Rigid Spray Polyurethane Foam Market Report

Market Insights

The Rigid Spray Polyurethane Foam market is projected to grow from USD 467.44 million in 2021 to USD 581.33 million by 2028 at a CAGR of over 3.1% during the forecast period of 2022-2028.

What is rigid spray polyurethane foam?

Rigid spray polyurethane foams are made into laminated insulation panels with a wide variety of facings. It exhibits improved sealing, cushioning, and vibration control features with a broad variety of facings. It is widely used for sealing and insulation purposes in building walls and roofs.

Market Drivers

Government initiatives for increasing the use of rigid polyurethane foams as well as increasing usage of polyurethane foams in packaging, construction, furniture & footwear further augments the market growth in the following years. Expanding construction industry offers ample growth opportunities to the market players. In addition, PU foam is a highly reasonable and safe mode of reducing carbon emission, thus boosting the product used during the review period.

COVID-19 Impact on Rigid Spray Polyurethane Foam Market

The COVID-19 pandemic has adversely affected the rigid spray polyurethane foam industry as a result of the shutdown of construction activities in due to limited workforce and social distancing norms. Moreover, supply chain disruption and restricted transportation further affected the market growth, amid the pandemic.

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Key Players

Key players operating in the rigid spray polyurethane foam market are-

• BASF SE (Germany)
• Covestro AG (Germany)
• Huntsman (US)
• Dow (US)
• Duna Corradini (Italy)
• Novomer (US)
• Nanjing Hongbaoli (China)
• Wanhua Chemical (China)
• Lecron Energy Saving Materials (China)
• Huafon (China)

Target Audience

Here is the list of the group of customers that the rigid spray polyurethane foam market hopes to have the greatest opportunity to convert-

• Rigid Spray Polyurethane Foam companies
• Rigid Spray Polyurethane Foam distributors
• Construction companies
• Government organizations

Segments' Analysis

End-Use Trends

Based on end-use, the global rigid spray polyurethane foam market has been classified into commercial, residential, industrial, agricultural, and institutional. Under these, the commercial segment held the largest market share of more than 32% in 2021 and is likely to grow at a considered CAGR during the forecast period. Rigid spray polyurethane foam is widely used for insulation and preventing cracks in building interiors and exterior owing to their antibacterial and water-resistant characteristics, thereby bolstering the segment growth.

Regional Trends

By region, the North American market held a significant market share in 2021 and is projected to grow at a healthy CAGR in the coming years. Supportive government protocols related to energy-efficient buildings and infrastructures in the US are likely to promulgate the product demand. Significant demand for rigid SPF from rising commercial and residential construction projects further proliferates the regional market growth.

Market Segmentation

The market is segmented in the following ways:

By Application Type

• Wall
• Roof
• Floor

By End-Use Type

• Commercial
• Residential
• Industrial
• Agricultural
• Institutional

By Region:

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed 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, 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 3 players)
• SWOT analysis of key players (up to 3 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 at sales@stratviewresearch.com.