Spray Polyurethanes Foam Market is Expected to Boom Worldwide By 2023 : BASF, Bayer, lapolla, The Dow Chemical Company, Demilec and Certain Teed are Top Key Players
Spray polyurethane foam (SPF) is a high performance spray applied plastic that insulates walls and make the wall heat resistant, and it also reduces unwanted air infiltration that happen due to cracks, seams and joints in the walls. It has comprehensive strengths such as high insulation with less thickness and lower heat conductivity. It can save energy throughout the life of a building, allowing the owner to use smaller capacity cooling and heating equipment. SPF is better and more durable than any type of insulation materials. The conventional insulation loses heat quickly in extreme cold conditions; however, SPF can increase the resistance power of the air sealing irrespective of the weather conditions. SPF is relatively easy to be used to fill the gaps of the walls and ceiling cavity. This saves more energy than conventional insulation methods. Though SPF is lagging behind the conventional technologies, it is estimated to surpass the conventional market and grow at a comparatively faster rate. It is widely promoted as green building material.
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The growth of the SPF market is influenced by many factors such as swapping green building techniques, an ageing health conscious population, government regulations, increased demand for bio based products, and greater awareness among end users about the energy usage in the buildings. The limiting factors of the SPF market are the threats it posses to human health. The remnants remain in the natural environment for a period of time from the time it is applied to the walls, and the exposure to the remnants of SPF chemicals found in vapors, aerosols, dust or on the surfaces affect health and cause chronic disease such as asthma. This factor is hampering the growth of the market.
The global market for foamed plastic (polyurathanes) is expected to reach $ 20.40 billion by 2020. High demand for low cost, long lasting materials and rising concern of energy efficiency in applications mentioned above are expected to create lot of opportunities for this market.
SPF type market analysis
The SPF type market is segmented into two-component open cell foam (low density), two-component closed cell foam (medium density), & two-component closed cell foam (high density) and one component foam (OFC). Closed-cell foam is the largest revenue generating segment due to its core strength such as better R-value than open-cell foams.
SPF construction market analysis
The SPF construction market is segmented into commercial construction (light, heavy, and industrial) and residential construction (single family, multifamily). Commercial construction is the largest revenue generating segment due to significant contribution to energy loss.
SPF application market analysis
SPF application market is segmented into residential walls, residential roofing, commercial walls, commercial roofing, and others (medical, telecom, transportation, etc). Commercial roofing is the largest revenue generating segment due to its strength of adding value to the structure. SPF, once applied to the roofs would help in energy consumption, up to 30%-70% and it also acts as a protective shield that enhances the life span of the walls.
SPF geography market analysis
SPF geography market is segmented into North America, Europe, Asia Pacific and RoW. North America is the dominating segment of this market due to its increasing adoption of eco-friendly methods. .
The key strategies adopted by the companies to expand in the SPF market are product launch, mergers & acquisitions and agreements & collaborations. The companies profiled in this report are BASF, Bayer, lapolla, The Dow Chemical Company, Demilec and Certain Teed.
High Level Analysis
The report analyzes various macro environment of the SPF market using porter’s analysis. According to porter’s analysis, the bargaining power of the supplier is high due to high cost of switching. The bargaining power of buyer is low due to the specialized products of SPF market and threat of substitute is low due to unavailability of alternate products. The report provides various winning strategies adopted by the top companies.
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• Analysis of the SPF market on the basis of various segments is expounded in the report, and segmental analysis is done to identify the largest revenue generating segment
• To study the various factors that are enhancing and restraining the growth of the market that would help the players in deeply understanding the market
• Study of SWOT and analysis of the captivating strategies adopted by the players in the market is conducted and that would help in assisting the stakeholders to take actionable decisions
• Analysis of the current market scenario, forecasts of the future transition trends and projected revenue of the market through 2013-2020 are expounded in the report. Thus, help stakeholders analyze the market
• To find out the recent trends of the SPF market and opportunities that would open doors for the investors to participate in the market, which in turn would help in the expansion of strategies
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