Spray Polyrethane Foam Market
in North America future owing to the government regulations imposed on construction companies to build energy efficient infrastructure in old commercial and residential structures .
Growth of Construction Industry to Bode Well for Spray Polyurethane Foam Market According to a TMR analyst , “ Approximately 90 % of the global spray polyurethane foam is used by the buildings and construction industry for various construction activities . The growth of the global spray polyurethane foam market is highly dependent on the demand from the construction industry . Spray polyurethane foams are environment friendly which makes them suitable for application in green constructions as well .”
Moreover , rising concerns regarding energy efficient structures coupled with government regulations against the use of chemical foam products in construction activities are further anticipated to drive the consumption of spray polyurethane foam globally . The shortage of energy has impelled people across the world to opt for alternative sources of energy or to renovate the existing infrastructure of their buildings towards being more energy efficient . Spray polyurethane foam helps cover cracks and holes in ceilings and walls and insulate structures thus preventing energy loss . To meet the government energy efficiency standards in buildings , construction companies are increasing the adoption if spray polyurethane foams .
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Volatile Prices of Raw Materials to Negatively Impact Production of Spray Polyurethane Foam
The materials used in the production of spray polyurethane foam are derivatives of crude oil . The uncertain supply of crude oil has been affecting the production of spray polyurethane foams over the last few years . Moreover , due the oligopolistic nature of the crude oil market , the price of crude oil is always at a fluctuating state . The prices of derivatives of crude oil such as TDI and MDI which are used as additives in spray polyurethane foams are highly volatile in nature . As a result of this , the production of spray polyurethane foam is expected to be extensively affected over the next couple of years .
However , manufacturers of spray polyurethane foam can expect to gain lucrative growth opportunities arising from the development of bio-based spray polyurethane foams . To meet the prevailing environmental standards , companies such as Rhino Linings are focusing on the development of soybased spray polyurethane foam as a substitute of the traditional ones .
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