The Global Spray Polyurethane Foam Market was valued at USD 1.60 Billion in 2022 and is projected to reach USD 2.91 Billion by 2030, registering a CAGR of 6.93% for the forecast period 2023-2030.
Market Definition
Spray polyurethane foam is a high-performance plastic that is sprayed on and used to insulate walls, giving them heat resistance. Additionally, it aids in lessening the amount of unwelcome air infiltration that results from wall joints, fractures, and seams. It enables the owner to use less powerful heating and cooling systems while preserving energy for the duration of the building. Compared to other insulating materials, spray polyurethane foam is superior, more resilient, and uses less energy. The spray polyurethane foam market is expanding due to the rapidly expanding construction industry in emerging companies. In addition, the market is growing due to the adoption of green building practices and the aging, health-conscious population. Soon, the market for spray polyurethane foam is anticipated to grow as a result of growing concerns about energy efficiency in applications and a rise in the demand for durable, affordable materials.
Market Size:
- 2022: USD 1.60 Billion
- 2030: USD 2.91 Billion
- CAGR (2023-2030): 6.93%
Spray Polyurethane Foam Market Dynamics
Drivers Propelling the Demand for Spray Polyurethane Foam include:
Increasing Usage in the Insulation Applications to Fuel Market Expansion:
Its high R-value suggests that it is efficient at preventing the flow of heat. Consequently, SPF finds widespread use in insulation applications aimed at improving energy efficiency in residential, commercial, and building structures. SPF seals crevices and gaps in buildings, functioning as an efficient air barrier. By stopping air leaks, this not only increases energy efficiency but also contributes to the formation of a barrier resistant to moisture. SPF is an adaptable solution for a range of construction applications because it can control moisture in addition to providing insulation. Polyurethane foam can be sprayed on to create a seamless insulation layer by conforming to irregular shapes and penetrating hard-to-reach areas. This feature, which offers consistent insulation coverage without the need for extra seams or joints, is especially helpful in complex building structures, applied swiftly and effectively, SPF requires less installation time than conventional insulation materials. This application's simplicity is advantageous for building projects where timeliness is of the essence, which adds to the industry's growing inclination toward SPF. Because of its versatility, spray polyurethane foam can be used in crawl spaces, attics, walls, floors, and roofs. It is the material of choice for insulation in both residential and commercial buildings because of its versatility in dealing with various surfaces and substrates. SPF lowers heating and cooling energy consumption by offering efficient insulation. Because SPF insulation improves energy efficiency, buildings with it usually have lower energy bills. One important factor driving the adoption of SPF is the possibility for long-term cost savings, due to this factor fueling the growth of the Spray Polyurethane Foam market.
For instance, in September 2023, according to Foam Tech Medical, over 35 million people have diabetes in the US, roughly 11% of the entire population. Researchers forecasted a growing number of people under age 20 newly diagnosed with diabetes through 2060. Fortunately, technological advancements in medical devices make monitoring and delivering insulin easier than ever before. Biocompatible polyurethane foam is an integral part of the performance of these devices.
Air Sealing and Moisture Control to Continue Driving Market Growth:
When applied, SPF expands to fill in voids, cracks, and spaces in building structures. By creating an airtight seal, this expansion stops outside air from entering indoor areas. Reducing heating and cooling losses through effective air sealing is essential for improving energy efficiency, which is especially advantageous in residential and commercial buildings. Through the creation of a seamless and continuous thermal barrier, SPF contributes to the enhancement of building energy efficiency. Less air infiltration enables HVAC systems to run more effectively, which lowers energy consumption and, ultimately, building owners' energy expenses. The adoption of SPF is significantly influenced by this energy-efficiency factor. By acting as a strong moisture barrier, SPF keeps water out of building structures, it clings firmly to surfaces, forming an impenetrable seal that guards against leaks and moisture-related problems. This is especially crucial in places that frequently experience high humidity, a lot of rain, or where a building's structural integrity may be at risk from water intrusion. SPF's ability to control moisture is essential for stopping the growth of mold and mildew. Since mold and mildew prefer moist, humid environments, SPF's capacity to form a moisture-resistant barrier helps to preserve indoor air quality and guard against possible health risks related to mold exposure. SPF's ability to control moisture and seal in air is one of its long-term durability factors. The substance aids in shielding building structures from the rot and decay caused by moisture-related deterioration, this factor driving the growth of the Spray Polyurethane Foam market.
For instance, in July 2022, The Spray Polyurethane Foam Alliance (SPFA), the educational and technical voice of the spray polyurethane foam industry, announced its newly elected Board of Directors for 2022 to 2024. Encompassing industry leaders from both the contractor and manufacturer sides of the business, as well as spanning the insulation and roofing sectors, the board includes an executive committee, 12 voting members, and eight additional non-voting members.
Recent Developments
In May 2020, Huntsman Corporation announced that it has branded its world leading spray polyurethane foam (SPF) Business as Huntsman Building Solutions (HBS). HBS is a global platform within Huntsman's Polyurethanes division.
