Selbyville, Delaware, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Spray Polyurethane Foam Market is poised to exceed USD 3 billion by 2032.
Spray polyurethane foam (SPF), also known as spray foam insulation, is used as a sealant or an insulator and primarily consists of polyol resins and isocyanate. The components are responsible for ensuring durability, low thermal conductivity, great tear resistance, and flexibility of SPF. In recent years, bio-based polyols and green PU flexible or rigid foams have gained significant demand for insulating building structures, furniture, and bedding.
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Spray polyurethane foam market share from closed-cell SPF segment is expected to record over 5.5% CAGR between 2023-2032. Closed-cell SPF offers exceptional performance with minimal heat transfer, air leakage, and moisture retention along with greater racking strength. Better coefficient of friction, strength, and tear resistance are some of the advantages associated with the application of closed-cell SPF. They are lighter than solids and non-porous in nature, thus ensuring limited permeability to external factors. Closed-cell spray foam is widely used to insulate vans, smaller houses, mobile homes, vehicle transformations, and even agricultural structures.
Residential walls application was USD 600 million in 2022. Increasing the construction of residential buildings in developing countries will fuel the demand for SPF. Advancements in novel SPF products with higher thermal insulation properties and affordable pricing models will positively influence the industry outlook. The interior residential walls of houses require thermal as well as sound insulation. SPF products meet both these requirements and are often used to insulate concrete slabs depending on their mechanical resistance needs. They can also be applied on concrete ceilings, for instance in basements or to insulate the living area of houses.
Browse key industry insights spread across 150 pages with 139 market data tables and 26 figures & charts from the report “Spray Polyurethane Foam Market Statistics By Product (Open cell, Closed cell), Application (Residential walls, Residential roofing, Commercial walls, Commercial roofing), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/spray-polyurethane-foam-spf-market
Asia Pacific spray polyurethane foam market is projected to exhibit over 5% CAGR between 2023-2032. The increasing urban population in developing countries such as China and India are expected to offer lucrative opportunities for SPF manufacturers. SPF is widely used across a broad spectrum of applications including furniture, bedding, construction, electronics, packaging, and footwear. Manufacturers of SPF have entered a series of partnerships with end-user industries.
The competitive landscape of the global spray polyurethane foam market is inclusive of companies like BASF Corporation, Lapolla Industries, Inc., CertainTeed Corporation, Bayer Material Science, NCFI Polyurethanes, Icynene Inc, Demilec, Premium Spray Products, Rhino Linings Corporation, and The Dow Chemical Company.
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These players are focusing on technological advancements and the development of innovative products. For instance, in August 2021, Huntsman Corp. announced plans to expand its manufacturing facility in Petfurdo, Hungary to meet the demand for specialty amines that are used to make energy-efficient spray foam insulation for buildings.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
