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Spray Polyurethane Foam Market

Global Spray Polyurethane Foam Market Size, Share & Trends Analysis Report, By Product (Open-Cell, and Closed-Cell), By Application (Residential, Commercial, and Industrial) and Forecast 2019-2025
    Update Available - Forecast 2024-2030   

Published: Jul 2023 | Report Code: OMR2019995 | Category : Plastics and Polymers | Delivery Format: /

The global spray polyurethane foam (SPF) market is estimated to grow at a CAGR of 7% during the forecast period. Polyurethane foam is a chemical product that is widely used in construction applications that require filling, sealing, bonding, and insulation. SPF (SPF), when compared to conventional roofing systems, are lightweight, durable, weather-proof, and requires less maintenance. Owing to their high thermal resistance and acoustic insulation, SPFs are used in various applications such as water pipes, bonding and sealing roofs and walls, and installation of door and window frames, which, in turn, drives the growth of the global spray polyurethane foam market. Moreover, SPFs are also sprayed on roofs and walls to enhance the thermal resistance of buildings. Other factors that motivate the growth of the global spray polyurethane foam industry include the emerging demand for innovative insulation products for buildings coupled with the growing construction activities. 

Segmental Outlook  

The global SPF market is segmented on the basis of product, application, and regions. On the basis of the product, the market is segmented into open-cell and closed-cell. Based on the basis of application, the market is classified into residential, commercial, and industrial. 

Global SPF Market Share by Products, 2018 (%)

Global SPF Market Share by Products

Closed-Cell SPF is Widely Preferred over Open-Cell SPF

Open-cell SPF is expected to contribute significantly towards the market growth over the forecast period. Open-cell SPF has an R-value of 3.7 per inch and insulates by trapping air in the foam cells. It functions as an air barrier and noise absorber and is more flexible and softer as compared to rigid closed-cell foam, and is ideal for warm or mixed climates. Open-cell SPF usually has a lower installed cost per square foot rather than closed-cell SPF. Closed-cell foam has a higher R-value (over 6 per inch) and is an ideal air and moisture retarder. It offers structural enhancements to buildings where it is sprayed and is effective in all climates. It can eliminate condensation on the sheathing, and thereby prevent the growth of mold in such areas. Thereby, closed-cell SPF is much widely preferred over the open cell SPF. 

Regional Outlook 

Geographically, the study of the global SPF market covers the analysis of four major regions including North America (the US and Canada), Europe (Germany, UK, Italy, France, Italy, Spain, and Rest of Europe), and Rest of the World (RoW). North America is growing significantly owing to the presence of stringent building codes and regulations in the region. Substantial government investment for energy-efficient buildings is further expected to offer significant opportunities for the market growth in the region. 

Global SPF Market Growth, by Region 2019-2025

Global SPF Market Growth, by Region

Asia-Pacific to be the Fastest-Growing Region

Asia-Pacific is expected to witness optimistic growth over the period 2019-2025, owing to rapid growth in the construction industry coupled with the rising focus on green building initiatives in the region. For instance, in 2017, in China, as the national Five-Year Plan is cascaded to provincial and municipal jurisdictions, nearly 20 cities have set highly ambitious targets. A few of them include Changde, Zhenjiang, Zibo, Wuxi, and Suzhou, Shanghai, Beijing, Shenzhen, and Chongqing. These cities will emphasize on all new commercial buildings to be green buildings according to the World Economic Forum. This, in turn, will likely to offer significant opportunities for the growth of the global spray polyurethane foam market in near future.

Market Players Outlook

The global SPF market is characterized by the presence of many players operating in the market. Some of the key players in the market include BASF SE, The Dow Chemical Co., Bayer AG, Icynene, Inc. and Huntsman International LLC. The players operate in a highly competitive market owing to which they adopt various strategies in order to remain competitive in the market. Mergers and acquisitions, product launch, geographical expansion, and partnerships and collaborations are majorly adopted strategies. Additionally, the global SPF market has witnessed multiple innovative product launches that have contributed to the growth of the open-cell foam segment. 

Recent Developments

  • In April 2019, Icynene-Lapolla had launched Lapolla Foam-Lok 750 to address the better energy solution for meeting the building code and energy efficiency requirement of high-performance homes, owing to its core density of 0.75-pound which makes it highly air-permeable. 
  • In February 2019, Icynene-Lapolla had launched Icynene Open-cell No-Mix insulation. The no-mix is a two-component light-density one-to-one by volume spray. This product launch tends to address the increasing demand for no-mix insulation owing to its utility in new and retrofit home and commercial applications. 
  • In December 2018, Thermoseal launched Thermoseal 360, ultra-high yield open-cell spray foam insulation and Thermoseal 800, ultra-high R-value open-cell spray foam. The company launched these innovative sprays for getting an edge over other competitors in the highly competitive market of spray polyurethane foams. 
  • In October 2017, Icynene, Inc. and Lapolla Industries Inc. entered into a merger agreement under which Icynene will acquire all the outstanding shares of Lapolla. Together, the combined company's energy-conserving SPF insulation products will serve a broad range of new commercial, residential, specialty non-construction and remodeling insulation project needs in North America and across the globe. 

