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Spray Polyurethane Foam Market Size

Report ID: GMI2096
Published Date: Nov 2024
Report Format: PDF

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Spray Polyurethane Foam Market Size

The global spray polyurethane foam market size was valued at USD 4.7 billion in 2023 and is estimated to grow at a CAGR of over 4.6% from 2024 to 2032. The growing population and rapid urbanization are key factors driving the growth of the market. As more people need housing and infrastructure, especially in cities, construction activities increase. This boosts the demand for energy-efficient materials like SPF, used for insulation, air sealing, and waterproofing in both new buildings and renovations. Urbanization leads to more construction in cities, where SPF is popular for its durability, cost-effectiveness, and ability to meet strict energy-efficiency standards.

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Additionally, cities are becoming more environmentally conscious, focusing on sustainable building practices. SPF, with its excellent thermal insulation, helps reduce energy use and lower heating and cooling costs. As a result, SPF is being used more in residential, commercial, and industrial projects, driving market growth. The need to retrofit older buildings in rapidly urbanizing areas and the rise in green building certifications and energy codes also increase the demand for SPF products. In summary, population growth, urban development, and the push for energy-efficient, sustainable construction are driving the SPF market's growth.

Spray Polyurethane Foam Market Report Attributes
Report Attribute	Details
Base Year:	2023
Spray Polyurethane Foam Market Size in 2023:	USD 4.7 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	4.6%
2024 – 2032 Value Projection:	USD 7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	230
Tables, Charts & Figures:	150
Segments covered:	By Type, By Product, By application
Growth Drivers:	Growing population and rapid urbanization Growing demand from sport and leisure industry
Pitfalls & Challenges:	Stringent Government Regulations Growing Competition from Fiberglass and Cellulose Insulation Solutions

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of spray polyurethane foam reached USD 4.7 billion in 2023 and is set to grow at a 4.6% CAGR from 2024 to 2032, driven by the growing population and rapid urbanization.

The two-component high-pressure spray foam segment is expected to reach USD 3.2 billion by 2032, owing to its excellent insulation, durability, and versatility.

The U.S. market is expected to reach USD 1 billion by 2032, driven by strong demand for energy-efficient building materials and supportive regulations.

The key players in the industry include Accella Corporation, BASF SE, CertainTeed, Dow, Huntsman, Icynene-Lapolla, Invista, Isothane Ltd., Johns Manville, LyondellBasell Industries, NCFI Polyurethanes, Rogers Corporation, Sekisui Chemical Co. Ltd., Soprema, and Specialty Products Inc.