The introduction of spray foam has made a revolutionary change in the working of construction and packaging industry. Characteristics such as taking a form of insulation, air sticking on around corners, roofs, walls and on contoured surface has allowed spray foam to be used in variety of application including wall insulation, roofing, seal cracks and gaps containers. The growing use of spray foam in industrial and residential construction activity and packaging industry is expected to fuel the growth of global spray foam market over the forecast period.
Spray Foam Market- Market Dynamics:
One of the significant factors contributing towards the growth of spray foam market is the strong demand from packaging Industry. Moreover, Spray foam is widely used in construction industry for its variety of application including insulation, sealing etc. Owing to the revival of global economy, the industrial construction industry is anticipated to witness a surge in demand over the forecast period. Furthermore, it is anticipated that global spray foam market will grow along with the growth of construction industry in near future. Apart from this, developing as well as developed countries have seen a rising demand of green building from last couple of decades, which are expected to further fuel the global demand in spray foam market.
However, fluctuation in raw material prices are expected to be a major concern for spray foam manufacturer. Adding to this, raw material such as MDI (Methylene diphenyl diisocyanate) and TDI (Toluene diisocyanate) that are used in production of spray foam, cause severe health related problem including asthma and skin irritation. This may hamper the growth of global spray foam market over the forecast period.