Spray foam insulation is a popular substitute for traditional insulation materials, such as glass and metal. It is also often referred to as Spray Polyurethane Foam Insulation (SPFI) and is routinely installed in new builds, renovations, and retrofits. Spray foam insulation solves building insulation design problems, since it combines proven thermal protection while offering superior air barrier properties.
Spray foam insulation includes open cell and closed cell foam insulation. Open cell insulation is a lightweight foam that stays soft and flexible. Closed cell spray foam is a high density product and becomes hard and durable when cured. It is a more expensive product that also serves as a moisture barrier. It is more suitable for basements and under-grade applications, as compared to open cell foam.
Common applications of spray foam insulation are commercial and industrial roofing and wall insulation. Spray foam insulation uses less wall space, when compared with other materials. It meets codes and completely fills the wall, hence saving energy and money.
Spray foam solutions reduce repair and maintenance costs over time for a variety of infrastructure. Spray foam insulation is also used in engineering solutions for foundations, buildings, roadways and concrete repair.
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Spray Foam Insulation Market: Drivers and Restraints
The booming demand for spray foam insulation is directly correlated with the recent surge in potential homeowners opting for high-performing environment friendly technologies for their homes. The use of green technologies has also been incorporated into commercial construction and office buildings to reduce energy consumption and increase appeal among consumers.
New developments in the market are countering problems regarding applications. This will be one of the major drivers of the spray foam insulation market. Demand for spray foam insulation will be dramatically affected by anticipated modification to building codes in various parts of the globe. The demand for spray foam insulation will be driven by building improvements and upgrades, coupled with increasing construction activities in APAC and LA regions.
Government authorities are supporting energy efficiency and the demand for spray foam insulation will also rise in government construction projects. Rising middle class population in emerging markets is also anticipated to fuel the demand for spray foam insulation for various applications, such as in roofing and concrete. In developed countries, demand will stem mainly from refurbishment of commercial and residential buildings following a few years of decline.
Moreover, increasing shale gas exploration and importance of health and safety considerations are creating more application opportunities. Fire regulations will comprise a key restraint for the spray foam insulation market. There are issues related to thickness and application of spray foam that mostly depend on installers, however spray foam problems are generally less frequent and easier to overcome with proper planning and application.
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Spray Foam Insulation Market: Region-Wise Outlook
The global spray foam insulation market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Growth in developed regions, such as Western Europe, Japan and North America will be driven by new product innovation, owing to easy applicability and strict government regulations in building codes.
APEJ and Latin America regions will also register rapid growth, due to increasing industrial investments in emerging economies, such as India and China. MEA is also projected to expand with a significant CAGR over the forecast period.
Spray Foam Insulation Market: Market Participants
Examples of some of the market participants in the global spray foam insulation market identified across the value chain include:
- BASF Corporation
- Bayer Material Science
- CertainTeed Corporation
- Demilec
- Icynene Inc.
- Lapolla Industries Inc.
- NCFI Polyurethanes
- Premium Spray Products
- Rhino Linings Corporation
- The Dow Chemical Company
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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