In June 2023, BASF’s water-blown polyurethane insulation spray foam is now used in the latest bus model by Kinglong United Automotive (SuZhou) Co., Ltd. (Suzhou Kinglong). Suzhou Kinglong, China's leading bus manufacturer, their part supplier Changzhou Tianshun Automotive Parts Co., Ltd. (Tianshun), and BASF collaborated to develop the 100% water-blown spray open-cell foam system Elastoflex CE 3651/108. As verified with a testing report by PONY Testing International Group, the PU foam, which meets stringent VOC standards, provides better interior air quality in public transportation.
Restraint
High upkeep and possibility for overspray:
The market's growth is probably going to be hampered by growing worries about the high maintenance requirements and potential for overspray associated with spray polyurethane foam roofing systems. Spray polyurethane foam in roofing systems should be tested twice a year even though there is no known damage. Additionally, particularly following potentially harmful weather events like hurricanes, tornadoes, and hailstorms, there is a high likelihood that spray polyurethane foam roofing systems will sustain damage. Moreover, because the polyurethane foam is sprayed on, there's a chance that the wind will carry any excess onto surrounding automobiles and other surfaces. This poses no health risk, but it does pose a risk to nearby property, Potential users may be discouraged by the high maintenance costs of spray polyurethane foam systems. Inspections, repairs, and replacements are some examples of maintenance requirements, and these expenses can mount up over time. Professionals with the necessary skills and knowledge of SPF systems are frequently needed for proper maintenance. There might not be as many skilled technicians available, which would raise the cost of labor for maintenance tasks. Maintenance tasks can interfere with ongoing business operations and construction projects, particularly if they necessitate system outages. this factor hinders the growth of the Spray Polyurethane Foam market.
For instance, in November 2023, according to Sunlight Contractors, the cost of spray foam insulation can range from $1,284 up to $3,741, while the national average is $2,492. Typical range: $1,284 to $3,741.
Challenges
Environmental concerns.
The production and application of traditional SPF frequently result in the release of volatile organic compounds (VOCs), which can lead to air pollution and health risks such as headaches, dizziness, and respiratory irritation. This presents issues with environmental compliance and public health, particularly in areas where VOC regulations are more stringent. Although bio-based and low-VOC SPF options are becoming more popular, their market share is currently smaller and their cost tends to be higher, which prevents them from being widely used. Because conventional SPF production uses raw materials derived from petroleum, it increases reliance on fossil fuels and greenhouse gas emissions. This raises questions regarding SPF's environmental impact and compatibility with sustainable development objectives. Even though there is still much to learn about bio-based and recycled material alternatives, issues with cost-effectiveness and mass adoption still exist.
Opportunities
Stringent government regulations regarding energy efficiency
Tighter rules force building owners and builders to use energy-efficient solutions, which lowers energy usage and related expenses. SPF is a highly desirable material to comply with regulations because of its exceptional thermal insulation properties, which enable buildings to achieve significant energy savings on heating and cooling. Structures with SPF insulation have a higher probability of meeting or surpassing regulatory energy performance standards, which makes obtaining permits and certifications easier. This gives SPF installers and manufacturers a competitive edge over more conventional insulation techniques that yield smaller energy savings. Developers and owners of buildings who use SPF and other energy-efficient materials in their projects can receive financial incentives or subsidies from several governments. This lowers the cost of using SPF directly and increases its attractiveness as a solution for regulatory compliance. Particularly in environmentally conscious areas, buildings with higher market values and tenant interest are those with superior energy efficiency owing to SPF insulation. This provides even more motivation for building projects to use SPF in order to abide by rules and become more profitable. Businesses that provide SPF solutions can benefit from the association with energy efficiency and regulatory compliance to improve their brand recognition and draw in eco-aware customers. The SPF industry may benefit from greater market acceptance and more commercial opportunities as a result.
Snapshot:
| Attributes | Details |
| Market Size in 2022 | USD 1.60 Billion |
| Market Forecast in 2030 | USD 2.91 Billion |
| Compound Annual Growth Rate (CAGR) | 6.93 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Product, By Application & By Region |
| By Type |
|
| By Application |
|
| By Region |
|
| Base Year | 2022 |
| Historical Year | 2018 - 2022 |
| Forecast Year | 2023 - 2030 |
Segment Analysis of the Spray Polyurethane Foam Market
The Spray Polyurethane Foam Market is segmented by Type, application, Application and region.
By Type
The Open-Cell segment held the largest market share in 2022:
By Type is sub-segmented into open-cell and closed-cell. The Open-Cell segment accounted for the highest market share 61% in the global Spray Polyurethane Foam market for 2022. Since open-cell spray polyurethane foam is more flexible, affordable, and has a higher level of moisture resistance than closed-cell spray polyurethane foam, it is widely used in building interiors. Millions of tiny cells that insulate the air seal make up open-cell spray polyurethane foam. Compared to what closed-cell spray polyurethane foam offers, they improve the energy efficiency, comfort, quietness, and dust-free quality of residential and commercial buildings. It is therefore ideal for use in interior residential and commercial applications, which will directly support market growth by 2030.
