Chicago, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The global spray polyurethane foam market is projected to grow from USD 2.4 billion in 2022 to USD 4.6 billion by 2030, at a CAGR of 8.3% during the forecast period, as per the recent study by MarketsandMarkets™. Growth in the construction sector along with economic developments in emerging economies is expected to drive the spray polyurethane foam market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=120807782
Browse in-depth TOC on "Spray Polyurethane Foam Market”
167 - Market Data Tables
32 - Figures
List of Key Players in Spray Polyurethane Foam Market:
- BASF SE (Germany)
- Saint-Gobain (France)
- Johns Manville (US)
- Honeywell International Inc. (US)
- Covestro AG (Germany)
Drivers, Restraints, Opportunities and Challenges in Spray Polyurethane Foam Market:
- Drivers: Growth in construction sector
- Opportunity: Stringent regulations of the government regarding energy efficiency
- Challenges: Fluctuation in raw material prices
Key Findings of the Study:
- The insulation segment, by application, is expected to account for the largest market share during the forecast period.
- Open-cell segment, by type, is expected to account for the largest share of the spray polyurethane foam market, during the forecast period.
- Based on product, two-component high-pressure segment is expected to account for the largest market share during the forecast period.
- Asia Pacific region is expected to be the fastest growing spray polyurethane foam market.
Get Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=120807782
The insulation segment, by application, is expected to account for the largest market share during the forecast period
Based on application, the spray polyurethane foam market is segmented into insulation, waterproofing, roofing, asbestos encapsulation, sealant, and others. Insulation accounted for the largest share in the spray polyurethane foam market in 2021. Spray polyurethane foam systems is an effective way to meet stringent insulation requirements while also controlling excessive air leakage and preventing condensation. Since the foam seals all holes and molds to all contours, the insulation performance is among the highest accessible. Hence, spray polyurethane foam market is expected to grow in the forecast period with the rising demand for spray polyurethane foam for insulation applications.
Open-cell segment, by type, is expected to account for the largest share of the spray polyurethane foam market, during the forecast period
Based on type, the spray polyurethane foam market is segmented into open-cell and closed-cell. Open-cell spray polyurethane foam accounted for the largest market segment based on type. Open-cell spray polyurethane foam is cost-effective, flexible, and offers higher moisture resistance than closed-cell spray polyurethane foam. This makes it ideal for use in residential & commercial interior applications, thus directly propelling the industry growth by 2030.
Based on product, two-component high-pressure segment is expected to account for the largest market share during the forecast period
Spray polyurethane foam market is classified based on product into two-component high-pressure spray foam, two-component low-pressure spray foam, and one-component foam. Among these, two-component high-pressure spray foam holds a dominating market share for the spray polyurethane foam market. These systems are more frequently employed for insulating bigger areas on new construction or major renovations on walls and roofs. Thus, growing infrastructure in countries such as India and China, is expected to drive the growth of two-component high-pressure segment of the spray polyurethane foam market.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=120807782
Asia Pacific region is expected to be the fastest growing spray polyurethane foam market
Asia Pacific is expected to lead the spray polyurethane foam market during the forecast period by value. This demand can be attributed to the rapidly growing construction sector in emerging economies such as China and India, that has made Asia Pacific a huge market for spray polyurethane foam. China is one of the largest markets for spray polyurethane foam across the globe and is expected to contribute a major portion to the overall regional demand for spray polyurethane foam during the forecast period.
Browse Adjacent Markets Specialty Chemicals Market Research Reports & Consulting
Related Reports:
