The Quest for Energy-Efficient Buildings Will Drive the Demand for Sprayed Foam Insulation, 2023The annual global market size is 2738billion dollars
An overview of the global spray foam insulation industry
According to Bergers Consulting, the market size of the global spray foam insulation material industry in 2023 will be 27$3.8 billion, growing at a CAGR of 6. 2023-202823%。
Spray foam insulation is a popular alternative to traditional insulation, such as glass and metal, and is often used in new construction and renovation projects. Spray foam insulation combines thermal protection while providing excellent air barrier properties, and spray foam insulation solves the problem of building insulation design.
Roof insulation holds the largest market share
In the construction industry, insulation is an important, cost-effective, energy-efficient building material that helps reduce greenhouse gas emissions and protect the environment. Insulation keeps the building cool in the summer and warm in the winter, while also reducing the spread of noise. Moreover, thermal insulation also helps in energy savings, and the walls, roofs, and floors of buildings can be insulated, and the global quest for energy-efficient buildings is expected to drive the demand for the sprayed foam insulation market in the coming years, with the roof insulation segment accounting for the largest market share in the application segment.
Development status of spraying foam insulation materials in various regions
In 2022, North America dominated the spray foam insulation market with a market share of 5683%。With the rapid growth of the construction industry in North America, the market is expected to grow substantially, driven by the use of foam spray insulation and the retrofitting of existing wall structures with a new technology in the United States called "wall injection". With the increasing demand for roof insulation across the region and the increasing requirements for ceiling insulation, North America is expected to be followed by the consumption of spray foam insulation.
The European market is set to grow rapidly due to the increasing use of spray foam insulation in existing and new construction applications that comply with the UK's new building codes. Stringent** regulations are designed to reduce greenhouse gas emissions and improve the energy efficiency of homes and buildings. In addition, the sector is supporting energy conservation, and the demand for sprayed foam insulation for construction projects will also increase.
The construction industry in the Asia-Pacific region is growing at a significant rate, with China, India, and Southeast Asian countries being hot spots. With the increasing middle-class population, the demand for sprayed foam insulation is expected to be further driven during the ** period.