Spray Foam Insulation Market Statistics | Industry Trends

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.

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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.

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

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest Of Latin America)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
• Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
• Japan

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Spray Foam Insulation Market: Segmentation