The construction industry has witness a continuous growth from last couple of decades. This is primarily owing to increasing industrial and residential construction activities and related product advancement. Spray foam is one of such advancement. Generally, these spray foam are a mixture of isocyanate and polyol resin, which when sprayed over a surface, can expand up to 30 -60 times its liquid volume. The introduction of spray foam has made a revolutionary change in the working of construction and packaging industry. Characteristics such as taking a form of insulation, air sticking on around corners, roofs, walls and on contoured surface has allowed spray foam to be used in variety of application including wall insulation, roofing, seal cracks and gaps containers. The growing use of spray foam in industrial and residential construction activity and packaging industry is expected to fuel the growth of global spray foam market over the forecast period.
Spray Foam Market- Market Dynamics:
One of the significant factors contributing towards the growth of spray foam market is the strong demand from packaging Industry. Moreover, Spray foam is widely used in construction industry for its variety of application including insulation, sealing etc. Owing to the revival of global economy, the industrial construction industry is anticipated to witness a surge in demand over the forecast period. Furthermore, it is anticipated that global spray foam market will grow along with the growth of construction industry in near future. Apart from this, developing as well as developed countries have seen a rising demand of green building from last couple of decades, which are expected to further fuel the global demand in spray foam market.
However, fluctuation in raw material prices are expected to be a major concern for spray foam manufacturer. Adding to this, raw material such as MDI (Methylene diphenyl diisocyanate) and TDI (Toluene diisocyanate) that are used in production of spray foam, cause severe health related problem including asthma and skin irritation. This may hamper the growth of global spray foam market over the forecast period.
Spray Foam Market- Market Segmentation:
The spray foam market can be segmented on the basis of product type and application. On the basis of product type, spray foam market can be segmented into medium density closed-cell spray foam (CCSPF) and light density open cell spray foam (OCSPF). Light density open cell spray foam are generally used for construction activity due to its ability to expand, fill cracks, crevices and adhere to irregular surfaces to form an air sealing insulation. On the basis of application, spray foam market can be segmented into building application and Packaging application, furthermore, building application can be subdivided into residential walls, residential roofing, commercial walls and commercial roofing.
Spray Foam Market- Regional Outlook:
Geographically, the spray foam market can be segmented into North America’s spray foam market, Latin America’s spray foam market, Europe’s spray foam market, Asia-Pacific’s spray foam market and Middle East & Africa’s spray foam market. The growth of global spray foam market is expected to witness a healthy CAGR over the forecast period of 2016-2024. Moreover, North America is expected to witness a high growth of spray foam market due to rising demand of green building. Europe is expected to follow North America. Asia pacific, with the growing industrial and residential construction activity is anticipated to follow both North America as well as Europe over the forecast period. Rest of the world is expected to show a steady growth in global spray foam market in coming years.
Spray Foam Market- Major Players:
Some of the major players identified across the globe in the spray foam market are BASF SE, Bayer Material Science, Lapolla Industries Inc., Dow Chemical, Rhino Linings Corporation, CertainTeed Corporation, Premium Spray Products and NCFI Polyurethanes.
The spray foam market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The spray foam market research report provides analysis and information according to market segments such as geography, technology, and applications.
The Spray Foam Market Report Covers Exhaust Analysis On:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends /Issues/Challenges
- Competition & Companies involved
Regional Analysis Of Spray Foam Market Includes:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
The spray foam market report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The spray foam market report also maps the qualitative impact of various market factors on market segments and geographies.
The Spray Foam Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.