The spray foam insulation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Spray Foam Insulation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The spray foam insulation market size has grown strongly in recent years. It will grow from $2.15 billion in 2023 to $2.30 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to government incentives for energy-efficient building materials, growing demand for zero-energy homes, increased urbanization, expanding renovation and retrofitting projects, new homes, and rising DIY adoption.
The spray foam insulation market size is expected to see strong growth in the next few years. It will grow to $2.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising construction activities, increasing awareness of energy-efficient insulation, growing demand for eco-friendly insulation materials, and rising regulatory focus on reducing carbon emissions in construction. Major trends in the forecast period include technology integration in application systems, integration of smart sensors for quality control, innovation in foam durability, and integration of spray foam with renewable energy systems.
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Scope Of Spray Foam Insulation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Spray Foam Insulation Market Overview
Market Drivers –
Rising construction activities are expected to propel the growth of the spray foam insulation market going forward. Construction is the process of building or assembling infrastructure, such as buildings, roads, and bridges, involving planning, design, and execution. Rising construction activities are fueled by rapid urbanization, which increases the demand for housing and infrastructure, along with government initiatives that invest in large-scale infrastructure projects to support economic growth. Spray foam insulation improves energy efficiency in buildings by providing effective thermal insulation and air sealing, reducing energy costs, and enhancing indoor air quality by preventing drafts and moisture infiltration. For instance, in May 2024, according to the Office for National Statistics, a UK-based government department, in Quarter 1 2024, total new construction orders rose by 15.9%, amounting to an increase of £1,436 million ($1,920 million) compared to Quarter 4 2023. Therefore, rising construction activities are driving the growth of the spray foam insulation market.
Market Trends –
Major companies operating in the spray foam insulation market are focusing on developing innovative solutions, such as spray polyurethane foam insulation, to enhance energy efficiency and sustainability in construction. Spray polyurethane foam insulation refers to a lightweight, rigid foam material created by mixing polyol resin and isocyanate, which expands upon application to provide superior thermal resistance, air sealing, and moisture protection in various building applications. For instance, in June 2024, Huntsman Building Solutions (HBS), a US-based manufacturer of polyurethane spray foam products, launched Icynene Xpress 55, a new open-cell spray polyurethane foam insulation designed for unventilated attics and crawl spaces. This low-density product offers excellent thermal performance with an R-value of R-3.7 at 1 inch and R-13 at 3.5 inches, while also providing superior adhesion to various substrates and reducing outside noise and pollution. Icynene Xpress 55 meets stringent fire safety requirements set by the International Building Code and complies with AC-377 Appendix X, eliminating the need for an ignition barrier in utility-only attics.
The spray foam insulation market covered in this report is segmented –
1) By Foam Type: Closed-Cell, Open-Cell
2) By Density: High, Medium, Low
3) By Application: Wall Insulation, Attic Insulation, Roof Insulation, Concrete Rehabilitation, Other Applications
4) By End-Use Industry: Packaging, Building And Construction, Automotive And Transportation, Electrical And Electronics, Consumer Goods, Medical, Other End-Use Industries
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Regional Insights –
North America was the largest region in the spray foam insulation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spray foam insulation marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the spray foam insulation marker are BASF SE, Dow Inc., Honeywell International Inc., 3M Company, Covestro AG, DuPont de Nemours Inc., Sika AG, Owens Corning, Kingspan Group plc, Huntsman Corporation, RPM International, Sealed Air Corporation, CertainTeed, Tremco Incorporated, ArmorThane, Assured Insulation Solutions, Everchem Specialty Chemicals, FOAMETIX, Green Insulation, Lapolla Industries, Pacific Avenue Capital Partners LLC, Shakun Industries, Weatherization Services Inc.
Table of Contents
1. Executive Summary
2. Spray Foam Insulation Market Report Structure
3. Spray Foam Insulation Market Trends And Strategies
4. Spray Foam Insulation Market – Macro Economic Scenario
5. Spray Foam Insulation Market Size And Growth
…..
27. Spray Foam Insulation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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