[Research Report] Spray Foam Insulation Market Size & Share

NEW YORK, United States, May 15, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Spray Foam Insulation Market By End-Use (Commercial, Residential, And Others), By Product Type (Open Cell, And Closed Cell), By Application (Concrete Rehabilitation, Roof Insulation, And Wall Insulation), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Spray Foam Insulation Market size & share in terms of revenue was valued at USD 1.39 billion in 2021 and it is expected to surpass around USD 2.71 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 6.35% during the forecast period 2022 to 2028.”

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What is Spray Foam Insulation? How big is the Spray Foam Insulation Industry?

Report Overview:

Spray foam is made of two compounds namely polyol and isocyanate resin. When these two compounds are mixed, they react and form a mixture that can expand up to 60 to 80 times its liquid volume after being sprayed on a certain area. This attribute helps the mixture to be used as a thermal insulator with no scope of air infiltration

Spray foam insulators are unlike the traditional forms of space insulation since they virtually insulate any cavity including floor, ceiling, walls, space in the wardrobe, attics, and other forms of crawl space. There are two main types of spray foam insulation; open-cell system and closed-cell system, where the former is less expensive but exhibits excellent air-sealing properties. Although this system allows water to pass through it, the liquid is not soaked up during the process. Whereas, closed-cell systems are more durable and can be left exposed without any extra covering. It is more widely used for small-scale projects since it does not have a high expansion rate.

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During the pandemic, the global market cap was severely impacted as a result of the prohibition on the unnecessary movement of people and a general hesitancy to come in proximity of non-related people. There were production concerns caused by the non-availability of enough resources including manpower as well as delay in various large-scale projects requiring spray foam insulation.

Our Free Sample Report Consists of the Following:

Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
About 168+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on Request
Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
Includes Tables and figures have been updated
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Zion Market Research Methodology

Global Spray Foam Insulation Market Dynamics:

The global spray foam insulation market is projected to be dominated by the increasing construction and restoration work witnessed across the globe which is a direct consequence of modernization and industrialization. As per official statistics, more than 63.5% of the developing nations are predicted to be urbanized by 2050 with more than 85% of the world population living in modernized space.

This in turn is expected to propel the demand for better insulation techniques as the energy consumption levels go further up resulting in better ways of improving energy efficiency. The global market cap may also witness high growth due to increasing development activities in the production and manufacturing of spray foam insulation to tackle the health concerns over the VOC gasses found in the systems.

Since spray foam insulation not only provides thermal insulation, it can also reduce mold growth, and stop drafts amongst other benefits, they are highly preferred in the construction or restoration business.

The presence of high volatile organic compounds (VOC) may restrict global market growth while growing research and development is expected to open new doors for expansion. The presence of low-quality suppliers is a major challenge for global market leaders.

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Report Scope

Report Attribute	Details
Market Size in 2021	USD 1.39 Billion
Projected Market Size in 2028	USD 2.71 Billion
CAGR Growth Rate	6.35% CAGR
Base Year	2021
Forecast Years	2022-2028
Key Market Players	EnergyGuard Foam Insulators, Huntsman International LLC., NCFI Polyurethanes, Covestro AG, BASF SE, LP, Lapolla Industries, and Recticel.
Key Segment	By End-Use, By Product Type, By Application and By Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options	Request customized purchase options to meet your research needs. Explore purchase options

Spray Foam Insulation Market: Segmentation Analysis

The global spray foam insulation market is segmented based on end-use, product type, application, and region.

Based on end-use, the global market segments are commercial, residential, and others. Currently, the global market generates more revenue from the commercial segment owing to the high application of the insulation method. Since energy consumption in commercial space is higher than in residential space, energy efficiency is highly regulated in the workspace. The cost of spray foam insulation may vary between USD 1283 to USD 3700 depending on the requirement.

