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6.5% growth for Rigid Spray Polyurethane Foam Market by 2024, global revenue to reach $1.1bn

Author : Rahul Varpe | Published Date : 2019-07-01 

Global Rigid Spray Polyurethane Foam Market research report is added by Global market insights, inc by covering all major market aspects. The report also touches the key scenarios like top players, competition, types, applications, regions, recent developments and future market predictions.

Rigid Spray Polyurethane Foam market will likely surpass USD 1.1 billion by 2024; according to a new research report. 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.

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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.

Rigid Spray Polyurethane Foam Market by Application

  • Wall
  • Roof
  • Floor
  • Others

 

The roof application segment is said to grow over 5% CAGR throughout the forecast timeframe owing to excessive construction activities in emerging economies.

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.

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Partial Chapter of the Table of Content

Chapter 5.  Rigid Spray Polyurethane Foam Market, By Application

5.1.  Global rigid spray polyurethane foam market share by application, 2016 & 2024

5.2.  Wall

5.2.1.     Market estimates and forecasts, 2013 - 2024

5.2.2.     Market estimates and forecasts by region, 2013 – 2024

5.3.  Roof

5.3.1.     Market estimates and forecasts, 2013 - 2024

5.3.2.     Market estimates and forecasts by region, 2013 – 2024

5.4.  Floor

5.4.1.     Market estimates and forecasts, 2013 - 2024

5.4.2.     Market estimates and forecasts by region, 2013 – 2024

5.5.  Others (ceilings, plumbing systems, etc.)

5.5.1.     Market estimates and forecasts, 2013 - 2024

5.5.2.     Market estimates and forecasts by region, 2013 – 2024

Read more news @ https://www.openpr.com/news/1774408/Rigid-Spray-Polyurethane-Foam-Market-Overview-by-2024-Leading-Key-Players-BASF-Lapolla-Industries-NCFI-Polyurethanes-Dow-Chemical-Bayer-Material-Science-Icynene-Inc-Premium-Spray-Products.html

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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