Growing construction activities worldwide is expected to robust
global spray polyurethane foam market growth over the next six years.
Major spray polyurethane foam application includes insulation of
buildings with more efficient output compared to other materials. Spray
polyurethane foam exists in rigid form which enhances industrial and
commercial applications such as refrigerators and thermal insulation of
buildings. Increasing applications in end-use industries is expected to
drive the spray polyurethane foam market growth over the forecast
period.
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Growing construction and insulation industries owing to urbanization
is anticipated to bolster the market growth over the next eight years.
Unlike other insulation materials spray polyurethane foam is more
efficient on account of energy conservation aspect. Spray polyurethane
foam manufacturing process emits less carbon footprints compared to
other materials, which is expected to have positive impact on spray
polyurethane foam market over the forecast period.
Growing environmental concern and stringent government regulations on
carbon footprint is projected to boost the spray polyurethane foam
market over the next six years. Isocyanates are primarily used for
manufacturing spray polyurethane foam. Volatile isocyanates prices are
expected to hamper the global spray polyurethane foam market over the
forecast period. Isocyanates also impose health hazardous impacts such
as asthma during spray polyurethane foam manufacturing process is
anticipated to hinder the spray polyurethane foam market growth.
Innovations in reducing manufacturing cost and developing low cost bio
based spray polyurethane foam are anticipated to generate immense
opportunities for the market over the next six years.
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On the basis of application, spray polyurethane foam was classified
as residential walls, residential roofing, commercial roofing and
commercial walls. Residential roofing dominated the spray polyurethane
foam application market in 2013 and the trend is expected to continue
over the forecast period. Other niche spray polyurethane foam
applications include transportation and medical equipment. Spray
polyurethane foam can be segmented on the basis of type as open cell and
closed cell. Both the cell together covered about 90% of the market and
remaining 10% was contributed to one component foam and high density
foam in 2013.
Open cell spray polyurethane foam is spongy and low cost material
majorly used for inner wall insulation and also provides sound
resistance. Closed cell spray polyurethane foam is a dense material used
as roofing insulation and provide better water vapor barrier. According
to U.S. Department of Energy, most of the energy is lost through walls,
windows and doors via air medium. Spray polyurethane foam insulation
reduces the energy loss by 50% compared to other conventional insulation
materials. Spray polyurethane foam also provides better water
resistance that decreases mold formation on woods.
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North America dominated the global spray polyurethane foam market
followed by Asia Pacific in 2013 owing to growing residential
development and environmental awareness. Growing residential buildings
renovations and concern about energy conservation in North America are
expected to drive the market over next six years. Emerging Asia Pacific
economies such as China, India and Indonesia are anticipated to show
dynamic market growth over the forecast period on account of increasing
spending on residential buildings.
Industrialization and urbanization in developing countries is also
expected to drive the spray polyurethane foam market growth. Frequent
changes in atmospheric temperature during summer and winter in the last
decade forced consumers to use cost effective insulations on buildings
and is anticipated to boost the market over the next six years. Europe
is expected to experience the fastest spray polyurethane foam market
growth over the forecast period owing to European Commission stringent
regulations regarding environmental impacts.
Some major players in the market include NCFI Polyurethans, BASF
Corporation, Bayer Material Science, Lapolla Industries Inc., Premium
Spray Products, The Dow Chemical Company, Icynene Inc., Rhino Linings
Corporation, Demilec and Certain Teed Corporation. Rhino Linings has
developed bio based spray polyurethane foam Insulation and DuraTite.
Insulation open cell is used by builders for roofing and DuraTite closed
cell is used for interior insulation. DuraTite comprises of non-ozone
depletion and less global warming impending blowing agents. This
initiative by Rhino Linings is expected to have positive impact on the
spray polyurethane foam market over the forecast period.
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