Spray Polyurethane Foam Market: Information by Type (Open Cell and Closed Cell Polyurethane Foam), Application (Walls, Floor, Roofs, and Others), and Region (Asia-Pacific, North America, Europe, Latin America, and Others) — Global Forecast till 2030

Market Overview

Spray Polyurethane Foam Market was valued at around USD 1648.8 million in 2018 and is expected to register over 7% CAGR during the review period. Spray polyurethane foam is a spray-applied plastic that forms insulation and air sealing barrier on walls, roofs, around corners, and contoured surfaces. It is produced by reacting methylene diphenyl diisocyanate with a polyol blend. Spray polyurethane foam provides high energy conservation efficiency and reduces the need for installing HVAC equipment by around 40-50%. It finds use in numerous building applications such as walls, vented attics, floors, uninsulated basement walls, crawlspaces, and unvented roof deck. It provides high thermal resistance, moisture vapor retardation, noise absorption, and excellent air and water barrier properties. Based on type, it is categorized as open cell and closed cell spray polyurethane foam, among which, open cell spray polyurethane foam is widely used in residential buildings and closed cell spray polyurethane foam in commercial buildings. 

The global demand for spray polyurethane foam is driven by expanding construction industry with rise in residential construction across the globe. Increase in commercial construction in developing nations on account of increasing penetration of big retail outlets such as departmental stores, supermarkets, malls, and specialty stores is driving the demand for spray polyurethane foam. Additionally, rise in construction in developed markets on account of increased requirement for smart buildings and modern architecture is likely to add to the growth of the global spray polyurethane foam market during the review period. Growing demand for energy-efficient construction materials in buildings to conserve energy sources and thus, reduce environmental emissions is likely to offer lucrative opportunities to the players operating in the global spray polyurethane market in the coming years. Furthermore, the increasing popularity of LEED, Leadership in Energy and Environmental Design, certification, a green building rating system to promote green building concept, has resulted in increased construction activities globally.

Some of the prevailing trends noticed in the global spray polyurethane foam market includes product development and acquisitions. For instance, in March 2018, Huntsman International LLC acquired Demilec Inc., one of the leading manufacturers of spray polyurethane foam insulation systems in North America, to diversify its product portfolio and expand business presence. Also, in February 2017, Accella Corporation acquired spray polyurethane foam business of Covestro AG to gain competitive edge in the spray polyurethane foam market.

Global Spray Polyurethane Foam Market Share, by Type, 2017 (%)

Source: MRFR Analysis

Regional Analysis

North America market accounted for the largest share of the global spray polyurethane foam market and is expected to register a healthy CAGR during the review period. This market growth can be attributed to the increasing construction spending in the region. Growing energy consumption by the residential buildings has resulted in surge in demand for energy efficient construction materials and thus, spray polyurethane foam in the region.

Asia-Pacific is another prominent market on account of increasing residential and commercial construction coupled with growing urbanization and changing living standard. Additionally, increased investment by the government in developing nations such as India, China, and ASEAN for the infrastructure development has resulted in increase in construction activities, which is expected to propel the market growth during the review period.

The European market is expected to drive the market growth on account of the expanding construction industry in Western and Northern Europe with increased spending on construction, renovation, and maintenance to meet the growing requirement for modern architecture and smart buildings.

The market in the Middle East & Africa and Latin America market is expected to grow at a significant rate during the review period on account of increasing investments in the construction sector.

Segmentation

The global spray polyurethane foam market has been segmented by type, application, and region.

On the basis of type, the market has been segmented into open cell spray polyurethane foam (light density spray foam), closed cell spray polyurethane foam, one component foam, and others.

Closed cell spray polyurethane foam is further sub-segmented into high and medium density spray foam.

Based on application, the market has been divided into walls, roofs, attics, floor, crawl spaces, and others.

By region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Key Players

Some of the key players in the global spray polyurethane foam are Huntsman International LLC (US), Accella Polyurethane Systems (US), BASF SE (Germany), Certainteed (US), Icynene (Canada), DowDuPont (US), NCFI Polyurethanes (US), Invista (US), Isothane Ltd (UK), Johns Manville (US), Soprema (France), Specialty Products Inc (US), and Rhino Linings Corporation (US).

Recent Devlopment

September 2021: JM Corbond High Yield Open-Cell Spray Polyurethane Foam added to the line of building insulation products by Johns Manville (JM), a prominent global maker of energy-efficient building and industrial insulation products and a Berkshire Hathaway company.

May 20, 2021: DuPont released a new HFC-free version of its spray polyurethane foam insulation. This is a significant step forward for both the environment and construction. If global warming is to be kept below 1.5 degrees Celsius, we must cut or eliminate two significant sources of greenhouse gas emissions in buildings: Operating emissions from the operation of a building, as well as upfront emissions—or embedded emissions—from the manufacture of the materials used in the building's construction. Spray polyurethane foam has always been a fascinating paradox: It's great for reducing operating emissions, but it's a disaster up front because the foaming agents employed were hydrofluorocarbons (HFCs).

Intended Audience

• Spray polyurethane foam manufacturers


• Traders and distributors of spray polyurethane foam


• Research and development institutes


• Potential investors


• Raw material suppliers


• Nationalized laboratories

Report Scope:

Report Attribute/Metric	Details
Market Size	2030: Significant Value
CAGR	Substantial Value
Base Year	2019
Forecast Period	2020-2030
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Has been segmented by type, application, and region.
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Huntsman International LLC (US), Accella Polyurethane Systems (US), BASF SE (Germany), Certainteed (US), Icynene (Canada), DowDuPont (US), NCFI Polyurethanes (US), Invista (US), Isothane Ltd (UK), Johns Manville (US), Soprema (France), Specialty Products Inc (US), and Rhino Linings Corporation (US).
Key Market Opportunities	Growing demand for energy-efficient construction materials in buildings to conserve energy sources .
Key Market Drivers	Rise in construction in developed markets on account of increased requirement for smart buildings and modern architecture.

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