According to a new market report published by Lucintel, the future of the
North American spray foam insulation market looks promising with opportunities in the residential, commercial, and industrial sectors. The North American spray foam insulation market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to grow with a CAGR of 5% to 7% from 2020 to 2025. The major drivers for this market are increasing building and construction activities, stringent government regulations towards energy efficiency, and increasing demand for green building insulation.
In this market, closed cell and open cell spray foam are used in wall insulation, roof insulation, and concrete rehabilitation applications. Lucintel forecasts that wall insulation will remain the largest application over the forecast period due to its better acoustic and moisture resistant properties of spray foam insulation.
Within this market, spray foam for residential construction will remain the largest end use industry and it is also expected to witness the highest growth during the forecast period due to increasing use of green technologies to reduce energy consumption.
An emerging trend, which has a direct impact on the dynamics of the industry, includes growing demand for green buildings which focus on energy conservation and sustainable building practices. BASF, FFL Partners, Carlisle Companies, and Huntsman are among the major North American spray foam insulation manufacturers.
Lucintel, a leading global strategic consulting and
market research firm, has analyzed growth opportunities in the North American spray foam insulation market by application, product type, end use, and countries. Lucintel has prepared a comprehensive research report entitled “
Growth Opportunities in the North American Spray Foam Insulation Market 2019-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a trend and forecast for the North American spray foam insulation market by application, product type, end use, and countries as follows:
By Application [$M and M lbs shipment analysis for 2014 – 2025]:
Wall Insulation
Roof Insulation
Concrete Rehabilitation
Others
By Product Type [$M and M lbs shipment analysis for 2014 – 2025]:
By End Use [$M and M lbs shipment analysis for 2014 – 2025]:
Residential
Commercial
Others
By Countries [$M and M lbs shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
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