Thanks in large part to the strong increase in demand for spray foam products, the polyurethane market is expected to see a major explosion over the next few years. This will then start a “trickle down” effect in which continued growth will be seen in industries that support the development and application of these substances. Polyurethane materials have become extremely popular recently, due to a great extent to spray foam’s impressive performance as an insulating or roofing choice.
A recent study by Grand View Research predicted that the North American polyurethane market will reach nearly $14.5 billion by the year 2020. A major driver of this trend toward the use of spray foam is the growing concern over conserving resources and embracing energy-efficient building strategies. Rising energy costs are of course also a big consideration.
Not surprisingly, the United States accounted for the vast majority of this demand. However, growing demand in other areas is also reaching a noticeable rate. Increased construction spending in Mexico played a role in contributing to this trend of polyurethane usage in this general region.
While a large volume of spray foam materials are being used for commercial and residential construction purposes (insulation and roofing), there is also heavy demand for these materials from the automotive industry.
Industrial, automotive and construction usage may account for the bulk of this consumption, but other sectors are also generating an increased need for these materials. For example, the electronics and appliances industries are requiring an increasing volume of polyurethane materials, which are used for packaging purposes and encapsulation processes, among other things. These materials are being used in an increasingly diverse range of industries and environments, though, which even includes furniture and footwear.
At the same time, a focus on researching and developing innovative techniques for producing and improving polyurethane products—particularly those with a bio-based composition—will serve as a catalyst for this growth.
This major rise in the use of spray foam and other polyurethane materials means there is a greater need for contractors who perform application jobs with these materials. That in turn creates a demand for spray foam equipment and related machinery and supplies. Fortunately, we are prepared to help serve this need. Intech Equipment & Supply offers a wide assortment of spray foam equipment and related items that contractors in this industry may need.