Transparency Market Research: Spray Polyurethane Foam Market is Projected to Gain a Valuation of US$ 3.3 Bn by 2031: TMR Study

• Rise in the product usage in residential roofing is bolstering the spray polyurethane foam market
• Increase in number of construction projects in Asia Pacific is driving the regional market growth

WILMINGTON, Del., July 19, 2022 /PRNewswire/ -- The global spray polyurethane foam market is estimated to register growth at a CAGR of 7% during the forecast period from 2022 to 2031, notes a study by Transparency Market Research (TMR). Moreover, the global market is expected to be valued at US$ 3.3 Bn by 2031.

The report by TMR intends to provide in-depth analysis of spray polyurethane foam market growth factors. Moreover, readers gain a clear picture on the spray polyurethane foam market trends.

Companies in the spray polyurethane foam market are executing different strategies such as mergers, acquisitions, and new product launches. Such efforts are helping players in expanding their businesses and staying ahead of the competition.

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Spray Polyurethane Foam Market: Key Findings

• Spray polyurethane foam is being increasingly utilized in the construction industry. Varied common construction applications need filling, bonding, insulation, and sealing. Owing to superior thermal as well as acoustic insulation properties of spray polyurethane, it is being increasingly used in the insulation of sealing and bonding of walls and roofs, water pipes, and installation of window and door frames. Surge in the global population is resulting into increase in the number of construction projects including commercial and residential buildings. This factor, in turn, is helping in the growth of the spray polyurethane foam market.
• Spray polyurethane foams find application in residential roofing, commercial wall, residential walls, and commercial roofing. This foam is mainly used in roofs in order to offer extra layer of protection. The process is popularly known as foam roofing, which includes a polyurethane foam together with elastomeric coating. Over the period of past few years, there has been increases in the construction of residential buildings such as multi-family construction, single-family construction, and home improvements. This factor is boosting the demand for residential proofing activities. As a result, the residential proofing segment is projected to maintain its dominating position in global spray polyurethane foam market during the forecast period.

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Spray Polyurethane Foam Market: Growth Boosters

• Surge in the construction activities in order to cater to the needs of rising global population is resulting into revenue-generation opportunities in the spray polyurethane foam market
• Players are experiencing rise in the demand for open-cell foam polyurethane foam owing to its flexibility, cost-effective nature, and ability to provide higher moisture resistance in comparison with closed-cell polyurethane foam

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Spray Polyurethane Foam Market: Regional Analysis

• Asia Pacific is estimated to play important role in the spray polyurethane foam market development and expand at a CAGR of 11.5% during the forecast period. The Asia Pacific market growth is ascribed to the presence of many emerging economies such as China and India and increase in demand for commercial establishments and residences in the region.
• The North America market is prognosticated to expand at a CAGR of 6% during the forecast period. Surge in the product demand from the construction industry of the U.S. is propelling the regional spray polyurethane foam market. Moreover, the North America market is expanding owing to rise in government incentives and regulations promoting the development of energy-efficient infrastructure in the nation.

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Spray Polyurethane Foam Market: Key Players

Some of the key players profiled in the report are:

• The Dow Chemical Company
• Huntsman International LLC
• BASF SE
• Carlisle Spray Form Insulation
• DuPont
• CERTAINTEED
• Rhino Linings Corporation
• ISOTHANE LTD
• Bayer AG
• Lapolla Industries, Inc.,
• Demilec
• Covestro AG
• ICYNENE
• Carlisle Companies

Spray Polyurethane Foam Market Segmentation

Type

• Open-cell Spray Polyurethane Foam
• Closed-cell Spray Polyurethane Foam

Application

• Residential Walls
• Residential Roofing
• Commercial Walls
• Commercial Roofing
• Other (Medical Equipment, Transportation, and Telecom)

Regions Covered

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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