Stratview Research announces the launch of a new research report on Spray Polyurethane Foam Market 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 (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
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 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 formulate growth strategies.
Spray Polyurethane Foam Market: Highlights
Over the years, building insulation products have evolved enormously with constant development 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 rebound in the coming years, expected to grow at a healthy CAGR of 8.1% over the next five years to reach US$ 4.4 billion in 2026.
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Based on the cell structure type, closed-cell structure is expected to remain the larger and the faster-growing segment of the market during the forecast period. There is high preference 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, 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.
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In terms of region, North America is expected to remain the largest market for spray polyurethane foams during the forecast period. The region has high focus on building insulation with strong reliance on spray polyurethane foam due to regional government incentives and laws that promote energy-efficient infrastructure. North America and Europe have 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.
Key players in the spray polyurethane foam market are:
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 on 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:
This report studies global spray polyurethane foam market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Spray Polyurethane Foam Market, by Cell Structure Type
Spray Polyurethane Foam Market, by Application Type
Spray Polyurethane Foam Market, by End-Use Type
Spray Polyurethane Foam Market, by Region