Spray Polyurethane Foam Market
Added: (Fri Feb 18 2022)
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Spray Polyurethane Foam Market
Market Overview
The Global Spray "Polyurethane Foam Market" is expected to reach at a CAGR of 7.77% within the forecast period (2021-2028).
Spray polyurethane foam is a single-component polyurethane (PU)-based heat and sound insulation foam that can be sprayed on surfaces using a particular application apparatus. The fuel can spray the chemical component onto surfaces through the application gun. With the moisture in the air, this composition cures expands and hardens quickly. Spray polyurethane foam, which previously only had double component equivalents, can now be applied quickly and easily by both amateurs and professionals due to its single component version. The costs of transportation, warehousing, application and workmanship are significantly lower than those of other comparable products.
Spray Polyurethane Foam is used for heat and acoustic insulation almost anywhere. For instance, roofs, attics, facades, foundations, basements, cellars, floors, internal walls, floor overlappings, inner sections, ceilings and storerooms. Spray foam is also be used on building structural elements, balconies, arcades, doors, window slopes, pipes and conduits, tanks and entire inclined and uneven surfaces. Furthermore, spray foam is used on vehicle bodies, trailers, container carriers, container shelters, parking lots and garages, boats, yachts and other craft, as well as hundreds of other places.
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Market Dynamics
The growing use of polyurethane foams in building insulations for energy conservation drives the market share for spray polyurethane foam. Increasing demand for spray polyurethane foam in insulation applications creates huge opportunities for the product to increase in the forecast period.
The growing use of polyurethane foams in building insulations for energy conservation drives the market share for spray polyurethane foam.
Polyurethane will be the leading choice in thermal insulation materials for many generations to come, especially for industrial and residential constructions. Polyurethane has been widely used in several nations for many years. Belgium, France and U.S. are just a few countries that quickly realized the value of using polyurethane in residential thermal insulation systems. Given the relatively stringent EU energy efficiency criteria necessary for buildings, many European markets employing Polyurethane commercially are growing.
Polyurethanes are used in building and construction to create high-performance products that are strong but light, perform well and are durable and adaptable. Polyurethane products can also help improve the appearance of homes and structures. For instance, spray polyurethane foams (SPF) can help insulate and air-seal homes and structures as insulation, roofing and sealant product, resulting in decreased utility costs, reduced greenhouse gas emissions and enhanced indoor air quality by preventing dust and allergen infiltration.
Spray foam, which is strong and long-lasting, can also improve a building's structure by increasing its resistance to wind uplift, which helps protect it from harsh weather. Thus, increasing spray polyurethane foam applications in the construction industry creates a huge market share for the product to grow in the forecast period.
Increasing demand for spray polyurethane foam in insulation applications, creating huge opportunities for the product to increase in the forecast period.
Polyurethane foam is one of the most effective materials for insulating foundation walls because of its outstanding excellent adhesion to a wide variety of substrates, including concrete. Furthermore, because the foam expands after it is applied, the space created by the edge joint and the floor framing parts is perfectly filled by the insulation.
Polyurethane foam insulation is easy to apply precisely with a specially developed gun and it's also great for sealing holes where electrical cables, plumbing lines and air ducts are routed. The excellent sealing property reduces air interaction between the building's exterior and interior.
For instance, Akfix Thermcoat offers Spray Polyurethane Foam with strong sound, heat and water insulation. Thermcoat, a homogeneous insulation technique that prevents heat bridges, contributes directly to heat insulation and lowers building heating and cooling expenses.
Furthermore, the product absorbs sound and provides tranquil living areas because of its strong acoustic insulation. After curing, it has great resistance to various solvents (acetone, thinner, etc.), particularly water. As a result, it also aids in building water insulation.
The growing inclination towards bio-based spray polyurethane is creating huge opportunities for spray polyurethane foam to increase in the future market
With the shift to "cleaner" blowing agents for polyurethane foam production firmly in place, there is now a strong push to utilize bio-based renewable resources as raw-material feedstocks. In order to combat global warming, the goals are to reduce demand for non-renewable fossil fuels and reduce carbon dioxide "greenhouse gas" production.
For instance, the Urethane Soy Systems Co. (USSC) announced a recent "breakthrough" in NOPs aimed at PUR spray foam insulation. For over a decade, the company has been creating soy-based polyol formulations, which it distributes under the Soyol brand, primarily for flexible foam. R&D in NOPs for rigid foams, elastomers, composites and prepolymer technologies is ongoing at USSC.
