Spray Polyurethane Foam Market

Spray Polyurethane Foam Market Size

Spray polyurethane foam market is expected to exceed USD 2.8 billion by 2030 from USD 1.3 billion in 2019 at a CAGR of 7.10% throughout the forecast period i.e. 2020-2030

Spray polyurethane foam is a padding that is spurted on the interior components of a building (e.g., walls, roofs, and floors). Spray polyurethane foam acts as an air obstacle that averts thermal leakages. Spray polyurethane foam is generated by two liquid elements, polyol blend, and MDI, which are assorted under pressure and spurted onto a wall opening or roof. The utilization of spray polyurethane foam diminishes the overall conservation cost, prolongs the life period of a building, and enables the suppleness of building design. The spray polyurethane foam appears in two forms such as open-cell foam and closed-cell foam. Out of these, open-cell foam also referred to as half-pound or low mass foam is estimated to acquire footing in the approaching years due to its broad purpose in building interiors.

Market Highlights

Spray polyurethane foam market is expected to project a CAGR of 7.10% during the forecast period, 2020-2030

The market is anticipated to grow on the back of growing end-use industries in the developing regions and increasing demand for polyurethane foam in building insulation for energy saving. The rise in the market is driven by many aspects like substituting green building methods, aging health determined population, government protocols, raised demand for bio-based products, and higher cognizance among end-users about the energy consumption in the building. The restraining factors of the spray polyurethane foam market are the risks it professes to human health. The remaining ones stay in the natural surrounding for a course of time from the time it is smeared on the walls, and the disclosures of the leftovers of the chemicals present in vapors, aerosols, dust, or on the surfaces impact health and initiates long-lasting diseases like asthma. This factor is hindering the market.

Global Spray Polyurethane Foam Market: Segments

The Open Cell segment to grow with the fastest CAGR of xx% during 2020-2030

The global spray polyurethane foam market is segmented by Product Type into Open Cell, Closed Cell, Two-component High-Pressure Spray Foam, Two-component Low-Pressure Spray Foam, and One Component Foam, and Others. Among these, the open cell segment is estimated to hold the largest market share of xx% in 2019. Open cell is widely used in building interiors which assists it to hold more than half of the product market share and is projected to grow at a substantial rate amidst the forecasted period. These foams are penetrable to water vapor and air and their sponge-like design make them appropriate for commercial and residential interior applications.

The Commercial Walls segment to boost at the fastest CAGR of xx% during 2020-2030

The global spray polyurethane foam market is segmented by Application into Residential Walls, Residential Roofing, Commercial Walls, Commercial Roofing, Insulation, Waterproofing, Asbestos Encapsulation, Sealant, and Other Applications. Among these, the segment of the commercial wall is witnessed to hold the largest market share of xx% in the year 2019. Commercial walls have been producing high incomes over years and are estimated to progress at a significant rate during the forecast period. This segment’s rise will be further boosted by rising energy saving needs and other benefits such as thermal functioning, fire safety, termite management, and moisture handling.

The Building & Construction segment to boost at the fastest CAGR of xx% during 2020-2030

The global spray polyurethane foam market is segmented by End-use Industries into Bedding & Furniture, Building & Construction, Electronic, Automotive Industries, Footwear, Packaging, Textiles & apparel, Electric Appliances, and Transportation. Among these, the building & construction segment is witnessed to hold the largest market share of xx% in the year 2019. This huge portion is mainly pushed by the rise in the application of polyurethane foam based on the increasing demand for insulation from the building & construction sector.

Market Dynamics

Driver

Growing End-use Industries in Developing Regions

Spray polyurethane foam is broadly used in fixtures, housing & structure, electronic, and automobile companies. Spray polyurethane foam is primarily consumed in the automobile industry for softening. It is one of the key operational insulation supplies affordable, making it appropriate for the electronics sector, particularly in fridges and freezers. The structural sector is a primary operator of spray polyurethane foam in the form of rigid foam, coatings, and sealants & adhesives.

Increasing Demand for Polyurethane Foam in Building Insulation for Energy Saving

Spray polyurethane foam is an extremely elastic component that assists in lowering the overall structural cost and energy depletion and is utilized in numerous sectors, such as construction, furniture, bedding, automotive, binding, and many other sectors. PU foam facilitates architects in enhanced supervision of buildings, which decreases the utilization of gas, oil, and electricity. Polyurethanes are taken to be the most reasonable, sturdy, and secure way of lowering carbon secretions that cause global warming. This is so since these are easily accessible and cost-efficient prospects that last for a longer period, and are utilized for energy saving, resulting in the reduction of carbon secretions.

Restraint

Strict Environmental Protocols on the Use of Spray Polyurethane Foams

Spray polyurethane foam is utilized in automobile and bedding & furniture applications. National Emission Standards for Hazardous Air Pollutants (NESHAP), environmental protocols by the US EPA involve some guidelines for advanced and ongoing plant locations that produce spray polyurethane foam. This guideline was adopted in 1998 for the management of the emanations of methylene chloride, 2,4-Toluene Diisocyanate (TDI), methyl chloroform, Methylene Diphenyl Diisocyanate (MDI), methanol, diethanolamine, propylene oxide, methyl ethyl ketone, and toluene.

Changing Prices of Raw Materials

Spray polyurethane foam is costly due to the altering raw material prices, which act as a key restraint for the market. The primary raw materials used for the manufacture of spray polyurethane foam comprise benzene, toluene, and phosgene. Alterations in the demand and supply of these raw materials could have a substantial effect on the spray polyurethane foam market. As benzene and toluene are obtained from crude oil, higher crude oil prices lead to a rise in the prices of benzene and toluene and as a result, MDI and TDI.

Global Spray Polyurethane Foam Market: Regions

Asia Pacific to surge at the highest CAGR of xx% during 2020-2030

Region-wise, the market for spray polyurethane foam across the globe is segmented into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. Among these, Asia Pacific is witnessed to constitute xx% of the total market share in the year 2019, owing to aspects such as the growing need for residences and commercial organizations, development in the population of India and China, China is the center for construction, and rise in structural projects.

The global spray polyurethane foam market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
• APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

Global Spray Polyurethane Foam Market: Key Players

• Rhino Linings Corporation

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• BASF
• Specialty Products Inc.
• Bayer Material Science
• Premium Spray Products
• CUFCA
• Huntsman International LLC
• NCFI Polyurethanes
• Certain Teed Corporation
• Icynene Inc.
• Lapolla Industries

The market report on global spray polyurethane foam also contains the following in-depth analysis:

Spray Polyurethane Foam Market Segments 

• By Product Type
  • Open Cell
  • Closed Cell
  • Two-component High-Pressure Spray Foam
  • Two-component Low-Pressure Spray Foam
  • One Component Foam
  • Others 
• By Application 
  • Commercial Walls
  • Commercial Roofing
  • Residential Walls
  • Residential Roofing
  • Insulation
  • Waterproofing
  • Asbestos Encapsulation
  • Sealants
  • Other Applications
• By End-use Industries 
  • Bedding & Furniture
  • Building & Construction
  • Electronic
  • Automotive Industries
  • Footwear
  • Packaging
  • Textiles & Apparels
  • Electric Appliances
  • Transportation
• By Region 
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
  • Asia Pacific 
• Spray Polyurethane Foam Market Dynamics
• Spray Polyurethane Foam Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints