Spray Polyurethane Foam Market - By Product (Open cell, Closed cell), By Application (Residential walls, Residential roofing, Commercial walls, Commercial roofing), By Region & Global Forecast, 2023 – 2032
Published on: 2024-07-08 | No of Pages : 240 | Industry : Construction
Publisher : MRA | Format : PDF&Excel
Spray Polyurethane Foam Market - By Product (Open cell, Closed cell), By Application (Residential walls, Residential roofing, Commercial walls, Commercial roofing), By Region & Global Forecast, 2023 – 2032
Spray Polyurethane Foam Market - By Product (Open cell, Closed cell), By Application (Residential walls, Residential roofing, Commercial walls, Commercial roofing), By Region & Global Forecast, 2023 – 2032
Spray Polyurethane Foam Market Size
Spray Polyurethane Foam Market size was worth more than USD 1.5 billion in 2022 and is projected to exhibit a 5.5% CAGR from 2023-2032. Surging demand for bio-based polyols is expected to complement the industry expansion.
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A rise in the number of new construction projects across developed and developing countries are expected to have a positive influence on the spray polyurethane foam (SPF) industry statistics. SPF is extensively used during the construction of buildings to fill in gaps, cracks, crevices, and voids. It ensures air-sealing insulation of structures with irregular surfaces and prevents the transfer of heat or air by expanding into a solid barrier separating the indoor environment from external factors. SPFs have gained significant traction across construction applications including walls, roofs, and interior and exterior of buildings.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Spray Polyurethane Foam Market Size in 2022 | USD 1.8 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.5% |
| 2032 Value Projection | USD 3.2 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 150 |
| Tables, Charts & Figures | 164 |
| Segments covered | Product, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
|
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Volatile costs of raw materials could restrain the spray polyurethane industry growth. The raw materials used to make SPFs include MDI and TDI, petroleum-based feedstocks that rely on crude oil-derived benzene. Dramatic fluctuations in crude oil prices because of the supply-demand gap, political tensions, and trade disputes between geographies are critical roadblocks hampering the industry outlook. Additionally, civil unrest and international complications with fossil fuel trade showcase new challenges for the crude oil sector. However, increasing efforts to make sustainable SPF solutions may help the industry overcome certain hindrances.
Spray Polyurethane Foam Market Analysis
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Spray polyurethane foam market share from the open cell foam segment is anticipated to witness a 5% CAGR between 2023-2032. Open-cell spray foams with an R-value reaching over 3.6 per inch have the ability to expand during the application process. Some of its exceptional features include a low carbon footprint, minimal air filtration, and adequate thermal insulation. The increasing use of open-cell SPF in the interiors of buildings can be attributed to its permeability toward moisture and air. It provides excellent sound absorption, ensuring a peaceful and comfortable indoor atmosphere, which makes it an ideal fit for application on roofs, interior walls, and ceilings.
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Spray polyurethane foam market share from commercial wall applications is estimated to reach over USD 650 million by 2032. SPF has emerged as an ideal insulating solution for commercial buildings such as hotels, restaurants, offices, malls, retail outlets, and others. Rapid urbanization along with the modernization of infrastructure has initiated a large number of new construction projects, thus propelling the need for SPF.
Recent growth in the retail sector has led to the establishment of new customer care centers, warehouses, and distribution centers. Giants such as Amazon are investing large funds to develop new-generation multi-story warehouses. This scenario is expected to pave the way for segment growth.
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Europe spray polyurethane foam market value is poised to reach USD 785 million by 2032. Economic development and increasing industrial output will offer lucrative application scope for spray polyurethane foam. The introduction of stringent environmental regulations and ambitious strategies to reverse climate change will help proliferate the employment of SPF for the insulation of buildings in an energy-efficient manner. North America spray polyurethane foam for building & construction industry is expected to showcase a growth rate of around 5.4% over the coming years driven by increasing building construction and remodeling activities
On the contrary, strict policies are also expected to present challenges for SPF manufacturers in the region. However, the development of eco-friendly SPF could pick pace on account of surging green infrastructure and sustainability initiatives.
