Growing construction activities worldwide is expected to robust global spray polyurethane foam market growth over the next six years. Major spray polyurethane foam application includes insulation of buildings with more efficient output compared to other materials. Spray polyurethane foam exists in rigid form which enhances industrial and commercial applications such as refrigerators and thermal insulation of buildings. Increasing applications in end-use industries is expected to drive the spray polyurethane foam market growth over the forecast period. Growing construction and insulation industries owing to urbanization is anticipated to bolster the market growth over the next eight years. Unlike other insulation materials spray polyurethane foam is more efficient on account of energy conservation aspect.
Spray polyurethane foam manufacturing process emits less carbon footprints compared to other materials, which is expected to have positive impact on spray polyurethane foam market over the forecast period. Growing environmental concern and stringent government regulations on carbon footprint is projected to boost the spray polyurethane foam market over the next six years. Isocyanates are primarily used for manufacturing spray polyurethane foam. Volatile isocyanates prices are expected to hamper the global spray polyurethane foam market over the forecast period. Isocyanates also impose health hazardous impacts such as asthma during spray polyurethane foam manufacturing process is anticipated to hinder the spray polyurethane foam market growth. Innovations in reducing manufacturing cost and developing low cost bio based spray polyurethane foam are anticipated to generate immense opportunities for the market over the next six years.
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On the basis of application, spray polyurethane foam was classified as residential walls, residential roofing, commercial roofing and commercial walls. Residential roofing dominated the spray polyurethane foam application market in 2013 and the trend is expected to continue over the forecast period. Other niche spray polyurethane foam applications include transportation and medical equipment. Spray polyurethane foam can be segmented on the basis of type as open cell and closed cell. Both the cell together covered about 90% of the market and remaining 10% was contributed to one component foam and high density foam in 2013. Open cell spray polyurethane foam is spongy and low cost material majorly used for inner wall insulation and also provides sound resistance. Closed cell spray polyurethane foam is a dense material used as roofing insulation and provide better water vapor barrier. According to U.S. Department of Energy, most of the energy is lost through walls, windows and doors via air medium. Spray polyurethane foam insulation reduces the energy loss by 50% compared to other conventional insulation materials. Spray polyurethane foam also provides better water resistance that decreases mold formation on woods.
North America dominated the global spray polyurethane foam market followed by Asia Pacific in 2013 owing to growing residential development and environmental awareness. Growing residential buildings renovations and concern about energy conservation in North America are expected to drive the market over next six years. Emerging Asia Pacific economies such as China, India and Indonesia are anticipated to show dynamic market growth over the forecast period on account of increasing spending on residential buildings. Industrialization and urbanization in developing countries is also expected to drive the spray polyurethane foam market growth. Frequent changes in atmospheric temperature during summer and winter in the last decade forced consumers to use cost effective insulations on buildings and is anticipated to boost the market over the next six years. Europe is expected to experience the fastest spray polyurethane foam market growth over the forecast period owing to European Commission stringent regulations regarding environmental impacts.
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Some major players in the market include NCFI Polyurethans, BASF Corporation, Bayer Material Science, Lapolla Industries Inc., Premium Spray Products, The Dow Chemical Company, Icynene Inc., Rhino Linings Corporation, Demilec and Certain Teed Corporation. Rhino Linings has developed bio based spray polyurethane foam Insulation and DuraTite. Insulation open cell is used by builders for roofing and DuraTite closed cell is used for interior insulation. DuraTite comprises of non-ozone depletion and less global warming impending blowing agents. This initiative by Rhino Linings is expected to have positive impact on the spray polyurethane foam market over the forecast period.
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