Home > Pressrelease > North America Spray Polyurethane Foam for Building & Construction Market size worth $990 million by 2027
North America Spray Polyurethane Foam for Building & Construction Market size worth $990 million by 2027
- Published Date: October 18, 2021
According to a new research report by Global Market Insights Inc., the North America Spray Polyurethane Foam for Building & Construction Market size is estimated to reach around USD 990 million by 2027.
Spray Polyurethane Foam (SPF) products are widely used as insulating materials in the walls & roofs of buildings. It prevents the loss of heat from buildings by sealing air gaps between windows, walls, and other areas of the buildings. SPF gives structural strength to roofs & walls due to its rigid or semi-rigid nature and also acts as a water barrier.
Increasing residential & commercial building constructions in the U.S. and Canada along with growing building remodeling activities will boost product consumption. Government regulations and standards on energy usage in buildings will further augment the demand for spray polyurethane foam as it can significantly lower a building’s energy costs.
Growing awareness about the optimum insulation of buildings and their energy & cost-saving advantages will drive the North America spray polyurethane foam market sales. The U.S. Environmental Protection Agency’s (EPA) estimates suggest that buildings that are insulated and air-sealed can save up to one-fifth of the heating and cooling costs. It is also estimated that highly efficient roofs and walls may allow cooling & heating equipment to be downsized by as much as 35%.
Browse key industry insights spread across 186 pages with 124 market data tables & 35 figures & charts from the report, “North America Spray Polyurethane Foam For Building & Construction Market By Product (Open Cell, Closed Cell), By Application (Residential Walls, Residential Roofs, Commercial Walls, Commercial Roofs, Below Grade Residential, Below Grade Commercial), By Container Size (12 -24 oz. Cans, Up To 55 Gallons, Above 55 Gallons), By Usage (Cartridge Foam, 2-Part Kit), Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The closed cell foam product segment is likely to grow significantly during the forecast period and is expected to generate around USD 430 million in revenue by 2027. The demand for closed cell SPF is profoundly dependent on increasing commercial & residential space investments in the region. These products are used in insulations as they are resistant to water degradation, thereby preventing bacterial growth. Rising demand for high insulating applications in the closed cell product segment, primarily for roofing applications, will drive the close cell product segment growth.
Good thermal and sound insulation properties of SPF to increase its popularity in residential wall applications
Applications of SPF in residential walls will drive the overall industry growth during the forecast timespan and they generated a demand for around 80 kilotons of SPF in 2020. Increasing residential construction projects in the region are expected to boost product consumption in residential walls. Furthermore, the development of new products with higher thermal insulation characteristics and economic prizing will drive the segment growth. Interior residential walls are a major part of the house and these walls require thermal & sound insulation.
The over 55 gallons container size segment is mostly used in large areas, such as commercial applications, where the requirement for SPF is large and usage of equipment sch as large crane vehicles for carrying this large cans are possible. The segment is expected to generate around USD 165 million in revenue by 2027. Growing large residential & commercial projects across North America are expected to drive segment growth. Difficulties in transportation and handling along with the flammable nature of the material increase risks at workplaces.
2-part kits are products in which both type A and type B solutions are packed as the same unit and provided to professional spray contractors. The segment is expected to showcase a growth rate of over 5% CAGR by 2027. These products are mainly used in residential walls and other applications owing to their easy handling & transportation. Large application areas, such as insulation to the entire home, are typically performed with large cans that are available as separate type A and type B solutions owing to the economic factors.
The proliferating commercial construction sector and the usage of low HFC-blend SPF will drive the Canada SPF market growth
The Canada spray polyurethane foam for building & construction market accounted for around 27% market share in 2020. Proliferation in the Canadian commercial development sector is attributed to the upcoming major educational, hospitality, and healthcare development projects in the country, thus supporting the market growth. Stringent regulations on usage of HFC blend materials in the construction industry are expected to showcase new trends in the industry. Manufacturers are offering low HCF-blend SPF products, which are in line with the new standards, and are also investing in the development of new SPF products.
Key industry participants operating in the North America spray polyurethane foam industry are BASF Corporation, Lapolla Industries, Inc., NCFI Polyurethanes, Foam Supplies, Inc., Johns Manville, and Specialty Products, Inc., among others.