Spray Polyurethane Foam Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Product Type (Two-component High-Pressure Spray Foam, Two-component Low-Pressure Spray Foam, One Component Foam (OCF), and Other Product Types), Application (Insulation, Waterproofing, Asbestos Encapsulation, Sealant, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

5 %

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Market Overview

The global spray polyurethane foam market is estimated to witness a healthy growth, at an estimated CAGR of over 5%, over the forecast period. The major factors driving the growth of the market studied are growing concerns related to greenhouse gas emissions and strong potential as a key component of the durability management strategy for a building. 

  • Growing competition from fiberglass and cellulose insulation solutions are likely to hinder the markets growth.
  • Gaining momentum in the trend of foam lifting in the concrete raising industry is likely to create opportunities for the market in the coming years.
  • Asia-Pacific holds the major share in the consumption of spray polyurethane foam (SPF) materials. The region is also expected to witness the fastest growth during the forecast period, powered by the growth in energy-efficient construction and asbestos encapsulation applications in the region.

Scope of the Report

The global spray polyurethane foam market report includes:

Product Type
Two-component High-Pressure Spray Foam
Two-component Low-Pressure Spray Foam
One Component Foam (OCF)
Other Product Types
Application
Insulation
Waterproofing
Asbestos Encapsulation
Sealant
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Usage in the Insulation Applications

  • Spray polyurethane foam had been used in insulation applications since the 1960’s and the consumption has steadily grown over time. However, spray polyurethane foam insulation experienced exponential growth during the past decade.
  • The Energy Saving Trust calculates that 25% of heat loss in homes is through the roof, 35% is through the walls, 25% is through windows or draughts, and 15% is through the floor. Hence, cavity wall and loft/roof insulation are two of the most effective energy efficiency measures anyone may install. 
  • Spray polyurethane foam systems provide an ideal way of complying with very high insulation standards while providing effective controls against unwanted air leakage and preventing condensation. The insulation value is among the best available, as the foam seals all gaps and moulds itself to all contours.
  • The widespread use of the spray polyurethane foam in building envelope assemblies, including walls, ceilings, floors, attics, crawl spaces, and roofing is linked directly to code-mandated improvements in energy efficiency and specifically, requirements for reducing building air leakage. 
  • Increasingly stringent building codes, such as State of California’s Title 24 and International Code Council’s International Energy Conservation Code, are driving builders to utilize materials that reduce fossil fuel consumption and conserve energy.
  • Globally, Asia-Pacific has the largest construction market which is led by India, China, and various South-east Asian countries. In India, the government has initiated projects, such as 100 smart cities and ‘Housing for All by 2022’ which are expected to immensely drive the residential construction market in India through the forecast period. The country has even experienced significant interest from foreign investors in its infrastructural sector. 
  • Owing to all the aforementioned factors, the market for spray polyurethane foam is likely to increase in the coming years.

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China to Dominate the Demand in the Asia-Pacific Region

  • China is the largest economy in the entire Asia-Pacific region, in terms of GDP. The growth in the country remains high but is gradually diminishing, as the population is aging, and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
  • The first year of China’s 13th Five-year Plan (2016) was an important year for the country’s engineering, procurement, and construction (EPC) industry, as it ventured into new business models, both domestically and internationally.
  • There has been an increase in investments in the transportation sector in the recent past. China’s transport ministry and National Development and Reform Commission (NDRC) plans to invest in coming years in many key transportation projects, which include railways, highways, waterways, airports, and urban rail.
  • The automotive production is expected to reach 30 million units by 2020, owing to the “Made in China 2025” initiative, which supports in upgrading the existing low-cost mass production to higher value-added advanced manufacturing.
  • Furthermore, countries, such as India and Japan, have also been contributing to the growth of the market studied. This is expected to further drive the demand for spray polyurethane, over the forecast period.

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Competitive Landscape

The spray polyurethane foam market is partially consolidated in nature. Some of the major players in the market include BASF SE, Huntsman International LLC, Johns Manville, Dow, and CERTAINTEED, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Concerns Related to Greenhouse Gas Emissions

      2. 4.1.2 Strong Potential as a Key Component of the Durability Management Strategy for a Building

      3. 4.1.3 Growing Significance in Industrial Insulation for Cold Storage Spaces, Walk-in Refrigerators, Pipes, Tanks, and Others

    2. 4.2 Restraints

      1. 4.2.1 Growing Competition from Fiberglass and Cellulose Insulation Solutions

      2. 4.2.2 Stringent EPA and Occupational Safety and Health Administration (OSHA) Regulations

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Raw Material Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Two-component High-Pressure Spray Foam

      2. 5.1.2 Two-component Low-Pressure Spray Foam

      3. 5.1.3 One Component Foam (OCF)

      4. 5.1.4 Other Product Types

    2. 5.2 Application

      1. 5.2.1 Insulation

      2. 5.2.2 Waterproofing

      3. 5.2.3 Asbestos Encapsulation

      4. 5.2.4 Sealant

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ACCELLA CORPORATION

      2. 6.4.2 BASF SE

      3. 6.4.3 CERTAINTEED

      4. 6.4.4 Dow

      5. 6.4.5 Huntsman International LLC

      6. 6.4.6 Icynene-Lapolla

      7. 6.4.7 INVISTA

      8. 6.4.8 ISOTHANE LTD

      9. 6.4.9 Johns Manville

      10. 6.4.10 NCFI Polyurethanes

      11. 6.4.11 SOPREMA

      12. 6.4.12 Specialty Products Inc.

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging Applications as the New Industry Standard for Pipeline Engineering

    2. 7.2 Gaining Momentum in the Trend of Foam Lifting in the Concrete Raising Industry

** Subject to Availability

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