After numerous years of acting as a driving force for the insulation industry – providing high R-value, energy-efficient insulation – spray foam insulation continues to be projected by some experts to experience a substantial market surge by 2017.
Among the variations of foam insulation, spray polyurethane foam (SPF) is one of the key segments that is anticipated to prompt the foreshadowed growth expected to be seen in the coming years, according to a Cleveland-based research group, Freedonia.
Why the dramatic upswing? A combination of the implementation of new building codes and energy mandates, as well as increased spending in the building and construction industry, will drive the demand for insulation to a 7.6 percent annual growth, creating a $10.3 billion market in 2017, the research group predicted just a few years ago.
Upgrading existing homes and buildings with SPF insulation is an increasingly popular option in order to comply with the 2012 International Energy Conservation Code (IECC) and LEEDv4, which are LEED updates incorporated in November 2011.
The success of SPF insulation, along with other foam insulation types, is estimated to produce a seven percent annual growth rate, which will place the foam insulation market in the area of $4.6 billion by 2017. At that point, foam insulation will – for the very first time – equal the market share of fiberglass, which has been the insulation market leader for what seems like forever.
As you already may be aware, there is a wide range of opportunities for building owners to upgrade their buildings and structures. However, these kinds of changes are often unseen, making them difficult for some owners to get behind.
Yet, such alterations can have a major impact and these upgrades can help make the value of a building even greater by providing a significant return on investment. These qualities are much of what has helped contribute to the overall popularity of spray foam. And as more and more people become aware of spray foam benefits, the amount of investment in these building improvement options will continue to rise in the U.S.
Serving commercial roofing contractors, spray foam insulation contractors and the materials suppliers that serve those markets, Intech Equipment and Supply has built a network of industry relationships to provide the best in support and manufacturer materials. For spray foam equipment, spray foam insulation, single ply roofing and commercial roof coatings applications, Intech Equipment and Supply is your one-stop shop.