Market Size of Spray Polyurethane Foam Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spray Polyurethane Foam Market Analysis
Over the next five years, the spray polyurethane foam market is expected to grow at a CAGR of over 5%.
- COVID-19 caused disruption in the supply chain and raw materials, leading to a slowdown in industries like automotive and construction, owing to which the production of spray polyurethane foams decreased. The spray polyurethane market is expected to reach its pre-pandemic level by the end of the forecast period, which is 2021. This is because the economy started to get better and the supply situation got better.
- Growing concerns about greenhouse gas emissions and the market's strong potential as a key part of a building's durability management strategy are the main things that will drive the market's growth in the short term.
- On the other hand, fiberglass and cellulose insulation products are becoming more popular, which will likely slow the growth of the market.
- In the next few years, the market is likely to have more chances to make money because foam lifting is becoming more popular in the concrete raising business.
- Asia-Pacific holds a significant 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 increase in energy-efficient construction and asbestos encapsulation applications.
