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Spray Polyurethane Foam Market Report
Spray Polyurethane Foam Market is Segmented by Cell Structure Type (Open Cell Structure and Closed Cell Structure), by Application Type (Roofs, Walls, Floors, and Others) by End-Use Type (Residential, Commercial, and Industrial), and by Region...
Impact of COVID-19 on Spray Polyurethane Foam Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
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.
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.
Based on the 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.
Based on the 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.
In terms of region, North America is expected to remain the largest market for spray polyurethane foams during the forecast period. 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 following are the key players in the spray polyurethane foam market.
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.
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:
The spray polyurethane foam market is segmented into the following categories.
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
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The spray polyurethane foam market is estimated to grow at a CAGR of 8% by 2026.
Huntsman International LLC, Carlisle, BASF, Dow Chemical Company, Covestro, Johns Manville, CertainTeed, Nippon Aqua Foam, Henry Company, NCFI Polyurethanes, SWD Urethane, GACO, and Rhino Linings Corporation are the major players active in the market.
North America is estimated to remain dominant in the spray polyurethane foam market in the foreseen future.
Walls are expected to remain the most dominant application type in the spray polyurethane foam market during the next five years.
Closed-cell structure is expected to remain the larger segment in the spray polyurethane foam market in the coming years.
The spray polyurethane foam market size is expected to reach US$ 4.4 Billion in the coming years.
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