Global Semi-Rigid Spray Polyurethane Foam Market Size By Type(Commercial buildings, Industrial buildings, Residential buildings), By Application(Wall, Floor, Roof), By Geographic Scope And Forecast
Global Semi-Rigid Spray Polyurethane Foam Market Size By Type(Commercial buildings, Industrial buildings, Residential buildings), By Application(Wall, Floor, Roof), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Semi-Rigid Spray Polyurethane Foam Market Size and Forecast
Semi-Rigid Spray Polyurethane Foam Market size was valued at USD 630 billion in 2021, it is expected to reach USD 1250 billion by the end of 2030, growing at at a CAGR of 4.2% from 2023 to 2030.
There are several drivers of growth for the semi-rigid spray polyurethane foam (SPF) market. One of the primary drivers is the increasing demand for energy-efficient building materials. As energy costs continue to rise and regulations on building energy efficiency become stricter, builders and homeowners are looking for insulation materials that can help reduce energy consumption and lower utility bills. The Global Semi-Rigid Spray Polyurethane Foam Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Semi-rigid spray polyurethane foam (SPF) is a type of insulation material used in the construction industry. It is a two-component mixture that is sprayed onto surfaces and then expands to form a semi-rigid foam. The material is known for its thermal insulation properties, as well as its ability to provide a seamless air barrier, which helps to prevent energy loss and increase building efficiency.
The semi-rigid nature of the foam allows it to be used in a variety of applications, including roofs, walls, and floors. It is also used in the transportation industry for insulation in vehicles such as trucks and buses. The market for semi-rigid SPF has been growing steadily in recent years due to increasing demand for energy-efficient building materials and stricter building codes and regulations. Hence, the semi-rigid SPF market is expected to continue to grow in the coming years as more builders and architects seek out energy-efficient and sustainable building solutions.
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The COVID-19 pandemic has had a mixed impact on the semi-rigid spray polyurethane foam (SPF) market. On one hand, the construction industry, which is a major end-user of SPF, was significantly impacted by the pandemic as many construction projects were delayed or canceled due to supply chain disruptions, labor shortages, and social distancing requirements. This led to a decrease in demand for SPF and a slowdown in market growth.
The semi-rigid spray polyurethane foam (SPF) market is growing for a few key reasons. First off, people really want building materials that save energy! As energy prices keep climbing and the rules about how energy-efficient buildings need to be get tougher, builders and homeowners are hunting for insulation that helps them use less energy and pay less on their bills. Semi-rigid SPF is great because it keeps heat in (or out!) and blocks air leaks, so it's a popular choice if you're looking to save energy. Plus, tech is making SPF better! New blowing agents and spraying equipment mean it's now cheaper and easier to make, which is also helping the market grow.
Okay, so the semi-rigid spray polyurethane foam (SPF) market? It's got a few hurdles to jump. First off, there's the price. SPF can be pricey compared to old-school stuff like fiberglass or cellulose. That can scare off builders and homeowners, especially when they're watching every penny on a project. Then there's the raw material situation. Making SPF needs specific chemicals, and if those get expensive or hard to find, it can really mess with pricing and supply. But hey, it's not all doom and gloom! There are some cool things happening that could boost the SPF market. For example, companies are looking into making bio-based SPF. Think using soy or castor oil instead of traditional stuff. That'd be way better for the environment, right? Plus, more and more vehicles are using SPF for insulation. As everyone wants lighter, more fuel-efficient cars and trucks, that demand is only going to grow. So, there are some interesting opportunities out there!
The residential and commercial buildings segment is dominating the other segments and it is anticipated to grow more in the forecast period. The increasing demand for insulation, as well as sealing, is boosting the growth in these segments followed by the industrial, institutional, and agricultural buildings segments.
Semi-Rigid Spray Polyurethane Foam Market, By Application
• Wall• Floor• Roof
It can be analyzed that the wall segment holds more than 50% of the market share and growing at healthy rates in the global market. However, the floor and roof segments are also developing and are expected to attain better positions in the market.
Semi-Rigid Spray Polyurethane Foam Market, By Geography
• Europe• North America• Asia-Pacific• Latin America• Middle East Asia
The European market holds the largest market share and it is anticipated to grow more in the forecast period. This is mostly attributed to the region’s increased need for energy-efficient infrastructure and support government regulations. Also, buildings utilize more than 40% of all energy consumed, producing 35% of greenhouse gas emissions in the process. This increases the demand for products and stimulates the expansion of the local market.
Key Players
The major players in the Semi-rigid spray polyurethane foam market include Gaco Western, Lapolla Industries Inc., Rhine Linings Corporation, BASF Corporation, Premium Spray Products, Mitex International, Honeywell, CertainTeed Corporation, Foam Supplies, and The Dow Chemical Company.
These companies are further focusing on commercial development through strategic partnerships and collaborations.
Key Developments
• In February 2023, BASF Corporation announced it to follow a sustainability roadmap in order to produce climate-friendly products.
• In 2020, Lapolla Industries Inc, announced to develop better quality spray foam with a strategic partnership with Demilec.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Gaco Western, Lapolla Industries Inc., Rhine Linings Corporation, BASF Corporation, Premium Spray Products, Mitex International, Honeywell, CertainTeed Corporation, Foam Supplies, and The Dow Chemical Company.
SEGMENTS COVERED
By Type, By Application, and By Geography.
CUSTOMIZATION SCOPE
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