MALVERN, Pa.--(BUSINESS WIRE)--The spray polyurethane foam (SPF) industry is projected to grow at 13% per year from about $800 million in 2013 to $1.1 billion in 2015. Growth will surpass overall construction industry expansion based on increased penetration of SPF in key residential and commercial applications. However, the industry does face some challenges, including concerns over improper installations. The good news is the industry has moved quickly to help mitigate installation issues, including contractor education certification programs sponsored by the Spray Polyurethane Foam Association (SPFA).
Growth will be highest in residential applications with an average of 14% annually to 2015, while commercial will grow at 9% over the same timeframe. Within residential construction, walls and foundations are projected to be the fastest growing application. In commercial construction, roofing will remain the largest application but exterior walls will be the fastest growing application at 23% annually.
Ken Jacobson, Partner with Principia, said, “The future of the SPF business looks bright but not assured. It will continue to be a premium insulation for higher end residential construction and an excellent insulation / weather resistant barrier in such applications as commercial roofing and exterior walls. To continue its successful trajectory, the SPF industry will need to support a number of different initiatives including expanded contractor education and certification, property owner and specifier awareness, and R&D for new products with improved yields.”
Spray Polyurethane Foam 2013 is the latest report on the topic from Principia. The report contains key market data, trends and strategic insights into all aspects of the business from supply through distribution to property owners. Principia conducted discussions with over 150 industry participants including contractors, distributors, consultants and suppliers to compile its comprehensive assessment of the current state and future prospects for the industry. Spray Polyurethane Foam 2013 provides insights on:
- Up-to-date assessment of SPF demand
- Voice of Customer feedback on major drivers and trends
- Market share review for leading producers
- Strategic insights into growth and investment opportunities
Principia’s interactive Market Model and Forecasting Tool is included with the report. This tool allows subscribers to model hypothetical market performance based on their own assumptions of metrics such as housing starts, commercial construction growth, remodeling rate and material market share.
Principia serves the building materials industry through products and services aimed at profitable growth, helping clients grow market share and revenues and improve margins. Services include strategy consulting, market research, and industry reports and conferences. Principia is headquartered in suburban Philadelphia, with offices and affiliates worldwide. See PrincipiaReports.com, and PrincipiaConsulting.com.