LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global spray polyurethane foam market to grow at a CAGR of over 8% during the forecast period, according to their latest market research report.
The use of alternative blowing agents is one of the major trends being witnessed in the global spray polyurethane foam market 2018-2022. Blowing agents, such as HCFCs and HFCs, have already being phased out owing to their harmful effects on the environment and human beings. Pentane is a low-cost blowing agent, which produces low-density foams with low thermal conductivity and enhanced properties. Methyl formate and dimethoxymethane are also regarded as blowing agents for rigid foams.
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According to Technavio analysts, one of the key factors contributing to the growth of the global spray polyurethane foam market is the increasing construction activities:
Global spray polyurethane foam market: Increasing construction activities
During the forecast period, the need for spray polyurethane foam is expected to increase owing to the growing demand for energy-efficient infrastructure facilities and housing with effective furnishing and flooring material. Polyurethane foam is a chemical product used in common construction applications that require filling, sealing, bonding, and insulation. When compared to conventional roofing systems, spray polyurethane foam roofs are weather-proof, lightweight, durable, and require less maintenance.
According to a senior analyst at Technavio for research on plastics, polymers, and elastomers, “Spray polyurethane foams have high thermal resistance and acoustic insulation. Therefore, they are used in applications, such as insulation of water pipes. bonding and sealing roofs and walls, and installation of door and window frames. Spray polyurethane foams are sprayed on roofs and walls in order to increase the thermal resistance of buildings. Developing countries such as Malaysia, India, China, Brazil, and Indonesia are expected to experience an increase in construction activities as they are focusing on green buildings. This will drive the market during the forecast period.”
Global spray polyurethane foam market: Segmentation analysis
The global spray polyurethane foam market research report provides market segmentation by application (residential and commercial), by type (open-type and close-type), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The residential segment held the largest market share in 2017, accounting for 60% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of 43%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by nearly 2%.
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