New Report Highlights Significance, Applications, and Key Participants of the Global Spray Foam Market

ALBANY, NY – November 26, 2014 – The global Spray polyurethane foam market is driven by greater efficiency and reduced carbon footprint during production. It is expected that the global spray polyurethane foam market will grow at a CAGR of 7% between the years 2013 and 2019. The manufacturing of spray polyurethane foam involves the reaction of polyols and isocyanates like Methylene Diphenyl Diisocyanate in the presence of blowing agents, flame retardants, and catalysts. The resultant foam is then either pumped or sprayed on building substrates as an insulating agent.

Spray polyurethane foam has a lower carbon footprint because it exhibits greater energy efficiency than its conventional alternatives like glass. The global spray polyurethane foam market is fueled to a marked extent by the construction industry as well. Thus, the performance of the construction industry has a direct impact on the global spray polyurethane foam market.

Segmentation and Application Scope of the Global Spray Polyurethane Foam Market :

The global spray polyurethane foam market is segmented on the basis of the type of product, applications, and geography. Based on the type of product, the global spray polyurethane foam market is classified into closed cell spray polyurethane foam, open cell spray polyurethane foam, and others. The two segments of closed-cell spray polyurethane foam and open-cell spray polyurethane foam, together account for more than 90% of the overall demand for spray polyurethane foam in the global market. In fact, as per industry forecasts this trend is expected to continue in the forthcoming years as well. The closed-cell spray polyurethane foam segment is mainly fueled by the incidence of industrial investments taking place in a region. The global demand for spray polyurethane foam is significantly influenced by the demand for open-cell spray polyurethane foam.

Open-cell spray polyurethane foam is mostly used for residential applications. High density foam, and one component foam are the two types that are included in the others product segment. High density spray polyurethane foam is used in commercial applications like geothermal applications, and machinery. And, one component spray polyurethane foam is used for filling small holes and cracks. On the basis of applications, the global spray polyurethane foam market is segmented into commercial roofing, residential roofing, commercial walls, residential walls, and other niche applications like telecom, transportation and medical. The largest application segment is the residential roofing segment, and in terms of revenue the rapidly growing segment is that of commercial walls.

North America – Dominant Player in the Global Spray Polyurethane Foam Market :

Geographically, the global spray polyurethane foam market is led by North America. North America is the largest consumer in the spray polyurethane foam market and accounts for almost 50% of the total consumption in this market. It is however predicted that Europe will be the fastest growing region in the global spray polyurethane foam market in the years to come. The spray polyurethane foam markets in Europe and North America are mainly propelled by strict government regulations that emphasize on reconstruction of structures. Also, the residential applications segment dominates the spray polyurethane foam markets in these regions.

The demand for closed-cell spray polyurethane foam in the Asia Pacific is driven by greater industrial investments taking place in this region. Greater research and development activities, and innovations are the two main factors driving the niche applications segment in the global spray polyurethane foam market.

Global Spray Polyurethane Foam Market – Growth Inhibitors, and Prominent Players :

The problems facing the global spray polyurethane foam market are adverse health effects caused by the raw materials used for manufacturing these foams, and price volatility of inputs. The raw materials used for manufacturing spray polyurethane foams cause serious occupational health issues like asthma. Furthermore, it is expected that the growth of the spray polyurethane foam market over the next few years will be hampered by the fluctuating prices of raw materials.

More than 45% of the market share is held by the top five players operating in the global spray polyurethane foam market. The prominent players in this market aim at developing innovative ways of increasing proximity to the ultimate consumers in the global spray polyurethane foam market, since this market is essentially dominated by the residential applications segment.

Some of the key market participants include Demilec, the Dow chemical company, rhino Linings Corporation, Certainteed Corporation, Premium Spray Products, Icynene inc., Bayer MaterialScience, Ncfi polyurethanes, Lapolla industries, inc., BASF Corporation.

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