Global Spray Polyurethane Foam Market Set for Rapid Growth, To Reach Around USD 1.90 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 03/15/2017 -- Zion Market Research has published a new report titled "Spray Polyurethane Foam (Open Cell, Closed Cell and Others) Market for Residential Walls, Residential Roofing, Commercial Walls, Commercial Roofing and Other Applications – Global Industry Perspective, Comprehensive Analysis and Forecast, 2014–2020." According to the report, the global spray polyurethane foam market was valued at USD 1.30 billion in 2014 and is anticipated to reach USD 1.90 billion by 2020, growing at a CAGR of 7% between 2014 and 2020. In terms of volume, the global spray polyurethane foam market stood at 530 kilo tons in 2014.
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Spray polyurethane foam commonly denoted to as SPF. SPF is a spray-applied plastic that can form a constant insulation and air sticking on around corners, walls, roofs, and on all contoured surfaces. Polyurethane foam is commonly used in wall insulation, roofing, manufactured homes, seal cracks and gaps containers and Warehouses. Spray polyurethane foam is made by reacting isocyanates such as MDI (Methylene diphenyl diisocyanate) and polyols in the presence of catalysts and blowing agents. MDI (Methylene diphenyl diisocyanate), TDI (Toluene diisocyanate), polyols and amines are the key raw materials of SPF.
Spray polyurethane foam market is mainly driven by strong demand from construction industry. Spray polyurethane foam is widely used in construction industry in various applications such as insulation, sealing, etc. With the revival of global economy, global construction industry is expected to witness surge in the years to come. Moreover, rising demand for green buildings in North America and Europe is expected to further fuel growth of spray polyurethane foam market. However, volatile raw materials prices are expected to be major concern for SPF manufacturers. Moreover, raw materials such as MDI and TDI that are used in the production of SPF cause severe health hazards including asthma and skin irritation. This may affect growth of SPF market.
Browse the full "Spray Polyurethane Foam (Open Cell, Closed Cell and Others) Market for Residential Walls, Residential Roofing, Commercial Walls, Commercial Roofing and Other Applications – Global Industry Perspective, Comprehensive Analysis and Forecast, 2014–2020" report at http://www.marketresearchstore.com/report/spray-polyurethane-foam-market-for-residential-walls-residential-z37622
Open cell are closed cell are the key product segment of spray polyurethane foam market. The open cell SPF dominated the market and accounted for over 45% of the total volume consumed in 2014. Spray polyurethane foam market is mainly driven by open cell SPF and closed cell SPF. Open cell SPF are expected to grow faster as compared to other product segments.
Spray Polyurethane Foam Market
Key application markets for spray polyurethane foam include residential walls, residential roofing, commercial walls, commercial roofing and others. Commercial walls application is expected to be the fastest growing segment in terms of revenue during the forecast period. The rapid growth is expected in this application segment due to the growth of construction industry. In addition, the increasing demand for spray polyurethane foam can be attributed to the government regulations emphasizing the importance of energy efficiency structures. Residential roofing was the largest application market for spray polyurethane foam market in 2014. It accounted for over 30% share of the total volume consumed in 2014.
Spray polyurethane foam market is growing across the world. North America Europe, Asia-Pacific, Latin America, and Middle East & Africa are the key regional markets for spray polyurethane foam. North America dominated spray polyurethane foam market in 2014 and accounted for over 44% of the global SPF consumption in 2014. Europe and North America are mainly driven by stringent government regulations.
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Key players operating in Spray polyurethane foam market include BASF SE, Bayer MaterialScience, Lapolla Industries Inc., Dow Chemical Company, Rhino Linings Corporation, CertainTeed Corporation, Premium Spray Products, and NCFI Polyurethanes.
What Report Provides
Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Former, on-going, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets
Testimonials to companies in order to fortify their foothold in the market.?
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