The Fact.MR study features insightful information about critical dynamics of the one component foam market to help readers to fathom future prospects and current growth parameters of the one component foam market. This study is a seamless presentation of unique insights on how the one component foam market will expand across the globe during 2018-2027. The report includes the exclusive predictions about market growth in terms of market size (US$ million) and market volume (tons) during the forecast period.
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Growth Remains Upheld by Resurgent Construction Activities in Line with Infrastructure Development Projects
One component foam is commonly used as an insulation material in the construction industry, especially as a construction sealant. Extraordinary characteristics of one component foam as adhesives and sealants are leading to creating more sales opportunities for market players in the global construction industry.
The revival of the construction industry in developed regions such as North America and Europe, and recent infrastructural developments in emerging countries has spurred the rise of the one component foam market. One component foam manufacturers are focusing on improving characteristics and features to suit specific needs of end-users from the construction industry to bolster sales with exponentially growing construction industry. Additionally, the recent trend of sandwich paneling has provided a boost to the use of one component foam as a construction sealant. Thereby, innovations in the construction industry are likely to diversify the applications of one component foam, which will influence growth prospects of the one component foam market in the upcoming years.
Stringent Regulations Encouraging Manufacturers to Reformulate Chemical Compositions of One Component Foam
Foreseeing the environmental impacts of one component foam, especially spray foam, various governmental organizations as well as nonprofit environmental organizations across the globe have proposed to regulate the manufacturing and marketing of one component foam. Renowned governing bodies, such as the U.S. Environmental Protection Agency (EPA) and Europe’s REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals), have established a regulatory framework to mitigate the negative impacts of potential chemical exposures through one component spray foams on the environment, indoor air quality, and human health. As end-users are becoming aware of the importance of indoor air quality and environmental impacts of harmful chemicals in one component foams, especially spray foams, manufacturers in the one component foam market are shifting their focus on the chemical compositions, and potential health risks of one component foam to comply with stringent regulations and sync with the needs of environmentally conscious end-users.
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Energy-efficiency and Eco-friendly – Key Attributes Sought-After by Manufacturers as well as End-users
Customers and industrial end-users are continuously seeking energy efficient equivalent for almost every product they are about to purchase; and one component foams is no exception. One component foams find maximum applications in the construction industry and end-users are focusing on minimizing their energy consumption to reduce their production cost by opting for energy-efficient insulting materials or sealants such as one component foam. Furthermore, taking into consideration that construction materials have a significant impact on the environment, one component foam market players are aiming at contributing to a safer environment by offering environmentally friendly one component foam.
One Component Foam Market Players Tapping Into Latent Opportunities in Residential Sector
The construction industry has envisaged rapid growth over the course of past couple of years, and the number of residential construction projects has rose significantly across the world. Steadily growing residential construction sector in developed countries is expected to create numerous sales opportunities for players in the one component foam market.
According to the new residential construction statistics for May 2018, jointly announced by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, the privately?owned housing starts authorized in May 2018 were around 20.3% higher than the May 2017 rate. In Europe, the building construction and civil engineering increased by 1.5% and 2.7%, respectively, in October 2018 over October 2017.
Furthermore, in developing countries, such as China and India, increasing discretionary income and urbanization are providing a fillip to the residential construction activities. Thereby, leading manufacturers in the one component foam market are eyeing lucrative opportunities in the residential construction sectors to witness profitable growth in the upcoming years.
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