Furthermore, KODIAK offers BioBased 501w, an open cell, water-blown spray polyurethane foam insulation with a density of 0.5 pounds utilized in residential and commercial buildings' walls and ceilings roof decks. The completed foam is Class I fire certified, ICC-Rated and contains 3% bio-based content. Upon application, BioBased 501w expands to form a sealed thermal envelope that will not droop, settle, or decay over time. The best thing that can be done at home is to insulate it with spray foam insulation and ventilate it correctly.
In addition, Bio-based foam insulation has numerous environmental advantages. It cuts down on energy usage by making homes and buildings more energy-efficient. There are no CFCs, HCFCs, VOCs, or formaldehyde in it. Aside from these two environmentally favorable advantages, there is also a reduction in reliance on petroleum oils.
Bio-Based Systems Foam Insulation is made from soybeans cultivated in the United States, a renewable resource. Thus, the mentioned advantages of bio-based spray polyurethane foam create huge opportunities for the product to increase during the forecast period.
COVID-19 Impact Analysis
COVID-19 has had a major economic influence on several financial and industrial sectors, including travel, tourism, manufacturing, and aviation. Economic activity is diminishing due to increasing countries implementing and prolonging lockdowns, influencing the global economy.
The pandemic has brought the residential and commercial construction and industrial sectors to a halt. During the current crisis, spray polyurethane foam demand from this industry is expected to be low to medium. Delays in order delivery, supply chain limitations, workforce and equipment shortages and material shortages are serious concerns.
Following this crisis, the market is predicted to recover and demand for spray polyurethane foam is expected to rise. Furthermore, most countries began to ease restrictions in the second half of 2020. The construction sector has regained the market momentum and therefore accelerated the demand for spray polyurethane foam to grow in the forecast period.
Segment Analysis
The global spray polyurethane foam market is segmented based on product, type, application, end-user and region.
Two-component high-pressure spray foam holds a dominating market share for the spray polyurethane foam market. The product is perfect for cavity filling, mold filling and other insulating applications.
The global spray polyurethane foam market is segmented into two-component high-pressure spray foam, two-component low-pressure spray foam, one component foam (OCF) and other product types. Out of the mentioned product types, two-component high-pressure spray foam holds a dominating market share for the spray polyurethane foam market, as large surfaces requiring many layers or thicknesses are well suited for two-component polyurethane foams.
The product's chemical cure makes it perfect for cavity filling, mold filling and other insulating applications. High-pressure two-component systems (usually 800-1600 psi) use 55-gallon drums and are more commonly employed for insulating bigger areas on new construction or major renovations on walls and roofs.
These items are meant to be used by professionals. These products require special training and protective equipment. A spray rig (truck) with the SPF components, air supply and other materials is parked near the home or building to be sprayed in a conventional high-pressure SPF application. Installers wearing suitable protective equipment carry hoses (up to 300 feet in length) to the application location and spray the foam.
Geographical Analysis
The expanding automotive and aerospace industries in various countries of Asia-pacific is more likely to create huge opportunities for the spray polyurethane foam market
The Asia-Pacific is projected to show rapid growth in the spray polyurethane foam market forecast period. The growing demand for residences and commercial establishments is expected to accelerate APAC's spray PU foam market growth over the forecast period. In terms of GDP, China is the largest economy in Asia-Pacific.
The country's growth rate is still high. Still, it decreases as the population ages and the economy shifts from investment to consumption, manufacturing to services and external to internal demand. The first year of China's 13th Five-Year Plan (2016) was a defining moment for the country's engineering, procurement and construction (EPC) industry, which experimented with new business models at home and abroad.
Thus tremendously improving construction sector of China is more likely to create immense opportunities for spray polyurethane foam to grow in the forecast period. Furthermore, North America is expected to create great competition in the forecast period for the spray polyurethane foam market due to the rise in government incentives and regulations that promote infrastructure with efficient energy, stringent government regulations regarding energy efficiency and increased use of polyurethane foams in building insulations for energy conservation in this region
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Competitive Landscape
The spray polyurethane foam market is highly competitive with the presence of local and global companies. Some prime companies are contributing to the market's growth BASF SE, Rhino Linings Corporation, Lapolla Industries, Inc., Bayer AG, NCFI Polyurethanes, ICYNENE, Demilec (USA) Inc., Dow, CERTAINTEED., Specialty Products Inc., Covestro AG, Foam Supplies, Inc., Mitex Global (Hong Kong) Ltd and GLOBAL CELLULOSE CORPORATION and others.
The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the global growth of the spray polyurethane foam market.
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