A spray foam equipment is a sophisticated machine used for insulation, roofing and protective coatings in industrial, commercial and residential areas. Spray foam equipment use two key materials: isocyanate and polyol resin. These two materials are mixed with each other so as to perform the process of spraying or coating for various applications such as packaging, wall insulation, roof insulation, and concrete rehabilitation. Spray foam when sprayed over a surface, can expand up to 30 to 60 times its liquid volume. Spray foam usage has made a revolutionary change in the working of construction and packaging industry. Characteristics such as taking a form of insulation, air sticking on around corners, roofs, walls and on contoured surface has allowed spray foam to be used in variety of application including wall insulation, roofing, seal cracks and gaps containers. The growing use of spray foam in industrial and residential construction activity and packaging industry is expected to fuel the growth of global spray foam market over the forecast period.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the significant factors contributing towards the growth of spray foam market is the strong demand from packaging Industry. Moreover, Spray foam is widely used in construction industry for its variety of application including insulation, sealing etc. Spray foam insulation is also used in engineering solutions for foundations, buildings, roadways and concrete repair. In addition to this the rising demand of green building materials is expected to further fuel the global demand in spray foam market. Raw material such as MDI (Methylene diphenyl diisocyanate) and TDI (Toluene diisocyanate) that are used in production of spray foam, cause severe health related problem including asthma and skin irritation. This may hamper the growth of global spray foam market.
The global spray foam equipment market trends are as follows:
Surge in popularity of green building materials
Building and construction sector accounts for more than two-thirds of total greenhouse gas emissions across the globe. Green building materials are employed in construction industry to address various environment challenges including anomalous climate change, natural resource depletion, atmospheric pollution, contamination of freshwater resources, and loss of biodiversity. Eco-friendly nature, durability, and energy efficiency of green building materials make them ideal for use in designing of residential and non-residential buildings. Spray foam insulation products provide thermal insulation and resist air flow. Hence, they help to neutralize what is estimated to be the source of almost half of a building’s energy loss. As much as 40% of a building’s energy can be lost due to air leaks. As energy codes for architectural designs encourage higher and higher levels of efficiency, architects are increasingly turning towards the use of spray foam as a building material to mitigate heat transfer in their designs as through building envelope insulation, this energy loss problem can be addressed. Thus, there is a great potential for reducing greenhouse emissions by enhancing the energy efficiency of buildings and communities. Reductions in greenhouse emissions can be accomplished by construction of new green buildings with low energy consumption and retrofitting of existing buildings.
Population, urbanisation and disposable income
Rapid urbanization and growth in real estate business has significantly bolstered the growth of furniture market. According to data of United Nations (U.N) more than 54% of global population is living in urban areas, which is generating employment opportunities and improving income level of individuals. Due to the aforementioned factors of growing population, urbanisation and increased standard of living of consumers around the world, the global spray foam equipment market is also set to grow. Rising number of nuclear families is resulting in increasing demand for space-saving technology. Spray foam insulation uses less wall space, when compared with other materials. Spray foam solutions reduce repair and maintenance costs over time for a variety of infrastructure. Low operational & maintenance costs and environmental friendly nature of spray foam are the major factors that drive the spray foam equipment market across the globe.
Key benefits of the report:
- This study presents the analytical depiction of the global spray foam equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global spray foam equipment market share.
- The current market is quantitatively analyzed to highlight the global spray foam equipment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global spray foam equipment market analysis based on competitive intensity and how the competition will take shape in coming years.
Spray Foam Equipment Market Report Highlights
By End Users
Key Market Players
Profoam Corporation, Bayer, Graco Inc., Lapolla, S.P.E.C. Technologies LLC, Oak Ridge Foam & Coating Systems, Inc., Intech Equipment & Supply, BASF, Demilec among others., The Dow Chemical Company