Spray Foam Equipment Industry Trends, Competitive Landscape and Forecast by 2027
Global Spray Foam Equipment Market – Introduction
- A spray foam equipment is a sophisticated machine used for insulation, roofing and protective coatings in industrial, commercial and residential areas. These equipment use two key materials: isocyanate and polyol resin. These two materials are mixed with each other so as to perform the process of spraying or coating for various applications such as packaging, wall insulation, roof insulation, and concrete rehabilitation.
- Spray foam equipment improve not only the productivity and quality of the product but also the area where spray foam insulation is carried out.
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Global Spray Foam Equipment Market – Dynamics
Key Drivers of Global Spray Foam Equipment Market
- Growing industrialization in developing as well as developed countries is expected to drive the global spray foam equipment market during the forecast period
- Continuous growth in the automobile production is also one of the important factors boosting the global spray foam equipment market
- Rise in the demand for automobiles in automotive industry due to strict safety standards of working environments in the automotive industry, is expected to boost the global spray foam equipment market during the forecast period
- The development of fourth-generation of blowing agent and increase in the adoption of green buildings, which are focused on sustainable building practices and energy conservation, are projected to drive the global spray foam equipment market during the forecast period. The market is expected to expand at a significant rate also due to stringent government regulations on the reduction of greenhouse gas (GHG) emissions to increase the energy efficiency of buildings and homes.
North America to Hold a Major Share of Global Spray Foam Equipment Market
- North America is expected to hold a prominent share of the global spray foam equipment market between 2019 and 2027, due to increasing adoption of automobiles across the region. Also, growth in residential construction and stringent government regulations on energy efficiency in the region are driving the market in North America.
- Asia Pacific is expected to hold a considerable share of the global spray foam equipment market during the forecast period, due to growing urbanization and increasing population that have led to increase in commercial and industrial activities of packaging and buildings coating in the region.
- Furthermore, rapid industrialization and growth of the economy in India and China have resulted in rise in the demand for vehicles. This, in turn, is expected to drive the demand for spray foam equipment in the next few years.
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Global Spray Foam Equipment Market – Competition Landscape
Key Players Operating in Global Market
The global spray foam equipment market is highly concentrated, with the top manufacturers accounting for approximately 25%–30% of the market share. A few of the key players operating in the global spray foam equipment market are:
- Graco Inc.
- Intech Equipment & Supply
- Spray Foam Systems
- Vag Polytech Private Limited
- S.P.E.C. Technologies LLC
- Demilec Inc.
- Specialty Products Inc.