Spray Polyurethane Foam Market Size to Grow by $ 727.50 Million through 2021-2025
Technavio research projects the spray polyurethane foam market to grow by $ 727.50 mn, accelerating at a CAGR of almost 9% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Spray Polyurethane Foam Market: Top Driver to Boost Demand for spray polyurethane foam market
The rising number of infrastructure projects is significantly influencing the spray polyurethane foam market growth. Spray PU foam is widely used in the construction industry for insulating walls, panels, and gap fillers in doors and windows. Spray PU foam exhibits high energy efficiency, versatility, and thermal or mechanical performance. Spray PU foam is also used as a weatherproof sealant as it forms a seamless layer of insulation, fills gaps and seams, and covers irregular and hard-to-insulate shapes. The growth of the construction industry, owing to increase in infrastructure development activities, has led to high demand for spray PU foam. The rising demand for housing and flooring materials will also increase the demand for spray PU foam.
Spray Polyurethane Foam Market: Key Trends to impact market growth
Polyurethanes are formed by reacting a polyol with a diisocyanate or a polymeric isocyanate in the presence of catalyst or additives. Various manufacturers and researchers and focusing on developing new forms of polyurethane foams, such as photo-cross-linkable polyurethane. Huntsman International acquired Demilec, which offers DEMILEC APX., an innovative spray polyurethane foam insulation used to insulate and air seal homes, schools, and buildings and it also meets the rigorous fire tests for use in attics without a fire coating. Innovations in polyurethane foams is one of the key spray polyurethane foam market trends as it prevents damage to products and maintains proper thermal insulation.
Spray Polyurethane Foam Market: Armacell International SA, BASF SE and Covestro AG are key growth contributors
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Armacell International SA, BASF SE, Covestro AG, Future Foam Inc., FXI, Huntsman Corp., LANXESS AG, Nitto Denko Corp., Rogers Corp., and Sekisui Chemical Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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Spray Polyurethane Foam Market: Key Highlights of the Report for 2021-2025
