According to the research report titled ‘Spray Foam Market Size, Share and Industry Analysis Report by Product (Open Cell, Closed Cell), Density (Low, Medium, High) and Application (Construction [Residential Commercial], Packaging), Regional Outlook, Application Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, spray foam market is anticipated to register exponential growth through 2027.

Rising urbanisation in developing countries and strict government policies, regulations governing energy efficiency, and shifting preferences towards bio-based products are the major growth determinants for spray foam market.

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For the uninitiated, spray foam is a spray-applied material that is commonly used to insulate buildings and cover cracks and gaps to make them more comfortable and energy efficient. This type of insulation is well-known for its resistance to heat transfer and provides a highly effective solution for limiting unwanted air penetration through seams, cracks, and joints. It retains its shape indefinitely, unlike traditional insulating materials. During installation, it fills crevices, fractures, and gaps, and is known to remain intact without compression or sagging over time.

Flourishing global construction and infrastructure sector, in consort with focus on designing energy-efficient buildings have fuelled the industry growth in the recent years.

Speaking of product terrain, the market is classified into closed cell, and open cell. As per density, the industry is divided into low, high, and medium.

Based on application spectrum of spray foam market, commercial construction sub-segment is anticipated to record a 7.3% CAGR over the analysis timeframe.

Regionally, Europe industry was worth USD 481.9 million in 2020 and is expected to gain significant traction during the review period. Whereas Latin America industry is estimated to grow at a CAGR of 5.9% during the assessment period. Meanwhile, Middle East & Africa market is reckoned to record a y-o-y growth rate of 5.8% over the forecast timeframe.

SWD Urethane, Genyk, Isothane Ltd., Synthesia Technology Group, Techno Foam Co. Ltd., Purios, Demilec, Inc., BASF SE, CertainTeed Corporation, and Carlisle Corporation are the leading players in spray foam market. These colossuses are constantly investing in R&D of innovative products & solutions to gain competitive edge and expand their customer base.