs in spray foam and rigid panel applications, offering excellent thermal insulation properties.

Sustainability & Innovation Initiatives:

• Solstice® LBA has an ultra-low GWP of less than 1, a 99.9% reduction compared to HFCs.

• Major investments in manufacturing capacity to meet surging global demand for sustainable solutions.

• Active collaboration with foam manufacturers to optimize formulations and application techniques.

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9️⃣ 2. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Elastopor® systems with cyclopentane, Formacel® products

BASF is a dominant force in polyurethane chemicals and offers a comprehensive portfolio of blowing agent solutions. The company is a key supplier of cyclopentane and advanced co-blowing agent systems used extensively in the appliance and construction industries for rigid foam insulation.

Sustainability & Innovation Initiatives:

• Pioneering the use of natural blowing agents like cyclopentane, which has zero Ozone Depletion Potential (ODP).

• Development of water-blown systems for specific applications to further reduce environmental impact.

• Integration of blowing agent technology into complete PU system solutions for ease of use.

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8️⃣ 3. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: VORANOL™ polyols for water-blown foams, specification of compatible blowing agents

While Dow is renowned for its polyols and isocyanates, it plays a crucial role in the blowing agent ecosystem by developing polymer formulations optimized for specific blowing agents, including HFOs and hydrocarbons. Their materials science expertise helps drive the adoption of next-generation blowing technologies.

Sustainability & Innovation Initiatives:

• Focus on designing polyols that enhance the performance of low-GWP blowing agents.

• Commitment to circular economy principles, including the use of bio-based feedstocks.

• Leading industry consortia aimed at standardizing and promoting sustainable foam technologies.

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7️⃣ 4. AGC Chemicals

Headquarters: Tokyo, Japan
Key Offering: AMOLEA® AS (HFO-1233zd), FOREARM™ (HFO-1336mzz)

AGC is a major global player in fluorochemicals and offers advanced HFO blowing agents under the AMOLEA® and FOREARM™ brands. These products are critical for producing high-performance, energy-efficient rigid polyurethane foams used in construction and refrigeration with minimal environmental impact.

Sustainability & Innovation Initiatives:

• AMOLEA® AS boasts a GWP of 1 and is non-flammable, making it a safe and sustainable choice.

• Continuous R&D focused on improving the energy efficiency and foam properties achieved with their blowing agents.

• Strategic expansion of production capabilities to serve growing Asian and North American markets.

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6️⃣ 5. Clariant AG

Headquarters: Muttenz, Switzerland
Key Offering: Exolit® OP foaming agents, customized additive packages for foams

Clariant specializes in high-value specialty chemicals, including additive solutions that optimize the foaming process. While not a primary blowing gas supplier, Clariant’s additives are essential for controlling cell structure, stability, and final properties in foams produced with various blowing agents.

Sustainability & Innovation Initiatives:

• Development of halogen-free flame retardants compatible with next-generation blowing agents.

• Focus on bio-based and sustainable additive solutions to complement green blowing agent technologies.

• Technical support services that help customers transition to new blowing agent systems seamlessly.

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5️⃣ 6. Kumyang Co., Ltd.

Headquarters: Seoul, South Korea
Key Offering: Hydrocarbon blowing agents (cyclopentane, n-pentane, isopentane)

Kumyang is a leading South Korean chemical company with a strong focus on hydrocarbon blowing agents. It is a key supplier to the appliance industry in Asia, providing high-purity cyclopentane and pentane blends that offer excellent insulation performance and comply with stringent environmental regulations.

Sustainability & Innovation Initiatives:

• Specialization in natural blowing agents with zero ODP and low GWP.

• Investment in purification technologies to ensure the consistent quality of hydrocarbon blends.

• Expanding its geographic footprint to cater to global appliance manufacturers.

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4️⃣ 7. Sanmei Chemical Co., Ltd.