Spray Polyurethane Foam Market Share
Some of the leading companies in the global spray polyurethane foam market are'
- NCFI Polyurethanes
- BASF Corporation
- Lapolla Industries, Inc.
- Premium Spray Products
- Icynene Inc
- Demilec
- Rhino Linings Corporation
- CertainTeed Corporation
- Bayer Material Science
- The Dow Chemical Company
These companies are implementing strategic mergers and acquisitions.
Impact of COVID-19 Pandemic
The COVID-19 pandemic had a slightly negative impact on the spray polyurethane foam industry. The imposition of lockdown and social distancing norms forced industrial and manufacturing activities to shut down across construction businesses. Unprecedented disruptions in the supply chain and volatile prices of raw materials further hampered the business of spray polyurethane foam companies. However, economic recovery and the resurgence of residential and commercial projects are expected to drive the need for spray polyurethane foam over the upcoming years.
The spray polyurethane foam market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo tons and revenue in USD Million from 2018 to 2032 for the following segments
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By Product
- Open cell
- Closed cell
- Others
By Application
- Residential walls
- Residential roofing
- Commercial walls
- Commercial roofing
- Others
The above information is provided on a regional and country basis for the following
- North America
- U.S.
- Canada
- Europe
- Germany
- Spain
- UK
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Indonesia
- Australia
- Malaysia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
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Table of Content
Report Content
Chapter 1 Methodology and Scope
1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast parameters & calculation
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 LATAM
1.3.5 MEA
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid Sources
1.4.2.2 Public Sources
Chapter 2 Executive Summary
2.1 Spray Polyurethane Foam Market 3600 synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Spray Polyurethane Foam Market Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 - 2032
3.2.1 COVID-19 impact on the industry landscape
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.1.1 Growth construction industry in Asia Pacific and North America
