Pune India, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the spray polyurethane foam market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the spray polyurethane foam market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product, application, and region. The key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the paragraphs below.
The significant players operating 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, among other. To achieve a substantial market share in the worldwide spray polyurethane foam market and strengthen their position, manufacturers are expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
When two substances, salt, and polyol rosin, are combined, they react to form spray foam, which when applied to a surface expands up to 30–60 times its liquid volume. Spray Insulation for buildings is typically made of polyurethane in more traditional techniques. An energy crisis has emerged due to the rapid depletion of non-renewable energy sources and the heavy consumption of fossil fuels. Spray polymer foams have greatly improved recently as a result of their reduced energy loss. They are also employed in insulating constructions to cover up flaws, cracks, and gaps in walls and ceilings. These are also used as a water barrier and as a protective material while building walls and roofs. Due to strict government regulations and requirements for energy use in buildings, the U.S. and the Asia-Pacific region both have booming construction sectors, which could provide market growth throughout the forecast period. Since a few years ago, spray polyurethane has been used in insulating applications, and demand has grown steadily over time. Spray polyurethane insulation, however, had exponential expansion during the previous ten years. Systems using spray polyurethane are the best solution to meet extremely high insulation criteria while also effectively controlling the release of undesired air and avoiding condensation.
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Scope of Spray Polyurethane Foam Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | 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, among other. |
Segmentation Analysis
The open cell segment is expected to be the fastest-growing segment in 2022.
The product segment is closed cell and open cell. The open cell segment is expected to witness the highest growth rate during the forecast period. Spray polyurethane foam is one of the cellular products. The cell designs, and more especially, the open (closed) cell content, would have a substantial impact on the performance of the finished product and its intended uses. Open-cell polyurethane foam is less expensive, more flexible, and more moisture-resistant than closed-cell polyurethane foam. They enhance the comfort, quietness, and energy efficiency of residential and commercial structures in comparison to what closed-cell spray polyurethane foam provides. Open-cell spray polyurethane foam, which is mostly utilized for residential applications, dominates the spray polyurethane foam market on a global scale. Open-cell is a material that is frequently utilized in building interiors because of its air and moisture permeability.
The walls segment is expected to be the fastest-growing segment in 2022.
The application segment is roofing, walls, and others. The walls segment is expected to witness the highest growth rate during the forecast period. Rising energy conservation demands, better wall thermal performance, fire protection, termite control, and moisture management are the main market drivers in this industry.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the emulsion stabilizer include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. China's economy is the largest in the Asia-Pacific region in terms of GDP. The economy is realigning from manufacturing to services, external to domestic demand, and investment to consumption as the country's growth continues to be strong but gradually slows down. According to the 14th Five-Year Plan, China wants 65% of its population to live in cities permanently by 2025, which is expected to boost demand for the industry under research in the years to come. Investments in the transportation sector have grown recently.
Country Analysis
- Germany
Germany's spray polyurethane foam market size was valued at USD 0.33 billion in 2022 and is expected to reach USD 0.46 billion by 2030, at a CAGR of 4.5% from 2023 to 2030. As a result of more stringent government regulations governing energy efficiency, more government incentives and laws supporting energy-efficient infrastructure, and a rise in the use of polyurethane foams for building insulation in this region.
- China
China’s spray polyurethane foam market size was valued at USD 0.51 billion in 2022 and is expected to reach USD 0.80 billion by 2030, at a CAGR of 5.8% from 2022 to 2030. Investments in the transportation sector have grown recently. The National Development and Reform Commission (NDRC) and the Ministry of Transport (MoT) of China propose to make major investments in a number of important transportation projects, including airports, canals, railways, and urban rail, in the following years. The Indian vehicle sector, including component output, is expected to reach USD 251.4-282.8 billion by 2026, according to IBEF analysis.
- India
India's spray polyurethane foam market size was valued at USD 0.44 billion in 2022 and is expected to reach USD 0.650 billion by 2030, at a CAGR of 5% from 2023 to 2030. The spray polyurethane foam market is primarily driven by three factors: an increase in the skillfulness and distinctive physical properties of polyfoams, as well as an increase in demand for insulating applications in the closed-cell phase. Polymer foams are being used more frequently in building insulation for energy efficiency.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of spray polyurethane market is mainly driven by owing to the expansion of the construction sector in both established and developing nations. Additionally, growing concerns about greenhouse gas emissions will support the spray polyurethane foam market expansion during the next ten years.
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