Headquarters: Zhejiang, China
Key Offering: Physical blowing agents (HCFCs, HFCs, HC alternatives), chemical blowing agents

Sanmei Chemical is a significant Chinese manufacturer of various chemical products, including a range of blowing agents. The company serves the vast domestic foam market and is actively involved in the transition from older HCFCs to more modern HFC and hydrocarbon-based solutions.

Sustainability & Innovation Initiatives:

• Adapting production lines to manufacture alternatives in line with China’s Kigali Amendment implementation.

• Focus on cost-effective solutions for the price-sensitive Asian market.

• R&D efforts aimed at developing proprietary blowing agent formulations.

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3️⃣ 8. Arkema S.A.

Headquarters: Colombes, France
Key Offering: Forane® FBA (HFO blend), fluorinated specialty products

Arkema, through its fluorogas division, is a key developer of innovative blowing agent solutions. The company’s Forane® FBA is an HFO-based blend designed for appliance and construction foams, offering a balanced profile of low GWP, non-flammability, and high thermal performance.

Sustainability & Innovation Initiatives:

• Strong commitment to sustainable innovation with a focus on materials that reduce energy consumption.

• Active participation in global policy discussions regarding fluorinated gases and their alternatives.

• Investment in research to expand the application range of its low-GWP products.

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2️⃣ 9. Linde plc

Headquarters: Guildford, United Kingdom
Key Offering: Carbon dioxide (CO₂) as a co-blowing agent, industrial gases for foam production

Linde, a global industrial gases leader, plays a unique role by supplying carbon dioxide used in polyurethane foam production. CO₂, generated as a by-product of the reaction between water and isocyanates (chemical blowing), is a zero-ODP and low-cost option, often used in combination with physical blowing agents.

Sustainability & Innovation Initiatives:

• Promoting the use of CO₂ from sustainable sources or captured emissions.

• Providing technical expertise on gas handling and processing for optimized foam manufacturing.

• Exploring advanced gas technologies to improve the efficiency of foam production processes.

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1️⃣ 10. Daikin Industries, Ltd.

Headquarters: Osaka, Japan
Key Offering: Low-GWP fluorinated blowing agents

Daikin, a world leader in air conditioning, also possesses deep expertise in fluorochemistry. The company develops and supplies advanced fluorinated blowing agents that cater to high-performance foam applications, particularly in regions with strict safety and performance specifications.

Sustainability & Innovation Initiatives:

• R&D focused on next-generation molecules with even lower environmental impact.

• Leveraging its expertise in refrigeration to develop blowing agents with optimal thermodynamic properties.

• Commitment to achieving carbon neutrality across its operations and product lifecycle.

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🌍 Outlook: The Future of Liquid Blowing Agents is Sustainable and High-Performance

The liquid blowing agent market is in the midst of a profound transformation driven by environmental imperatives and performance demands. The transition away from high-GWP substances is creating immense opportunities for innovation, with a clear trend towards hybridization and material science advancements.

📈 Key Trends Shaping the Market:

• Accelerated HFO Adoption: Rapid scaling of HFO production capacity to meet regulatory deadlines and corporate sustainability goals, particularly in North America and Europe.

• Blended Solutions for Optimal Performance: Increasing use of hybrid blowing agent systems (e.g., HFO/HC blends) to balance insulation value, foam processing, flammability, and cost.

• Regional Regulatory Divergence: Different phase-out schedules under the Montreal Protocol’s Kigali Amendment are creating varied regional dynamics and market opportunities.

• Focus on Total Cost of Ownership: End-users are increasingly evaluating blowing agents based on the long-term energy savings of the insulation they produce, not just the upfront chemical cost.

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Liquid Blowing Agent Market – View in Detailed Research Report

The companies profiled above are not merely suppliers of chemicals; they are essential partners in building a more energy-efficient and sustainable future. Their innovations in liquid blowing agents are directly contributing to reduced greenhouse gas emissions from buildings and appliances worldwide, proving that advanced chemistry is a cornerstone of climate action.