Spray Polyurethane Foam Market Size, Share, Keyplayers Opportunities 2022
The global spray polyurethane foam market size was valued at USD 3.1 billion in 2021 and is poised to grow at a significant CAGR of 6.7% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Spray Polyurethane Foam Market: By Type (Open Cell Foam, Closed Cell Foam), Application Type (Wall, Floor, Ceilings, Attics, Roofs, Others), and Geography-Global/Region/Country Forecast to 2028.
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An overview on the Global Spray Polyurethane Foam Market
Spray polyurethane foam displays great conservation of energy as compared to other conventional alternatives including glass and hence partake a reasonably less carbon footprint. Strict rules imposed by government coupled with environmental reimbursements for energy effective constructions have completely influenced the growth of market. Another major factor driving the market growth is the growing construction industry. On the other hand, raw materials used to produce such foams incline the human body to certain health risks like asthma and also fluctuation in the cost of raw materials are the leading market growth constraints. The spray polyurethane foam market will be fuelled due to the favorable need for housing facilities in emerging nations and the fast growth of this industry. Increasing customer purchasing power and initiatives by different governments throughout the world for improving public infrastructure will impel the construction industry worldwide.
Spray polyurethane foam (SPF) finds an extensive array of applications in commercial roofing, medical transportation and others. Residential roofing remained the main application sector and is estimated to witness the dominance in the upcoming years. Strict rules for energy efficient structures predominant in the developed countries of Europe and North America fuels the residential application of SPF. Telecom, transportation and medical equipment are the other applications sectors for SPF. Growing investment in R&D for novel product development increases its demand in other niche application sectors.
North America accounted for major share in the Global Spray Polyurethane Foam Market
Global spray polyurethane foam market report gives comprehensive outlook on spray polyurethane foam across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Among these regions, North America appeared as the leading customer of SPF and accounted for major share in the market. It is anticipated to show supremacy in the upcoming years. Europe is projected to be the rapidly growing region. This region’s growth can be attributed to the major factor like strict government rules leading to increase in the reconstruction of structures. Asia Pacific is anticipated to grow at a moderate speed. Growing industrial reserves in the Asia Pacific is expected to impel the growth of market in the region.
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Competitive Analysis Global Spray Polyurethane Foam Market
Major players working in the global spray polyurethane foam market are BASF Corporation, Bayer Material Science, Lapolla Industries Demilec, NCFI Polyurethanes and Icynene Inc.
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