Global Spray Polyurethane Foam Market Will Reach Around USD 1.90 Billion by 2020
Zion Research has published a new report titled “Spray Polyurethane Foam (Open Cell, Closed Cell and Others) Market for Residential Walls, Residential Roofing, Commercial Walls, Commercial Roofing and Other Applications – Global Industry Perspective, Comprehensive Analysis and Forecast, 2014–2020.” According to the report, the globalspray polyurethane foam market was valued at USD 1.30 billion in 2014 and is anticipated to reach USD 1.90 billion by 2020, growing at a CAGR of 7% between 2014 and 2020. In terms of volume, the global spray polyurethane foam market stood at 530 kilo tons in 2014.
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Spray polyurethane foam (SPF) is made by reacting isocyanates for example MDI (Methylene diphenyldiisocyanate) and polyols in the presence of catalysts, flame retardants and blowing agents. Polyols react with MDI to make foam. MDI (Methylene diphenyl diisocyanate), TDI (Toluene diisocyanate), polyols and amines are the key raw materials of SPF. The mixing and reacting materials react very quickly, expanding on contact to create foam that insulates, air seals and provides a moisture barrier. SPF insulation is known to resist heat transfer extremely well, and it offers a highly effective solution in reducing unwanted air infiltration through cracks, seams, and joints. There are different types of SPF. There are different types of SPF such as open cell, closed cell, etc. SPF is mainly used for insulation and sealing walls and roofing.
SPFs are used to cover cracks and holes in walls and ceiling and insulate structures, thus reducing energy loss. The foams also help avoid any soil or air pollutant from entering the structure, there by maintaining healthy environment in the structure. Therefore, SPFs have higher acceptance over traditional glass fibers due to several benefits including higher efficiency and ease of installation. This is expected to boost the demand for SPF. However, volatile raw material prices are expected to be major restraint for global spray polyurethane foam market.
Spray polyurethane market can be segmented on the basis of product types such as open cell, closed cell, etc. Open cell spray polyurethane foam dominated the product segment and accounted for over 45% share of the total volume consumed in 2014. Open cell spray polyurethane foam is also expected to be the fastest growing product segment during the forecast period.
Residential walls & roofing and commercial walls & roofing are application markets for spray polyurethane foam industry. Large volume of spray polyurethane foam is used in construction for insulation and sealing in walls and roofing. Strong growth in construction industry is driving demand for spray polyurethane foams across the world. Residential roofing was the largest application market for spray polyurethane foam market in 2014. It accounted for over 30% share of the total volume consumed in 2014. However, commercial walls are expected to be the fastest growing application market for spray polyurethane foam market during the forecast period.
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North America was the largest regional market for spray polyurethane foam in 2014. North America was followed by Asia Pacific and Europe respectively. Strong growth of green buildings market in United States is major driving force for spray polyurethane foam market in the region. Asia Pacific Accounted for around 305 share of the total volume consumed in 2014. However, Europe is expected to witness strong growth during the forecast period.
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Key players operating in spray polyurethane foam market include BASF SE, Bayer MaterialScience, Lapolla Industries Inc., Dow Chemical Company, Rhino Linings Corporation, CertainTeed Corporation, Premium Spray Products, and NCFI Polyurethanes.
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