Based on product type, the global market is segmented into an open cell and closed cell, with the latter leading the global market owing to its durability and non-permeability to vapor. The closed cells system does not hold water, making it an ideal choice in commercial settings. R-value, a thermal resistance unit used for comparing insulation properties of various materials, for spray foam insulation is R-6.5-7 per inch.

Based on application, the global market is segmented into concrete rehabilitation, roof insulation, and wall insulation. The global market generates the highest revenue from wall insulation as it is one of the easiest methods of insulation in existing structures. As per official reports, both forms of spray foam insulation can last between 80 to 100 years, with closed-cell systems exceeding open-cell systems.

The global Spray Foam Insulation market is segmented as follows:

By End-Use

Commercial
Residential
Others

By Product Type

Open Cell
Closed Cell

By Application

Concrete Rehabilitation
Roof Insulation
Wall Insulation

Browse the full “Spray Foam Insulation Market By End-Use (Commercial, Residential, and Others), By Product Type (Open Cell, and Closed Cell), By Application (Concrete Rehabilitation, Roof Insulation, and Wall Insulation), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.”-Report at https://www.zionmarketresearch.com/report/spray-foam-insulation-market

Competitive Landscape

Some of the main competitors dominating the global Spray Foam Insulation market include -

EnergyGuard Foam Insulators
Huntsman International LLC.
NCFI Polyurethanes
Covestro AG
BASF SE
LP
Lapolla Industries
Recticel

Key Insights from Primary Research:

According to the analysis shared by our research analyst, the Spray Foam Insulation market is likely to expand at a CAGR of around 6.35% during the forecast period (2022-2028).
In terms of revenue, the Spray Foam Insulation market size was valued at around US$ 1.39 billion in 2021 and is projected to reach US$ 2.71 billion by 2028.
Due to a variety of driving factors, the market is predicted to rise at a significant rate. The global spray foam insulation market is projected to grow owing to the increasing demand to achieve energy efficiency in residential and commercial spaces.
Based on end-use segmentation, the commercial segment was predicted to show maximum market share in the year 2021.
Based on product type segmentation, the closed cell was the leading type in 2021.
On the basis of region, North America was the leading revenue generator in 2021.

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Key questions answered in this report:

What is the market size and growth rate forecast for Spray Foam Insulation industry?
What are the main driving factors propelling the Spray Foam Insulation Market forward?
What are the leading companies in the Spray Foam Insulation Industry?
What segments does the Spray Foam Insulation Market cover?
How can I receive a free copy of the Spray Foam Insulation Market sample report and company profiles?

Key Offerings:

Market Size & Forecast by Revenue | 2022−2028
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis By End-Use, By Product Type, By Application and By Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is projected to lead the global spray foam insulation market driven by the real estate, construction, and restoration business in the US and Canada. As of 2022, the real estate market in the US is valued at USD 227 billion and contributed between 14 to 18% of the country’s gross domestic product (GDP). The growing economy may further fuel the market in the coming years.

Growth in Europe is projected to be driven by the increasing product application across residential and commercial spaces. The region’s building restoration market may generate a revenue of USD 1000 billion by 2026, due to the massive amount spent on restoring historic buildings that act as major tourist attractions. The Asia-Pacific market is projected to be driven by the rising construction business which has been growing at a CAGR of 4% from 2017 until 2022.

By Region

North America
- U.S.
- Canada
- Rest of North America
Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America

Recent Developments

In January 2021, JM announced the launch of new spray foam with the addition of JMCorbond® IV Closed-Cell Spray Polyurethane Foam
In July 2022, HD Horne Sprayfoam & Insulation Ltd. announced its intention to make changes to the company’s logo and website

To know an additional revised 2022 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/spray-foam-insulation-market

FREQUENTLY ASKED QUESTIONS:

Which key factors will influence spray foam insulation market growth over 2022-2028?
What will be the value of the spray foam insulation market during 2022-2028?
Which region will contribute notably towards the spray foam insulation market value?
Which are the major players leveraging the spray foam insulation market growth?

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