Spray Polyurethane Foam (SPF) is produced by reacting isocyanates such as MDI (Methylene diphenyl diisocyanate) and polyols in the presence of catalysts, flame retardants and blowing agents. The foam is then sprayed or pumped on building substrates as an insulating material.
SPF exhibits higher energy conservation efficiency than its traditional substitutes such as glass and thus has a comparatively lower carbon footprint. Ecological benefits coupled with government regulation for energy efficient structures have been among the factors driving demand for SPF. Demand for SPF is profoundly dependent on the construction industry. Hence, expanding construction industry has been a major factor fuelling the market growth. Raw materials used in the production of these foams cause severe occupational health hazards such as asthma. This has been a major restraint for growth of the market. In addition, price volatility of raw materials is expected to hamper the market growth over the coming few years. Research and development activities to develop bio-based SPF are expected to offer huge growth opportunity for the market.
The global SPF market can be segmented into three product segments, namely open cell SPF, closed cell SPF and others. In 2012, open cell and closed cell together constituted over 90% of the global demand for SPF and this high market share trend is expected to continue over the duration of the forecast period. Open cell SPF is primarily employed for residential applications and dominate the global demand for SPF. Demand for closed cell SPF is profoundly dependent on increasing industrial investments in a region. Other product segment comprise of one component foam and high density foam. One component SPF are employed for filling small cracks and holes whereas high density SPF are employed mainly for commercial applications such as machinery and geo thermal applications
On the basis of applications, the SPF market has been bifurcated into five major segments such as residential roofing, residential walls, commercial roofing, commercial walls and other niche applications including medical and transportation. Residential roofing was the largest application segment and the trend is expected to continue through 2019. Residential application of SPF is predominant in the developed economies of North America and Europe primarily owing to stringent regulations for energy efficient structures. Commercial walls application is expected to be the fastest growing segment in terms of revenue during the forecast period. Other applications include medical equipment, transportation, and telecom among others. Demand in other niche application segments is primarily driven by innovation and increased research and development activities.
North America emerged as the largest consumer of SPF in 2012 and accounted for over 44% of the global SPF market and the trend is expected to continue during the forecast period. Europe is expected to be the fastest growing region for SPF market. Demand in North America and Europe is expected to be driven by stringent government regulations in these regions leading to increase in reconstruction of structures. Increasing industrial investments in the Asia Pacific region is expected to drive demand for closed cell SPF in the region.
Major players in the global SPF market include BASF Corporation, Bayer MaterialScience, Lapolla Industries and Demilec among others. The top five players together have a market share of over 45%. Residential applications dominate the demand for SPF hence major players find innovative techniques to increase proximity to end consumers. Major players have increased their investment in the emerging economies of Asia and North Africa through alliances with regional players. Some of the major players in the market include NCFI Polyurethanes, Icynene Inc., Premium Spray Products, Inc., CertainTeed Corporation, Rhino Linings Corporation and The Dow Chemical Company among others.
Spray polyurethane foam are produced by mixing certain isocyanates and polyols in the presence of catalysts, flame retardants and blowing agents. The foam is sprayed using a spray gun on several surfaces as an insulating material.
This report comprises in-depth analysis and forecast of the spray polyurethane foam market on a global as well as regional level. The report includes forecast for the period from 2013 to 2019 in terms of volume (kilo tons) and revenue (USD Million) for the regional and global markets. Quantitative data has been derived through extensive secondary research of the global spray polyurethane foam market. Secondary sources typically include company websites, relevant magazines, government documents and press releases among other reliable sources. A top down approach was followed to derive the regional numbers from global figures. Furthermore, bottom up approach was employed to derive data for various application segment based on the demand for spray polyurethane foam in each geographic segment. Combination of top down and bottom up approach helps in validation of the quantitative data of the market. The data was further validated with the help of primary research with industry experts to ensure the accuracy of derived numbers.
Detailed analysis of various factors driving the global spray polyurethane foam market has been included for astute decision making. The impact of these drivers over the forecast period has been included with data to substantiate the research findings. Moreover, the factors restraining market growth have been included for better understanding of the market. Impact of these restraints has been analyzed over the forecast period. The report also comprises various opportunities available for market growth over the period of next six years. Opportunities comprise the untapped or recently explored factors that are anticipated to offer growth opportunities for the spray polyurethane foam market during the forecast period.
This report includes value chain analysis to understand the industry thoroughly. The value chain analysis comprises detailed evaluation of the roles of various entities involved in the spray polyurethane foam industry, from raw material supplier to the end-user. Various processes used for manufacturing of spray polyurethane foam also have been included in the value chain analysis. Porter’s five forces model has been used to determine the degree of competition in the industry during the forecast period. Company market share analysis has been included for better understanding of the competitive landscape. Company market share analysis includes the market share of dominant players in the market in the year 2012 based on their production capacities. Furthermore, a market attractiveness analysis has been done to analyze the application segments that are expected to be lucrative during the forecast period on the basis of various factors including market size, growth rate, profitability, raw material procurement and competition in each application segment.
The spray polyurethane foam market has been segmented on the basis of product type and application. On the basis of product type, the market has been segmented as open cell, closed cell and others including high density spray polyurethane foam. On the basis of application, spray polyurethane foam market has been segmented as residential walls, residential roofing, commercial walls, commercial roofing, and others including geo thermal applications. Detailed analysis for all segments in the regional and global markets and forecast based on current and future trends of the industry in terms of volume (kilo tons) and revenue (USD million) have been included in the report. Geographically, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW).
The report provides company profiles of major industry participants operating in the spray polyurethane foam market including BASF MaterialScience, Bayer, Lapolla, The Dow Chemical Company, Demilec and CertainTeed among others. Various attributes of these companies such as company overview, SWOT analysis, business strategies, financial information and recent developments form the core of the company profiles section.
This report segments the global spray polyurethane foam market as follows:
Spray Polyurethane Foam Market: Product Segment Analysis
- Open Cell
- Closed Cell
- Others (Including high density spray polyurethane foam, one component foam, etc.)
Spray Polyurethane Foam Market: Application Analysis
- Residential walls
- Residential roofing
- Commercial walls
- Commercial roofing
- Others (Including Medical, Telecom, Transportation, etc.)
Spray Polyurethane Foam Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World