Spray Polyurethane Foam Market to Witness a Handsome Growth during 2021 – 2026

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The Spray Polyurethane Foam Market was valued at US$ 2.7 Billion in 2020 and is projected to reach US$ 4.4 Billion by 2026, registering a CAGR of 8.1% during the forecast period.

The Spray Polyurethane Foam Market is segmented by Cell Structure Type (Open Cell Structure and Closed Cell Structure), Application Type (Roofs, Walls, Floors, and Others), End-Use Type (Residential, Commercial, and Industrial), Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Segment Analysis

Cell Structure Type

The spray polyurethane foam market is segmented as open-cell structure and closed-cell structure. The closed-cell structure is expected to remain the larger and faster-growing segment of the market and occupied a major market share of more than 75% in 2020. There is a high significance of closed-cell structure SPF in exterior applications such as roofs and walls. On the contrary, the open-cell structure is mainly preferred in interior applications such as ceilings and floors.

Application Type

The market is segmented as roofs, walls, floors, and others. Walls are estimated to remain the most dominant users of the market and it holds a revenue share of more than 37% in 2020. Increased energy conservation needs, superior wall thermal performance, fire protection, termite control, and moisture control are key requirements fueling the segment’s market. Roofs also account for a sizeable opportunity in the market.

End-Use Type

The market is segmented as residential, commercial, and industrial. Residential is estimated to be the dominant segment and it holds a revenue share of more than 70% in 2020.

Regional Analysis

North America is expected to remain the largest market and it holds a revenue share of more than 46% in 2021. The region has a high focus on building insulation with a strong reliance on spray polyurethane foam due to regional government incentives and laws that promote energy-efficient infrastructure. North America and Europe have a higher penetration of spray polyurethane foam compared to the Asian and African markets. However, there exists a strong growth potential in the emerging Asian and African economies in the coming years.

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