On the other hand, the closed-cell segment has a significant market share over the forecast period, due to Compared to open-cell SPF, closed-cell SPF offers superior thermal insulation due to its higher R-value. For buildings, this means substantial energy savings for both heating and cooling applications. The closed-cell structure provides better soundproofing properties and improves the air barrier by reducing drafts and air leakage. Building comfort and energy efficiency are enhanced as a result. Compared to open-cell SPF, closed-cell SPF is denser and more resilient to moisture penetration. This qualifies it for use in places like crawl spaces, basements, and roofs where exposure to moisture is probable.
By Product
The two-component high-pressure spray foam segment was the leading segment in 2022:
By Application, which is divided into two-component high-pressure spray foam and two-component low-pressure spray foam. the two-component high-pressure spray foam segment accounted for the largest share of the global Spray Polyurethane Foam market in 2022. Two-component high-pressure spray foam, two-component low-pressure spray foam, and one-component foam are the three product categories into which the spray polyurethane foam market is divided. In the spray polyurethane foam market, two-component high-pressure spray foam is the industry leader. Because of its chemical cure, the product is ideal for use in mold filling, cavity filling, and other insulating applications. Larger areas on new construction or major wall and roof renovations are more frequently insulated using high-pressure two-component systems. It is anticipated that the market for spray polyurethane foam's two-component high-pressure segment will grow as a result of this rising usage.
Two-component low-pressure spray foam segment is anticipated to register rapid growth in the forecast period, because 2K L-P foams are applied at lower pressures than 2K H-P foams, handling them is safer and easier. Application in places with restricted access or delicate surfaces is also made possible by this lower pressure requirement. 2K L-P foams are suitable for a wider range of applications, such as walls, roofs, attics, and crawl spaces, due to their good flexibility and adaptability to various shapes and forms. Comparing the lower pressure to 2K H-P foams, the improved spray control results in less waste and overspray. This reduces the impact on the environment and product loss.
Regional Analysis
Asia Pacific occupied the largest market share in 2022:
Asia Pacific has the largest revenue market share 45% in 2022, Asia-Pacific is the largest and fastest growing market for spray polyurethane foam in the forecast period. The increasing demand for residences and commercial establishments is expected to accelerate Asia Pacific's spray polyurethane foam market growth over the forecast period. The major economies of the Asia Pacific region contributing significantly to the growth of the spray polyurethane foam market are China, Japan, India, and South Korea. High growth in the construction sector of China is more likely to create immense opportunities for spray polyurethane foam to expand in the forecast period.
On the other hand, North America accounted for a significant share over the forecast period, The construction industry in North America is highly advanced technologically and is always looking for new materials and methods to improve building performance. These needs are met by SPF's superior insulation qualities, adaptability, and potential for quicker construction, which encourages its use in commercial, residential, and industrial projects. Strict energy efficiency standards for buildings have been imposed in several North American nations, encouraging builders to use energy-efficient solutions. Because of SPF's superior thermal insulation, buildings can meet or surpass energy performance standards and be eligible for tax breaks or financial incentives.
List of the prominent players in the Spray Polyurethane Foam Market:
- BASF SE
- Compagnie DE Saint-Gobain S.A.
- Ekisui Chemical Co. Ltd.
- Tosoh Corporation
- Nitto Denko Corporation
- Wanhua Chemical Group Co. Ltd.
- The DOW Chemical Company
- Trelleborg AB
- Bayer AG
- Huntsman Corporation
Segmentation Analysis of the Spray Polyurethane Foam Market
By Type
- Open-Cell
- Closed-Cell
- Two-component high-pressure spray foam
- Two-component low-pressure spray foam
- Insulation
- Water Proofing
- Roofing
- Asbestos Encapsulation
- Sealent
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Impact of the COVID-19 Pandemic on the Spray Polyurethane Foam Market:
Lockdowns and remote work forced people to spend more time at home, which led to an increase in home remodeling and improvement projects. Due to its use in roofing, insulation, and other building applications, SPF saw a rise in demand. Homeowners looked for ways to increase their homes' energy efficiency as energy prices increased in some areas. Due to its superior insulation qualities, SPF became a popular option for lowering heating and cooling energy usage, which increased demand for it. Packaging materials became more and more in demand as a result of the pandemic-related surge in online shopping. SPF's market expansion in this industry was facilitated by its lightweight and shock-absorbing qualities, which made it an ideal material for packaging delicate items. The pandemic disrupted global supply chains, which had an impact on the availability of chemicals and raw materials needed to produce SPF. This affected the supply and prices of the market by causing production delays and higher expenses. Numerous nations experienced economic downturns as a result of the pandemic, which decreased public and private investment in building projects. As a result, one important market segment—the construction industry—saw a drop in SPF demand. Some projects may have been delayed, or SPF may have been avoided in some situations, due to worries about workplace safety during SPF production and installation during the pandemic and possible health risks associated with isocyanate exposure.
