Spray Foam Insulation Industry Projected Growth: 2016
The spray foam industry has a projected growth at 13% per year. This growth is expected to be highest in residential applications, particularly for walls and foundations. Commercial growth is expected to be at 9% with the fastest growth in roofing applications. Exterior walls will grow at a fast second to roofing. Bio-based polyurethane foams are expected to increase in popularity.
According to the NRCA (National Roofing Contractors Association), 2015, “Total construction starts in 2016 are forecast to advance 6 percent to $712 billion, with gains for residential building, up 16 percent, and nonresidential building, up 9 percent, while the non-building construction sector retreats 14 percent.” This forecast is based, in part, on trends in the construction market. In other words, follow the construction market and the spray foam market is predicted to parallel this growth.
The 2016 Dodge Data Construction Outlook projects the following growth patterns:
Spray Polyurethane Foam Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019, May 2014
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