Spray Polyurethane Foam Market Is Set to Expand Up to USD 1,823 Million by 2019, Report Says
ALBANY, NY – October 15, 2014 – According to a new market report published by Transparency Market Research "Spray Polyurethane Foam (Open Cell, Closed Cell and Others) Market for Residential Walls, Residential Roofing, Commercial Walls, Commercial Roofing and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,"the global spray polyurethane foam market was valued at USD 1,135.3 million in 2012 and is expected to reach USD 1,823 million by 2019, growing at a CAGR of 7.0% from 2013 to 2019. In terms of volume spray polyurethane foam consumption was 473.5 kilo tons in 2012.
Spray polyurethane foam (SPF) is an effective substitute for traditional insulation materials such as glass and metal. Higher efficiency and lower carbon footprint during production have been major factors driving the SPF market. In addition, increasing threat of energy crisis leading to stringent government regulations for energy efficient structures is expected to further augment the market growth. Isocyanates employed in the production of SPF cause severe occupational health hazards including asthma which has been a major factor restraining growth of the SPF market. Volatility of raw material prices has also restrained the demand for SPF. Developing low cost bio-based SPF is expected to offer huge growth opportunities in the market.
Open-cell and closed-cell SPF together constitute over 90% of the global demand for SPF and the trend is expected to continue during the forecast period. Growing demand for residential applications in developed countries is expected to fuel demand for open cell SPF. Other application segments include one component foam and high density SPF. Demand in other segment is driven by innovation and higher degree of customization.
Demand for SPF can be segregated into five major application segments: residential roofing, residential walls, commercial roofing commercial wall and other niche applications. Residential roofing application dominates the global demand for SPF. Other application segments include medical equipment and transportation among others.
North America followed by Asia Pacific dominates the global demand for SPF. Increasing industrial investment mainly in the developing economies of Asia Pacific is expected to drive demand for closed cell SPF. Europe is expected to be the fastest growing region for SPF market during the forecast period. Stringent government regulations are expected to drive SPF market in the developed economies of North America and Europe.
Some of the major industry participants include BASF Corporation, Lapolla Industries Inc., NCFI Polyurethanes, Bayer MaterialScience, Icynene Inc., Premium Spray Products, CertainTeed Corporation, Rhino Linings Corporation, The Dow Chemical Company and Demilec among others
This report segments the global spray polyurethane foam market as follows:
Spray Polyurethane Foam Market - Product Segment Analysis
- Open-Cell
- Closed Cell
- Others (Including high density spray polyurethane foam, one component foam, etc.)
Spray Polyurethane Foam Market - Application Analysis
- Residential walls
- Residential roofing
- Commercial walls
- Commercial roofing
- Others (Including Medical, Telecom, Transportation, etc.)
Spray Polyurethane Foam Market - Regional Analysis
- North America
- - Europe
- Asia Pacific
- Rest of the World
About Transparency Market Research: Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business
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