Spray Polyurethane Foam Market: Proliferating Need for Energy-efficient Solutions for Building Renovation to Benefit Market, finds TMR
The competition in the global spray polyurethane foam market is intense as it is dominated by a few leading players, states Transparency Market Research (TMR) in a new report. Leading companies are focusing on establishing strategic alliances with distributors and contractors in order to capitalize on the opportunities arising from developing countries in Asia Pacific and Rest of the World. Moreover, companies are striving to gain a competitive edge over each other by developing advanced and customized products for specific applications. The top three companies, BASF Corporation, Demilec, and Icynene, held a share of approximately 53.7% in 2012 in the global spray polyurethane foam market. The global spray polyurethane foam market is projected to expand at a CAGR of 7.0% from 2013 to 2019. In terms of revenue, the market worth US$1,383.0 mn in 2015 and is likely to rise to a valuation of US$1,823.0 mn by the end of 2019. Based on application, the residential...