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Spray Foam Market Size

Report ID: GMI5165
Published Date: Nov 2024
Report Format: PDF

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Spray Foam Market Size

The global spray foam market was valued at USD 2.4 billion in 2023 and is estimated to grow at a CAGR of over 6.2% from 2024 to 2032, due to increasing demand for energy-efficient insulation. As energy costs rise and environmental concerns grow, property owners are turning to spray foam for its ability to create an airtight seal, reduce air leakage, and maintain consistent indoor temperatures. This efficiency leads to lower energy bills and a smaller carbon footprint, making spray foam a popular choice, especially in areas with extreme climates.

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Additionally, government support is fueling the market through incentives, rebates, and stricter building codes. Energy standards like LEED in the U.S. promote the use of efficient materials such as spray foam. These policies have made energy-efficient insulation a priority for builders and developers in both residential and commercial sectors. Growing awareness of climate change is driving interest in sustainable building materials. Spray foam helps reduce HVAC energy use, lowering greenhouse gas emissions. Manufacturers are also developing low-VOC formulations and eco-friendly blowing agents to address environmental concerns. This shift towards green construction is expanding spray foam adoption as it meets both energy-saving and environmental goals.

Spray Foam Market Report Attributes
Report Attribute	Details
Base Year:	2023
Spray Foam Market Size in 2023:	USD 2.4 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	6.2%
2024 – 2032 Value Projection:	USD 4.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	230
Tables, Charts & Figures:	83
Segments covered:	By Product Type, Density, End Users, Distribution Channel, Region
Growth Drivers:	Increasing demand for energy-efficient insulation solutions Rising construction activities in residential and commercial sectors Growing awareness of environmental sustainability and green building materials
Pitfalls & Challenges:	Health and environmental concerns regarding chemicals in spray foam High initial costs and installation challenges

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Spray foam market is slated to surpass $2,728.9 million by 2027 and will witness a CAGR of 6.8% from 2021 to 2027 with the rising building construction and remodeling activities across the globe.

Spray foam is majorly used in residential and commercial building construction applications owing to its ability to form continuous insulation and air sealing barriers on walls, roofs, around corners, and other surfaces.

The residential application segment will generate a demand for around 500 kilo tons by 2027 with rising construction activities in this sector driven by increasing population and easy availability of home loans at low-interest rates.

North America will capture around 45% share of global spray foam market by 2027 owing to the increasing commercial building construction activities and refurbishment projects in the region.

Key participants involved in spray foam industry are BASF, CertainTeed, Demilec, Carlisle Companies, Purees, Techno Foam Co., Ltd., Synthesia Technology, Isothane Ltd., Genyk, SWD Urethane, International Cellulose Corp., Icynene, Inc., Accella, Rhino Linings Corporation, and Specialty Products, Inc., among others.