The Report Covers

  • Market value data analysis of 2018 and forecast to 2025.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global spray polyurethane foam market. Based on the availability of data, information related to products and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying ‘who-stands-where’ in the market.

1. Report Summary

1.1. Research Methods and Tools

1.2. Market Breakdown

1.2.1. By Segments

1.2.2. By Geography

2. Market Overview and Insights

2.1. Scope of the Report 

2.2. Analyst Insight & Current Market Trends

2.2.1. Key Findings

2.2.2. Recommendations

2.2.3. Conclusion

2.3. Rules & Regulations

3. Competitive Landscape

3.1. Company Share Analysis

3.2. Key Strategy Analysis

3.3. Key Company Analysis

3.3.1. BASF SE

3.3.1.1. Overview

3.3.1.2. Financial Analysis

3.3.1.3. SWOT Analysis

3.3.1.4. Recent Developments

3.3.2. The Dow Chemical Co. 

3.3.2.1. Overview

3.3.2.2. Financial Analysis

3.3.2.3. SWOT Analysis

3.3.2.4. Recent Developments

3.3.3. Bayer AG

3.3.3.1. Overview

3.3.3.2. Financial Analysis

3.3.3.3. SWOT Analysis

3.3.3.4. Recent Developments

3.3.3.5. Recent Developments

3.3.4. Huntsman International, LLC

3.3.4.1. Overview

3.3.4.2. Financial Analysis

3.3.4.3. SWOT Analysis

3.3.4.4. Recent Developments

4. Market Determinants

4.1. Motivators

4.2. Restraints

4.3. Opportunities

5. Market Segmentation

5.1. Global Spray Polyurethane Foam Market by Product

5.1.1. Open-Cell

5.1.2. Closed-Cell

5.2. Global Spray Polyurethane Foam Market by Application

5.2.1. Residential

5.2.2. Commercial

5.2.3. Industrial

6. Regional Analysis

6.1. North America

6.1.1. United States

6.1.2. Canada

6.2. Europe

6.2.1. UK

6.2.2. Germany

6.2.3. Italy

6.2.4. Spain

6.2.5. France

6.2.6. Rest of Europe

6.3. Asia-Pacific

6.3.1. China

6.3.2. Japan

6.3.3. India

6.3.4. Rest of Asia-Pacific

6.4. Rest of the World

7. Company Profiles

7.1. Accella Polyurethane Systems, LLC 

7.2. Armacell Llc

7.3. BASF SE

7.4. Bayer AG

7.5. Certainteed Corp.

7.6. Huntsman International LLC 

7.7. Icynene, Inc.

7.8. Johns Manville

7.9. NCFI Polyurethanes (A Division of Barnhardt Manufacturing Co.)

7.10. Polyurethane Foam Systems, Inc.

7.11. Premium Spray Products, Inc.

7.12. Rhino Linings Corp.

7.13. Saint-Gobain Group

7.14. Specialty Products, Inc.

7.15. The Dow Chemical Co.

7.16. Thermoseal Inc.

1. GLOBAL SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2018-2025 ($ MILLION)

2. GLOBAL OPEN-CELL SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)

3. GLOBAL CLOSED-CELL SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)

4. GLOBAL SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)

5. GLOBAL SPRAY POLYURETHANE FOAM IN RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)

6. GLOBAL SPRAY POLYURETHANE FOAM IN COMMERCIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)

7. GLOBAL SPRAY POLYURETHANE FOAM IN INDUSTRIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)

8. GLOBAL SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2018-2025 ($ MILLION)

9. NORTH AMERICAN SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)

10. NORTH AMERICAN SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2018-2025 ($ MILLION)

11. NORTH AMERICAN SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)

12. EUROPEAN SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)

13. EUROPEAN SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2018-2025 ($ MILLION)

14. EUROPEAN SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)

15. ASIA-PACIFIC SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)

16. ASIA-PACIFIC SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2018-2025 ($ MILLION)

17. ASIA-PACIFIC SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)

18. REST OF THE WORLD SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2018-2025 ($ MILLION)

19. REST OF THE WORLD SPRAY POLYURETHANE FOAM MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)

1. GLOBAL SPRAY POLYURETHANE FOAM MARKET SHARE BY PRODUCT, 2018 VS 2025 (%)

2. GLOBAL SPRAY POLYURETHANE FOAM MARKET SHARE BY APPLICATION, 2018 VS 2025 (%)

3. GLOBAL SPRAY POLYURETHANE FOAM MARKET SHARE BY GEOGRAPHY, 2018 VS 2025 (%)

4. US SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

5. CANADA SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

6. UK SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

7. FRANCE SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

8. GERMANY SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

9. ITALY SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

10. SPAIN SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

11. ROE SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

12. CHINA SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

13. JAPAN SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

14. INDIA SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

15. REST OF ASIA-PACIFIC SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

16. REST OF THE WORLD SPRAY POLYURETHANE FOAM MARKET SIZE, 2018-2025 ($ MILLION)

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