Spray Polyurethane Foam Market size was valued at USD 3.1 billion in 2021 and is expected to grow at a CAGR of 6.7% from 2022-2028. SPF displays greater efficiency of conservation of energy storage as compared to other traditional substitutes including glass and therefore partakes a reasonably lesser carbon footprint. Environmental reimbursements combined with stringent regulation imposed by government for energy effective constructions have positively influenced the market growth. Growing construction industry consequently raises the demand for SPF which thereby boosts the growth of market. However raw materials employed for the production of these foams predisposes the human body to certain health hazards such as asthma, besides fluctuation in the cost of raw materials acts as a major limitation for spray polyurethane foam market growth. Because of the favourable need for housing facilities in emerging nations, the spray polyurethane foam market will be driven by this industry’s rapid growth. Initiatives by various governments throughout the world to improve public infrastructure, as well as an increase in consumer buying power, will boost the construction industry globally. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. in addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
In March 2018: Huntsman International LLC acquired Demilec, a Leading North American spray polyurethane foam insulation manufacturer and distributor.