3.4.1.2 Stringent government regulations regarding energy efficiency
3.4.2 Industry pitfalls & challenges
3.4.2.1 Volatile raw material prices
3.4.2.2 Occupational health hazards associated with the product
3.5 Growth potential analysis
3.6 Technology trends
3.7 Regulatory landscape
3.7.1 U.S.
3.7.2 Europe
3.7.3 China
3.8 Regional price trends
3.8.1 COVID-19 impact on pricing
3.8.2 Cost structure analysis
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.11 PESTEL analysis
3.12 COVID-19 impact on application
3.12.1 Residential walls
3.12.2 Residential roofing
3.12.3 Commercial walls
3.12.4 Commercial roofing
3.12.5 Others
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players
4.4 Vendor adoption matrix
4.5 Strategic outlook matrix
Chapter 5 Spray Polyurethane Foam Market, By Product
5.1 Key product trends
5.2 Open cell
5.2.1 Market estimates and forecast, 2018 – 2032
5.2.2 Market estimates and forecast, by region, 2018 – 2032
5.3 Closed cell
5.3.1 Market estimates and forecast, 2018 – 2032
5.3.2 Market estimates and forecast, by region, 2018 – 2032
5.4 Others
5.4.1 Market estimates and forecast, 2018 – 2032
5.4.2 Market estimates and forecast, by region, 2018 – 2032
Chapter 6 Spray Polyurethane Foam Market, By Application
6.1 Key application trends
6.2 Residential walls
6.2.1 Market estimates and forecast, 2018 – 2032
6.2.2 Market estimates and forecast, by region, 2018 – 2032
6.3 Residential roofing
6.3.1 Market estimates and forecast, 2018 – 2032
6.3.2 Market estimates and forecast, by region, 2018 – 2032
6.4 Commercial walls
6.4.1 Market estimates and forecast, 2018 – 2032
6.4.2 Market estimates and forecast, by region, 2018 – 2032
6.5 Commercial roofing
6.5.1 Market estimates and forecast, 2018 – 2032
6.5.2 Market estimates and forecast, by region, 2018 – 2032
6.6 Others
6.6.1 Market estimates and forecast, 2018 – 2032
6.6.2 Market estimates and forecast, by region, 2018 – 2032
Chapter 7 Spray Polyurethane Foam Market, By Region
7.1 Key regional trends
7.2 North America
7.2.1 Market estimates and forecast, 2018 – 2032
7.2.2 Market estimates and forecast, by product, 2018 – 2032
7.2.3 Market estimates and forecast, by application, 2018 – 2032
7.2.4 U.S.
7.2.4.1 Market estimates and forecast, 2018 – 2032
7.2.4.2 Market estimates and forecast, by product, 2018 – 2032
7.2.4.3 Market estimates and forecast, by application, 2018 – 2032
7.2.5 Canada
7.2.5.1 Market estimates and forecast, 2018 – 2032
7.2.5.2 Market estimates and forecast, by product, 2018 – 2032
7.2.5.3 Market estimates and forecast, by application, 2018 – 2032
7.3 Europe
7.3.1 Market estimates and forecast, 2018 – 2032
7.3.2 Market estimates and forecast, by product, 2018 – 2032
7.3.3 Market estimates and forecast, by application, 2018 – 2032
7.3.4 Germany
7.3.4.1 Market estimates and forecast, 2018 – 2032
7.3.4.2 Market estimates and forecast, by product, 2018 – 2032
7.3.4.3 Market estimates and forecast, by application, 2018 – 2032
7.3.5 UK
7.3.5.1 Market estimates and forecast, 2018 – 2032
7.3.5.2 Market estimates and forecast, by product, 2018 – 2032
7.3.5.3 Market estimates and forecast, by application, 2018 – 2032
7.3.6 France
7.3.6.1 Market estimates and forecast, 2018 – 2032
7.3.6.2 Market estimates and forecast, by product, 2018 – 2032
7.3.6.3 Market estimates and forecast, by application, 2018 – 2032
7.3.7 Spain
7.3.7.1 Market estimates and forecast, 2018 – 2032
7.3.7.2 Market estimates and forecast, by product, 2018 – 2032
7.3.7.3 Market estimates and forecast, by application, 2018 – 2032
7.3.8 Italy
7.3.8.1 Market estimates and forecast, 2018 – 2032
7.3.8.2 Market estimates and forecast, by product, 2018 – 2032
7.3.8.3 Market estimates and forecast, by application, 2018 – 2032
7.4 Asia Pacific
7.4.1 Market estimates and forecast, 2018 – 2032
7.4.2 Market estimates and forecast, by product, 2018 – 2032
7.4.3 Market estimates and forecast, by application, 2018 – 2032
7.4.4 China
7.4.4.1 Market estimates and forecast, 2018 – 2032
7.4.4.2 Market estimates and forecast, by product, 2018 – 2032
7.4.4.3 Market estimates and forecast, by application, 2018 – 2032
7.4.5 Japan
