Spray Polyurethane Foam Market Grows on Demand for Eco-Friendly Building Solutions

The Spray Polyurethane Foam market size is expected to grow from USD 2.1 billion by the end of 2024 to USD 3.5 billion by 2033, registering a revenue CAGR of 5.8% during the forecast period. The spray polyurethane foam (SPF) market is experiencing strong growth, driven by the rising demand for environmentally friendly building materials and energy-efficient construction. With increasing focus on sustainability in the building industry, SPF has become a preferred choice for insulation and waterproofing applications across residential and commercial sectors.
SPF stands out for its excellent insulation properties, helping to maintain indoor temperatures, reduce energy consumption, and lower greenhouse gas emissions. This aligns with global efforts to enhance energy efficiency and adopt greener construction practices. In particular, government policies like the U.S. Inflation Reduction Act of 2022, which allocated $370 million in grants to promote energy-efficient building codes, have given a boost to SPF adoption.

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Beyond insulation, SPF is also gaining popularity for its exceptional water resistance and durability. It forms a continuous, waterproof barrier that prevents moisture penetration, making it ideal for use in roofing, foundations, and other areas exposed to water. These characteristics make SPF particularly effective in humid or rainy regions where traditional materials often fall short.

However, the market faces challenges due to the high initial costs of SPF installation. The material and labor involved in SPF application are more expensive compared to traditional insulation options such as fiberglass or cellulose. Application requires skilled professionals and specialized equipment, contributing to higher costs. According to data from Angi, open-cell SPF ranges from $1.20 to $1.50 per square foot, while closed-cell SPF costs between $1.50 and $2.30 per square foot due to its higher density and moisture resistance.

Despite the upfront costs, SPF's long-term benefits in energy savings and building protection are attracting a growing number of users. Concerns about proper installation and moisture-related risks have led to the development of inspection protocols, such as the one introduced in March 2023 by the UK's Property Care Association. This protocol includes training for surveyors to inspect foam-lined roofs, helping to enhance the credibility and safety of SPF installations.

Market Segmentation Insights

In terms of application, insulation continues to lead the SPF market and accounted for the highest share in 2024. SPF's ability to form an airtight, seamless barrier significantly enhances thermal efficiency. It is especially useful in buildings aiming to reduce heating and cooling needs. The U.S. industry is also moving away from high-global warming potential (GWP) hydrofluorocarbon (HFC) blowing agents to low-GWP hydrofluoroolefin (HFO) alternatives. From January 1, 2025, manufacturing SPF products containing HFCs will be banned in the U.S., with a complete sales ban starting in 2028, further pushing the market toward environmentally friendly options.

Waterproofing is projected to be the fastest-growing application segment in the coming years. SPF's ability to create a gap-free, fully bonded barrier makes it an ideal solution for protecting structures from water damage. This is particularly valuable in roofing, basements, and foundations, where water infiltration can be a significant concern.

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Spray Polyurethane Foam Top Companies and Competitive Landscape

Market competition in the Spray Polyurethane Foam industry is characterized by the presence of global and regional players such as Icynene-Lapolla, Bayer MaterialScience, Demilec, Huntsman Corporation, BASF, Carlisle Construction Materials, Dow Chemical Company, Sika AG, Firestone Building Products, Johns Manville, and others. The global Spray Polyurethane Foam market is relatively fragmented, with a high level of competition.

The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.

In May 2022, BASF worked in collaboration with King Long United Automotive (Suzhou) Co., Ltd. on the supply of spray polyurethane foam for thermal insulation in bus building. The products have better flame-retardant properties and meet the strict VOC regulations.

Some of the key companies in the global Spray Polyurethane Foam Market include:

Icynene-Lapolla

Bayer MaterialScience

Demilec

Huntsman Corporation

BASF

Carlisle Construction Materials

Dow Chemical Company

Sika AG

Firestone Building Products

Johns Manville

Spray Polyurethane Foam Latest Industry Updates

In May 2024, Huntsman Building Solutions introduced the Icynene Series spray foam insulation at the SprayFoam 2024 Convention & Expo in Las Vegas. The product offers open- and closed-cell spray foam solutions with market-leading spray ability and overall performance. The firm offered to include its best-in-class premium service and support package, including building science assistance and technical service with the purchase.

In October 2022, Huntsman Corporation has its guidelines adopted by the Residential Property Surveyors Association. It had been working together with industry groups, installers, surveyors, valuers, lenders, and heritage organizations, besides academics, towards new inspection and installation protocols in respect of spray foam and evident sign of proactivity within this space of regulatory compliance.

BASF SE partnered with King Long United Automotive (Suzhou) Co., Ltd. in May 2022 to provide spray polyurethane foam for insulation in bus production. The new product provides enhanced flame-retardant performance and meets strict VOC emission standards.

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Spray Polyurethane Foam Market Segmentation Analysis

By Type Outlook (Revenue, USD Billion; 2020-2033)

Open-cell

Closed-cell

By Product Outlook (Revenue, USD Billion; 2020-2033)

Two-component high-pressure spray foam

Two-component low-pressure spray foam

One-component foam

By Application Outlook (Revenue, USD Billion; 2020-2033)

Insulation

Waterproofing

Roofing

Asbestos Encapsulation

Sealant

Others

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The all-inclusive report on the Global Spray Polyurethane Foam Market added by Emergen Research demonstrates that the global Spray Polyurethane Foam market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Spray Polyurethane Foam market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.

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Radical Features of the Spray Polyurethane Foam Market Report:

The report encompasses Spray Polyurethane Foam market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements

An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently

Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies

Supply chain analysis along with technological advancements offered in the report

The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Spray Polyurethane Foam industry

Look Over transcripts provided by Emergen Research

Spray Polyurethane Foam Market Size@ https://www.emergenresearch.com/industry-report/spray-polyurethane-foam-market/market-size

Spray Polyurethane Foam Market Share@ https://www.emergenresearch.com/industry-report/spray-polyurethane-foam-market/market-share

Spray Polyurethane Foam Market Trends@ https://www.emergenresearch.com/industry-report/spray-polyurethane-foam-market/market-trends

Spray Polyurethane Foam Regional Market Demand@ https://www.emergenresearch.com/industry-report/spray-polyurethane-foam-market/regional-market-demand

Spray Polyurethane Foam Market Analysis@ https://www.emergenresearch.com/industry-report/spray-polyurethane-foam-market/market-analysis

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