High Demand in Construction Sector Drives Global Spray Polyurethane Foam Market 7.0% CAGR

A recent market intelligence study published by Transparency Market Research, titled “Spray Polyurethane Foam Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, projects that surging demands from the construction sector will significantly fuel demand for a variety of spray polyurethane foams (SPF) on a global front.The report states that the market, which had a valuation of US$1135.3 mn in 2012, will expand at a 7.0% CAGR between 2013 and 2019 and reach US$1823 mn by 2019.The report states that the global SPF market is driven primarily by the rising demand from the flourishing construction industry, especially in developing regions, implementation of government regulations regarding the use of cleaner and greener varieties of petrochemical products, and increased focus on energy efficiency.

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Spray polyurethane products are derived by mixing isocynates and polyols in the presence of catalysts. Generally used as an insulating material on construction substrates, SPFs possess higher energy conservation qualities as compared to conventional substitutes such as glass. As such, SPFs leave a lower carbon footprint on the environment.

The report segments the global spray polyurethane market on the basis of three criteria: product type, application, and geography.On the basis of product type, the market is segmented into closed cell, open cell, and others including one component foam and high density spray polyurethane foam. On the basis of application, the market is segmented into commercial roofing, residential roofing, residential walls, commercial walls, and others including transportation, medical, and telecom. Geography-wise, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW).

Of the key product segments studied in the report, the segments of open and closed cell SPF account for a massive 90% of the market, leaving the others product segments little scope for development. Ongoing consumption trends suggest that these product segments will continue to expand at a rapid pace over the report’s forecast period.Of the key application segments, the segment of residential roofing was the largest in 2012. In terms of geography, North America dominated the global market and accounted for over 44% if the global SPF market in 2012.

The report also provides a detailed overview of the competitive landscape of the global spray polyurethane market with the help of detailed business profiles of some of the major companies operating in the market, a SWOT analysis of these companies, and relevant details regarding finances and business strategies of these companies. An analysis of the recent developments and their impact on market’s future growth prospects is also given in the report.

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The report states that the top five companies, including Lapolla Industries, BASF Corporation, Demilec, and Bayer MaterialScience, collectively held 45% of the global market in 2012. Other major players in the market are The Dow Chemical Company, Premium Spray Products, Inc., CertainTeed Corporation, Icynene Inc., NCFI Polyurethanes, and Rhino Linings Corporation.

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