7.4.5.1 Market estimates and forecast, 2018 – 2032
7.4.5.2 Market estimates and forecast, by product, 2018 – 2032
7.4.5.3 Market estimates and forecast, by application, 2018 – 2032
7.4.6 India
7.4.6.1 Market estimates and forecast, 2018 – 2032
7.4.6.2 Market estimates and forecast, by product, 2018 – 2032
7.4.6.3 Market estimates and forecast, by application, 2018 – 2032
7.4.7 Australia
7.4.7.1 Market estimates and forecast, 2018 – 2032
7.4.7.2 Market estimates and forecast, by product, 2018 – 2032
7.4.7.3 Market estimates and forecast, by application, 2018 – 2032
7.4.8 Indonesia
7.4.8.1 Market estimates and forecast, 2018 – 2032
7.4.8.2 Market estimates and forecast, by product, 2018 – 2032
7.4.8.3 Market estimates and forecast, by application, 2018 – 2032
7.4.9 Malaysia
7.4.9.1 Market estimates and forecast, 2018 – 2032
7.4.9.2 Market estimates and forecast, by product, 2018 – 2032
7.4.9.3 Market estimates and forecast, by application, 2018 – 2032
7.5 Latin America (LATAM)
7.5.1 Market estimates and forecast, 2018 – 2032
7.5.2 Market estimates and forecast, by product, 2018 – 2032
7.5.3 Market estimates and forecast, by application, 2018 – 2032
7.5.4 Brazil
7.5.4.1 Market estimates and forecast, 2018 – 2032
7.5.4.2 Market estimates and forecast, by product, 2018 – 2032
7.5.4.3 Market estimates and forecast, by application, 2018 – 2032
7.5.5 Mexico
7.5.5.1 Market estimates and forecast, 2018 – 2032
7.5.5.2 Market estimates and forecast, by product, 2018 – 2032
7.5.5.3 Market estimates and forecast, by application, 2018 – 2032
7.6 Middle East & Africa (MEA)
7.6.1 Market estimates and forecast, 2018 – 2032
7.6.2 Market estimates and forecast, by product, 2018 – 2032
7.6.3 Market estimates and forecast, by application, 2018 – 2032
7.6.4 Saudi Arabia
7.6.4.1 Market estimates and forecast, 2018 – 2032
7.6.4.2 Market estimates and forecast, by product, 2018 – 2032
7.6.4.3 Market estimates and forecast, by application, 2018 – 2032
7.6.5 South Africa
7.6.5.1 Market estimates and forecast, 2018 – 2032
7.6.5.2 Market estimates and forecast, by product, 2018 – 2032
7.6.5.3 Market estimates and forecast, by application, 2018 – 2032
Chapter 8 Company Profiles
8.1 BASF Corporation
8.1.1 Business overview
8.1.2 Financial data
8.1.3 Product landscape
8.1.4 Strategic outlook
8.1.5 SWOT analysis
8.2 Lapolla Industries, Inc
8.2.1 Business overview
8.2.2 Financial data
8.2.3 Product landscape
8.2.4 Strategic outlook
8.2.5 SWOT analysis
8.3 Bayer Material Science
8.3.1 Business overview
8.3.2 Financial data
8.3.3 Product landscape
8.3.4 Strategic outlook
8.3.5 SWOT analysis
8.4 NCFI Polyurethanes
8.4.1 Business overview
8.4.2 Financial data
8.4.3 Product landscape
8.4.4 SWOT analysis
8.5 Icynene Inc
8.5.1 Business overview
8.5.2 Financial data
8.5.3 Product landscape
8.5.4 SWOT analysis
8.6 Demilec
8.6.1 Business overview
8.6.2 Financial data
8.6.3 Product landscape
8.6.4 SWOT analysis
8.7 Premium Spray Products
8.7.1 Business overview
8.7.2 Financial data
8.7.3 Product landscape
8.7.4 Strategic outlook
8.7.5 SWOT analysis
8.8 Rhino Linings Corporation
8.8.1 Business overview
8.8.2 Financial data
8.8.3 Product landscape
8.8.4 Strategic outlook
8.8.5 SWOT analysis
8.9 CertainTeed Corporation
8.9.1 Business overview
8.9.2 Financial data
8.9.3 Product landscape
8.9.4 Strategic outlook
8.9.5 SWOT analysis
8.10 The Dow Chemical Company
8.10.1 Business overview
8.10.2 Financial data
8.10.3 Product landscape
8.10.4 SWOT analysis
8.11 Specialty Products Inc
8.11.1 Business overview
8.11.2 Financial Data
8.11.3 Product landscape
8.11.4 SWOT analysis
8.12 Covestro LLC
8.12.1 Business overview
8.12.2 Financial data
8.12.3 Product landscape
8.12.4 Strategic outlook
8.12.5 SWOT analysis
8.13 Foam Supplies Inc
8.13.1 Business overview
8.13.2 Financial data
8.13.3 Product landscape
8.13.4 Strategic outlook
8.13.5 SWOT analysis
8.14 International Cellulose Corp
8.14.1 Business overview
8.14.2 Financial data
8.14.3 Product landscape
8.14.4 Strategic outlook
8.14.5 SWOT analysis
8.15 Mitex International Inc
8.15.1 Business overview
8.15.2 Financial data
8.15.3 Product landscape
8.15.4 SWOT analysis