The latest report by IMARC Group, titled “Azodicarbonamide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global azodicarbonamide market size reached US$ 1.19 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.63 Billion by 2028, exhibiting a growth rate (CAGR) of 5.60% during 2023-2028.
Azodicarbonamide is a chemical compound widely utilized as a blowing agent in the manufacturing of foamed plastics. These plastics are then used in a range of applications, such as insulation materials, gaskets, and lightweight footwear. The compound serves the essential purpose of helping polymers expand into foam-like materials, making them more malleable and easier to shape. It is also utilized in the food industry as a dough conditioner and bleaching agent. However, its usage in food is regulated or restricted in some countries due to health concerns. As a result, azodicarbonamide has gained immense traction as a valuable chemical owing to its versatility in numerous industrial applications, including plastic and rubber manufacturing, as well as its limited use in the food industry.
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Azodicarbonamide Market Trends and Drivers:
The global azodicarbonamide market is primarily driven by the increasing demand for lightweight materials in the automotive sector to improve fuel efficiency and reduce emissions. Moreover, azodicarbonamide's role in creating lightweight foamed plastics makes it indispensable in this context, thus fostering market growth. Additionally, the growing construction industry is demanding more energy-efficient insulation materials, which often utilize azodicarbonamide as a blowing agent. In line with this, favorable regulatory changes and ongoing product innovations, such as the development of more environmentally friendly alternatives, are augmenting the market growth. Furthermore, the rising focus on sustainability is leading to the emergence of bio-based and low VOC-emitting azodicarbonamide variants, thus broadening its appeal and propelling market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Industrial Quality
- Food Quality
Breakup by Application:
- Blowing Agent
- Plastic Additive
- Food Additive
- Flour Bleaching Agent
- Improving Agent
Breakup by End User:
- Plastic and Rubber
- Food and Beverage
- Leather and Textile
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Abtonsmart Chemicals (Group)Co. Ltd.
- Ajanta Group of Industries
- Guangzhou Jiangyan Chemical Co. Ltd
- Haihang Industry Co. Ltd
- JingJiang Hangsun Plastic Additives Co. Ltd
- Khadgawats Group
- Kumyang Co. Ltd.
- Lanxess AG
- Nikunj Chemicals
- Otsuka Chemical Co. Ltd
- SPL Group
- Weifang Yaxing Chemical Co. Ltd.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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