Two market research studies released last week found the spray foam industry is a “booming” market, thanks in no small part to its innovative design that both insulates and air seals homes. These findings confirm spray foam’s rising role in the marketplace, which was found to be a $2.78 billion dynamic sector of the U.S. economy, employing nearly 55,000 people across all 50 states in a study by Zonda commissioned by the IBE last year.
HTF Market Intelligence just released its Global Spray Foam Insulation Market Study, which found the spray foam industry to be both “booming” and “expanding its reach,” predicting that the market would grow at a compound annual growth rate (CAGR) of around 8 percent from now through 2032. According to the study, energy efficiency regulations and rising energy costs are just some of the market drivers that are leading to the demand for this innovative building material.
A separate study conducted Future Markets Insights (FMI) looked specifically at air barriers, predicting modest growth as the industry calls for a “much-anticipated shift from the traditionally preferred gypsum board to sustainably superior spray foam.”
From an environmental perspective, the study also noted that “several manufacturers of spray foam insulation have developed environmentally sensitive, innovative solutions that reduce carbon footprint.”
Spray foam’s unique ability to insulate and air seal a home provides superior performance against traditional types of insulation. It increases energy efficiency, reduces energy usage, and makes homes more comfortable.
The numbers are in – spray foam is the all-in-one building material to meet your insulation needs.