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Rigid Spray Polyurethane Foam Market 2019 In-Depth Analysis of Industry Share, Size, Growth, and Key Players Analysis like Henry Company, Rhino Linings, Mitex International, BASF | Forecast 2024
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Expansion in Asia Pacific construction industry will positively influence the rigid SPF market growth in coming years due to economic growth, decline in prices of commodities & energy and growth in BRICS nations. The usage of the product to fill the gaps, cracks, voids, crevices of buildings and adheres to irregular surfaces to form an air sealing insulation owing to its ability to expand at the time of application process. Product demand is largely dependent on the construction industry as more than 90% of the entire rigid SPF production is employed in construction and renovation activities, including interior and exterior of buildings.
Once applied, the product does not cause harm to the human health or eco-system. Therefore, the product has higher acceptance in this sector. Demand for these foams is also driven by increasing investments in the construction segment. Foreign direct investment (FDI) stimulates the construction industry in Asia Pacific and recorded over 5% increase in FDI inflow in 2015 due to ongoing government social & public mega infrastructure projects. This in turn will boost the rigid spray polyurethane foam market in this region.
Oscillation in the prices of raw materials and health related issues generated during production process are the key restraining factors for the rigid spray polyurethane foam market growth in forecast timeframe. The product is manufactured from petroleum derivatives such as methylene diphenyl diisocyanate and tolylene diisocyanate. Volatility in crude oil prices due to oligopolistic nature of the crude oil market has caused significant product price fluctuation. Hence, the supply of crude oil will be the key factor that is restraining the rigid spray polyurethane foam market growth throughout the forecast spell.
The end-use segment of the rigid SPF market is segregated into industrial, agricultural, residential, commercial and institutional buildings. Among these, industrial buildings will likely capture around 25% share of the total end-use segment in rigid SPF market over forecast period. In terms of value, institutional buildings segment is likely to generate around USD 270 million by 2024. This is all due to excessive usage of the foams in buildings walls, ceilings and roofs for insulation and sealing purpose.
The roof application segment is said to grow over 5% CAGR throughout the forecast timeframe owing to excessive construction activities in emerging economies.
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Based on value, Canada rigid spray polyurethane foam market is said to grow around 7.5% CAGR in the near future due to the significant residential & industrial buildings renovation and construction activities.
Few producers in the rigid spray polyurethane foam market include Henry Company, Rhino Linings, Mitex International, BASF and others. These companies are involved in development of the product, R&D, expansion and merger ventures. In June 2017, Henry Company acquired TQ3 North America which is in the fluid applied waterproofing systems technology. This move will help the company to reinforce their core business area.
Rigid spray polyurethane foam market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Rigid Spray Polyurethane Foam Market by End-Use
o Commercial buildings
Wall
Roof
Floor
Others
o Residential buildings
Wall
Roof
Floor
Others
o Industrial buildings
Wall
Roof
Floor
Others
o Agricultural buildings
Wall
Roof
Floor
Others
o Institutional buildings
Wall
Roof
Floor
Others
Rigid Spray Polyurethane Foam Market by Application
o Wall
o Roof
o Floor
o Others
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The above information is provided on a regional and country basis for the following:
North America
U.S.
Europe
U.K.
Asia Pacific
China
Middle East and Africa
Some of the Major Highlights of TOC coveres:
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Data Sources
Chapter 2: Executive Summary
Business trends
Regional trends
Product trends
End-use trends
Chapter 3: Rigid Spray Polyurethane Foam Industry Insights
Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape
Chapter 4: Rigid Spray Polyurethane Foam Market, By Region
Chapter 5: Company Profile
Business Overview
Financial Data
Product Landscape
Strategic Outlook
SWOT Analysis
Read More reports at:https://www.marketwatch.com/press-release/phase-change-materials-market-growth-factors-size-analytical-overview-trends-and-forecast-to-2024-2019-01-17
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