With the kick-off of the 2024 SPFA Spray Foam Convention, the Institute for the Building Envelope (IBE) released the first-ever comprehensive study on market dynamics of the spray foam industry. The study, commissioned by IBE and conducted by Zonda, estimates the spray foam industry as a $2.78 billion dynamic and growing sector of the U.S. economy, employing nearly 55,000 people across all 50 states.

The benefits of spray foam extend far beyond the thousands directly employed in the industry. When it comes to stronger, energy efficient and cost-effective building materials, spray foam insulation is the all-in-one premium solution for the building envelope. It maximizes conditioned air inside a home, reducing greenhouse gas (GHG) emissions. Spray foam also increases building resiliency, helping structures better withstand natural disasters. Spray foam insulation plays an integral role in fortifying a home’s building envelope, increasing energy efficiency, safety, and comfort.

Below are key findings from the study:

• Spray foam employs nearly 55,000 people across the United States;
• The majority of spray foam operators in the country are independent small businesses;
• More than half of spray foam companies created 2 to 5 new jobs over the past 12 months;
• Spray foam companies report sustained 5 to 10 percent growth from year to year, with half of spray foam operators’ revenues ranging between $1million and $5 million;
• The typical spray foam business completes between 50 and 299 installations per year;
• New residential homes (both single and multifamily) are the most common installations for spray foam companies, accounting for over $1.6 billion of revenue;
• Texas employs the most people in the spray foam industry with over 10,000 jobs, followed by Florida and California, with over 5,000 jobs each. Texas, Florida, and California are also the top three revenue-generating states for spray foam installations.

To view the Press Release, click here.