Global Spray Foam Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Spray Foam Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Spray Foam Equipment is integral to the entire process of applied spray foam: from transferring the components out of the material drums, to properly heating and pressurizing the materials, to pumping them through hoses, to finally mixing and spraying the components. Spray Foam machines have two metering, or proportioning, pumps (one for each component) that heat and proportion the isocyanate and polyol in a 1:1 ratio. The two materials, transported from the proportioner through heated hoses, are kept separated through the entire system until they come together in the spray gun, where they are mixed and spray-applied to the target substrate.

Market Overview:

The latest research study on the global Spray Foam Equipment market finds that the global Spray Foam Equipment market reached a value of USD 660.07 million in 2022. It’s expected that the market will achieve USD 831.63 million by 2028, exhibiting a CAGR of 3.93% during the forecast period.

Spray Foam Equipment Market Drivers

With the rapid development of cities between countries, there are more requirements for building materials. According to the World Bank, about 55% of the world's population (4.2 billion people) live in cities. This trend is expected to continue. By 2050, seven out of ten people in the world will live in cities because the urban population will be more than twice the current population. Spray foam is widely used to insulate buildings and seal cracks and gaps, making the building more energy-efficient and comfortable. Spray foam resist heat transfer extremely well, and it offers a highly effective solution in reducing unwanted air infiltration through cracks, seams, and joints. With the acceleration of urbanization, the number of buildings is also increasing, and the demand for spray foam in buildings is also increasing. Therefore, it will promote the growth of Spray Foam Equipment industry demand.

With the rising confidence of residential builders, the number of residential buildings under construction in the United States has surged. According to the monthly housing construction report of the U.S. Census Bureau, after seasonal adjustment in September 2020, the number of housing starts was 1.4 million. This is an increase of 11% over the same period in 2019. This figure is also about 2% higher than the August level. In September, it also obtained 1.5 million building permits for new housing units with seasonal changes. Due to the low mortgage interest rate, despite the rising prices and intensified competition, many home buyers are still pushing ahead with their plans. It is expected that the new housing activities in the United States will grow strongly. Spray foam insulation is ideal for both commercial and residential applications of air sealing attics and rim joists, and insulating roofs and walls. In view of the fact that the improvement of housing often occurs before or after buying a house, it will further promote the application of Spray Foam and promote the development of Spray Foam Equipment industry.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Graco Inc. is one of the major players operating in the Spray Foam Equipment market, holding a share of 27.97% in 2021.

Founded in 1926, Graco is a world leader in fluid handling systems and components. Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid materials.

Graco maintains an aggressive strategy to design and develop new products and systems and distributes through a worldwide network of distributors and other channels. Graco is focused on expanding into new markets through product development and acquisitions.

Founded in 2007 on the principle of “designed with the customer in mind”, PMC target engineers a complete product line for urethane spray systems including but not limited to proportioning units, a uniquely designed heated hose system, transfer pumps, spray guns and the auxiliary equipment required by a contractor to apply residential foam insulation, roofing pour foam, Polyurea and Polyurea hybrid coatings successfully and economically.

Segmentation Overview:

Among different product types, Closed Cell segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Residential segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Spray Foam Equipment market covered in Chapter 3:

Vag Polytech Private Limited
Graco Inc.
Titan tool
Hi-Tech Spray Equipment, S.A.
Spray EZ Equipment & Coatings Inc.
Carlisle
PMC

In Chapter 4 and Chapter 14.2, on the basis of types, the Spray Foam Equipment market from 2018 to 2029 is primarily split into:

Closed Cell
Open Cell

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Spray Foam Equipment market from 2018 to 2029 covers:

Residential
Commercial
Industrial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)