Spray Foam Equipment Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
A spray form equipment is a machine used in insulation, roofing and protective coatings in industrial, commercial and residential areas using isocyanate and polyol resin. Both isocyanate and polyol resin are mixed for spraying and coating in applications like wall insulation, roof insulation, packaging, automobile manufacturing, and concrete rehabilitation. They enhance the quality of products and the look of places.
They are applied in automobile productions, product packaging to enhance quality of products, automotive, chemicals, manufacturing and construction.
The market is highly concentrated with top manufacturers having 25-30% of the market share. North America is the global market dominator due to the increase in its number of automobiles, high number of residential constructions and strict government regulations on energy efficiency in the region.
In January 2018, Icynene U.S Holding Corp and Lapolla Industries Inc finalized their merger that was geared to deliver to the Canadian construction market including builders, architects, contractors and end-users with a better more robust product mix and accelerate paces of research and innovation in the spay foam insulation sector. In December 2019, Huntsman Corporation announced its acquisition of Icynene-Lapolla, a leading North American manufacturer and distributor of Spray polyurethane foam(SPF) insulation systems for commercial and residential applications. Prior to the acquisition, Huntsman had acquired Demilec in 2018.
Spray Foam Equipment Market Growth and Trends
Driving factors for the industry :
• Growing industrialization in developing and developed countries can easily increase the growth of the spray foam market within a certain time period.
• Continuous growth and rise in the demand for automobiles in automotive industry due to strict safety standards of working environments in the automotive industry, is expected to boost the global spray foam equipment market during the forecast period.
• Within the spray foam insulation market, the development of fourth-generation of blowing agent and increase in the adoption of green buildings has made residential to be the largest end use industry and to witness the highest growth in the forecast period due to growth in potential homeowners who are looking for eco-friendly, energy conserving and efficient insulation for their homes and buildings.
• As the packaging of products are rising rapidly this can directly effect the quality of products and also promoting growth of the global spray foam equipment market.
• Growing production of commercial cars and passenger cars, led by lower interest rates, rise in the per capita income, and high demand from consumers will drive the global spray foam equipment market in the new future.
• These foams do not harm the ecosystem or human health once they are applied hence growing investment in construction industry and initiatives by various governments internationally to enhance the public infrastructure along with increase in spending power of consumers will boost the product demand in the near future.
• In developed countries of Europe and North America several tax benefits and regulations have been introduced for energy conservation, which has been an important driver for the product market growth over the recent years.
• Other major growth drivers for this market are the stringent government regulation and emerging trends towards the reduction of greenhouse gas emission and to increase energy efficiency in homes and buildings.
Challenges for the industry :
• Frequent price changes of raw materials may hamper the product market growth as these constituents are derived from benzene, a derivative of crude oil which will restraint the production and profit margin of suppliers.
• Moreover, its occupational health hazards also are risk factors for the spray foam market.
• Fire regulations will comprise a major restraint for the spray foam insulation market having issues related to thickness and application of spray foam that mostly depend on installers.
• There are problems that are being faced related to the application and thickness of the spray foam which is also dependent on the installers, hence will be a risk factor posing to be a hindrance to the Market.
Spray Foam Equipment Market Regional Analysis
Spray Foam Equipment Market Share and Competition
Key companies operating in this industry are: Graco Inc., Intech Equipment & Supply, Spray Foam Systems, Vag Polytech Private Limited, S.P.E.C. Technologies LLC, Demilec Inc., Specialty Products Inc., Profoam Corporation, Lapolla Industries, Inc., Oak Ridge Foam & Coating Systems, Inc., GS Manufacturing, and Henry Company. Other industries in this domain that is growing at a high CAGR include Pulsation Dampeners Market and Well Logging Equipment Market.
Spray Foam Equipment Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2020 - 2027)
• Closed Cell
• Open Cell
Infrastructure Type Analysis (Revenue, USD Million, 2020 - 2027)
• Residential
• Commercial
• Industrial
Distribution Channel Analysis (Revenue, USD Million, 2020 - 2027)
• Direct Sales (OEM)
• Indirect Sales
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Packaging
• Building
• Wall Insulation
• Roof Insulation
• Concrete Rehabilitation
• Others
Industry Analysis (Revenue, USD Million, 2020 - 2027)
• Automotive
• Packaging
• Chemical
• Manufacturing
• Construction
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Spray Foam Equipment Market Companies
• Graco Inc.
• Intech Equipment & Supply
• Spray Foam Systems
• Vag Polytech Private Limited
• S.P.E.C. Technologies LLC
• Demilec Inc.
• Specialty Products Inc.
• Profoam Corporation
• Lapolla Industries, Inc.
• Oak Ridge Foam & Coating Systems, Inc.
• GS Manufacturing
• Henry Company
Available Versions: -
United States Spray Foam Equipment Market Research Report
Europe Spray Foam Equipment Market Research Report
Asia Pacific Spray Foam Equipment Market Research Report
India Spray Foam Equipment Market Research Report
