According to a new growth analysis report by GMI, global rigid spray polyurethane foam (spf) market is slated to hit USD 1.1 billion by 2024. Depleting non-renewable energy resources and extensive use of fossil fuels have resulted in an energy crisis. This has become a major cause of concern among countries across the globe and has led to the growing demand for energy-efficient and green residential and commercial buildings. Rigid SPFs are used to cover cracks, gaps, and holes in walls & ceiling and also insulate structures, reducing the energy loss. The foams also help in avoiding any soil or air pollutants from entering the structure, thereby maintaining a healthy environment in the structure. Therefore, SPFs have a higher acceptance over the traditional glass fibers due to several benefits including higher efficiency and ease-of-installation. Along with new construction sites, these regulations have boosted the growth of the rigid spray polyurethane foam market in the renovation of old residential and commercial buildings throughout the forecast spell.
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Rigid spray polyurethane foam market is divided based on end-use, application and region. On the basis of end-use, the industry is divided into agricultural, commercial, institutional, residential, and industrial buildings. In terms of revenue, agricultural buildings will account for over USD 45 million in 2024 growing at substantial rate throughout the forecast spell owing to extensive product usage in insulation, water/moisture & thermal resistance on the floor, walls, ceilings and roof, decks of vegetable & fruits refrigeration warehouses, and cold storages. Significant agricultural activities and positive trend towards the cool storage of food products in Asia Countries such as India, China and Japan will further augment the rigid spray polyurethane foam market demand by 2024.
Based on application, the rigid spray polyurethane foam market is divided into roof, wall, floor and others. In terms of revenue, floor application is likely to generate over USD 30 million in coming years. The other applications include ceilings, plumbing systems, doors, etc. and held less than 10% share of the global rigid SPF market in 2024.
Browse key industry insights spread across 350 pages with 392 market data tables & 26 figures & charts from the report, “Rigid Spray Polyurethane Foam Market Size By Application (Wall, Roof, Floor), By End-Use (Commercial, Residential, Industrial, Agricultural, Institutional), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/rigid-spray-polyurethane-foam-market
Germany rigid SPF market will likely generate over USD 55 million in forecast spell owing to the positive growth in the residential and industrial building construction activities. The product is used as an insulating and protecting agent on the building floor, roofs and walls. This in turn, will propel the regional rigid spray polyurethane foam market over the forecast timeframe.
Residential buildings segment will grow with over 6% CAGR in the forecast timeframe. The product is highly used as insulating material on walls and roofs of buildings as it reduces the overall construction cost and utility bills.
The U.S. is a key contributor in rigid SPF market and accounting for over 70% of the entire share in 2016. The country is anticipated to witness a significant due to the supportive government protocols related to the energy efficient buildings and infrastructures.
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