North America Spray Polyurethane Foam For Building & Construction Market Size

North America Spray Polyurethane Foam For Building & Construction Market Size

North America Spray Polyurethane Foam (SPF) For Building & Construction Market size was valued at USD around 687 million in 2020 and is expected to showcase a growth rate of around 5.4% from 2021 to 2027 driven by increasing building construction and remodeling activities across the region.

The product is used in building roofs, walls, attics, and basements to prevent the loss of air and keep the building insulated. The building insulation market has been gaining momentum over the last two decades due to the growing awareness about the energy-saving benefits of insulating buildings, mainly in the regions witnessing cold weather.

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Spray polyurethane foam is a chemical product that is primarily used for insulation purposes. The product is a cellular plastic material and is created by mixing polyol resin & isocyanate. Both liquid components are combined in the spray nozzle or can be used as a cartridge foam for offering isolation. The low thermal conductive value of the product is making it a popular insulating choice in building insulations.

Spray polyurethane foam has many benefits over traditional board insulating materials such as Expanded Polystyrene (EPS) and Extruded Polystyrene (XPS). The product provides lower R values than the rigid board insulations and optimizes energy efficiency. Low wastage during the application, easy transportation & applications, and better adherence to substrates make SPF an enhanced building insulation material. Although the cost of SPF may be more than board packaging, the final cost of the product combined with the installation and transportation costs is lower than the traditional board insulations.

Industry participants are adopting various trends including the usage of bio-based raw materials instead of crude oil-based materials along with recycling trends owing to the economic source of raw materials. Additionally, they enable industry participants to reduce the adverse environmental impacts owing to the usage of waste materials for new petroleum-based additives. This trend is expected to bring sustainable development in spray polyurethane foam for building & construction market.

The COVID-19 pandemic has disrupted the business of several industries across the globe. Lockdowns enforced in several countries to prevent the COVID-19 spread are expected to have adverse impacts on several end-user industries. The exponential rise in positive COVID-19 cases in North America, shutdown of production facilities for some weeks, and low production rates of additives have severely impacted the market in FY2020. Furthermore, the industry may require up to two years to regain its previous growth rate.