Spray Foam Insulation Market to Grow Significantly due to its Benefits of Thermal Insulation and Air Sealing
The spray foam insulation market has been gaining immense popularity owing to its benefits of thermal insulation and air sealing. Spray foam insulation is a type of insulation that is installed as a liquid and then expands to fill all the gaps and cracks to form a seamless, air and moisture barrier with ideal insulation and sealing properties. There are two types of spray foam insulation available- closed cell spray foam and open cell spray foam.
Closed cell spray foam acts as an excellent insulator due to its closed cell structure which results in high R-value per inch and also prevents air leakage. It is used for insulating attics, walls and other spaces. Open cell spray foam is more breathable but less effective as an insulator. The spray foam insulation finds widespread usage in residential and commercial construction for insulating attics, walls, crawlspaces, foundations and roofs. Its seamless installation provides unmatched protection from air leaks, drafts, moisture, allergens and makes the structure energy efficient.
The Global Spray Foam Insulation Market is estimated to be valued at USD 2.97 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.
Key Takeaways
- Key players operating in the spray foam insulation are BASF SE, Lapolla Industries, Demilec, Covestro AG, Premium Spray Products.
- There is a growing demand for green building which uses eco-friendly insulation materials like spray foam for sustainable construction. Spray foam insulation provides superior energy savings.
- Technological advancements including developing spray foams with lower blowing agents and higher yield per container will further drive the Spray Foam Insulation Market Size. New products are focused on high yields, quick set times and eco-friendly compositions.
Market Trends
- Introduction of water-based spray foam insulation is a key trend as they are safer and more environment-friendly than solvent-based foams.
- Developing spray foams with class A fire rating is another trend. They meet stringent building codes and expand application in commercial buildings.
- Spray foam laminate technology combines foam with other building materials like sheathing to create all-in-one insulated wall panels for off-site construction. This improves construction efficiency.
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