Spray Polyurethane Foam Market Report Size, Share & Forecast Analysis | 2021-2026

Market Insights

Spray foam insulation currently holds a niche share (<10%) of the overall insulation market (fiberglass, flexible foam, glass wool, rock wool, elastomeric foams, etc.). However, it has a strong growth roadmap in the future propelled by its superior performance, durability, and seamless installation. The global spray polyurethane foam market has been witnessing excellent growth over the past decade. The market recorded a huge decline amid the pandemic, creating a lag of 2 years in the annual market size. The market is estimated to set back in the coming years, expected to blossom at a staggering CAGR of 8.1% over the next five years to land close to US$ 4.4 Billion-mark in 2026.

• Over the eons, building insulation products have evolved enormously with constant developments in technologies.
• Growing concerns over greenhouse gas emissions and stricter building energy codes are the fundamental growth drivers, necessitating the usage of insulation products.
• When compared to standard insulating materials, spray foam insulation (SPF) is more efficient, making it a good choice for the building industry.
• According to the Environmental Protection Agency (EPA), the combustion of fossil fuels for electricity generation accounts for 10%–12% of total greenhouse gas emissions.
• Spray polyurethane foam provides great thermal resistance, lower utility costs, and can reduce heat transfers significantly, making them an effective choice for reducing greenhouse gas emissions. It also acts as a barrier to air and bulk water, as well as a moisture vapor retardant.

Segments Analysis

Cell Structure Type

• The spray polyurethane foam market is segmented as open-cell structure and closed-cell structure.
• Closed-cell structure is expected to remain the larger and the faster-growing segment of the market during the forecast period.
• There is a high significance of closed-cell structure SPF in exterior applications such as roofs and walls. On the contrary, open-cell structure is mainly preferred in interior applications such as ceiling and floors.

Application Type

• The market is segmented as roofs, walls, floors, and others.
• Walls are estimated to remain the most dominant users of spray polyurethane foams during the forecast period.
• Increased energy conservation needs, superior wall thermal performance, fire protection, termite control, and moisture control are key requirements fueling the segment’s market. Roofs also account for a sizeable opportunity in the market.

Regional Analysis of the Spray Polyurethane Foam Market

"North America is expected to remain the largest market for spray polyurethane foams during 2021-2026"

• The region has a high focus on building insulation with a strong reliance on spray polyurethane foam due to regional government incentives and laws that promote energy-efficient infrastructure.
• North America and Europe have a higher penetration of spray polyurethane foam compared to the Asian and African markets. However, there exists a strong growth potential in the emerging Asian and African economies in the coming years.

The spray polyurethane foam market is segmented into the following categories. 

Spray Polyurethane Foam Market Size, Share & Forecast, by Cell Structure Type

• Open Cell Structure
• Closed Cell Structure

Spray Polyurethane Foam Market Size, Share & Forecast, by Application Type

• Roofs
• Walls
• Floors
• Others

Spray Polyurethane Foam Market Size, Share & Forecast, by End-Use Type

• Residential
• Commercial
• Industrial

Spray Polyurethane Foam Market Size, Share & Forecast, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, Spain, the UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: India, China, Japan, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, The UAE, and Others)

Key Players

The following are the key players in the spray polyurethane foam market.

• Huntsman International LLC
• Carlisle Companies Inc.
• BASF SE
• Dow Chemical Company
• Covestro AG
• Johns Manville
• CertainTeed
• Nippon Aqua Foam
• Henry Company
• NCFI Polyurethanes
• Changsha Firm Bond New Material Co. Ltd.
• INOAC Corporation
• Soprema

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s spray polyurethane foam market realities and future market possibilities for the forecast period of 2021 to 2026.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com