PUBLISHER: The Business Research Company | PRODUCT CODE: 1822937
PUBLISHER: The Business Research Company | PRODUCT CODE: 1822937
Icynene spray foam insulation is a polyurethane foam that expands upon application to form an effective air seal within walls, ceilings, and floors. It is recognized for its excellent insulating properties, helping to lower energy costs by reducing air leakage. Icynene insulation also offers sound dampening and moisture resistance, and is valued for its energy efficiency, durability, and availability in eco-friendly options.
The main types of Icynene spray foam insulation are open-cell and closed-cell. Open-cell Icynene is a low-density spray foam with cells that are deliberately left partially open, creating a soft, spongy texture. These products are distributed through various channels including direct sales, distributors, and online platforms. They are used across a range of applications such as residential, commercial, and industrial sectors, serving diverse end users such as contractors, builders, homeowners, architects, and facility managers.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the construction sector, particularly in materials procurement and project costs. Higher duties on imported steel, aluminum, lumber, and machinery have driven up expenses for builders, contractors, and infrastructure developers, leading to increased project bids and delayed timelines. Construction equipment manufacturers face similar challenges, with tariffs on essential components and raw materials inflating production costs and squeezing margins. Additionally, retaliatory tariffs in international markets have curtailed exports of U.S.-made construction equipment and materials, further affecting profitability. The sector must now prioritize local sourcing, modular construction techniques, and supply chain diversification to control costs and ensure project viability amid ongoing trade uncertainties.
The icynene spray foam insulation market research report is one of a series of new reports from The Business Research Company that provides icynene spray foam insulation market statistics, including icynene spray foam insulation industry global market size, regional shares, competitors with a icynene spray foam insulation market share, detailed icynene spray foam insulation market segments, market trends and opportunities, and any further data you may need to thrive in the icynene spray foam insulation industry. This icynene spray foam insulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The Icynene spray foam insulation market size has grown strongly in recent years. It will grow from $1.41 billion in 2024 to $1.54 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth during the historic period can be attributed to rising electricity costs, increased construction of cold storage facilities, expansion of online platforms, growth in renovation and home improvement projects, and enhanced government incentives.
The Icynene spray foam insulation market size is expected to see strong growth in the next few years. It will grow to $2.13 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth expected in the forecast period is driven by growing government support for sustainable buildings, increasing renovation of older structures, rising demand for net-zero energy homes, expanding construction activity in emerging markets, and greater adoption of eco-friendly insulation materials. Key trends in the forecast period include technological advancements, improvements in low-emission spray foam formulas, development of bio-based insulation materials, enhanced integration with smart home energy systems, and progress in fire-resistant spray foam technologies.
The growing construction industry is projected to drive the expansion of the icynene spray foam insulation market in the coming years. This sector involves the design, development, and building of residential, commercial, and infrastructure projects. Its growth is being fueled by rapid urbanization, which increases the demand for housing, transportation systems, and commercial facilities. Icynene spray foam insulation supports this growth by offering high-performance thermal insulation and air sealing, which contribute to energy-efficient and sustainable building designs. For example, in November 2023, the Office for National Statistics, a UK-based government agency, reported that new construction activities increased by $19.96 million (£18,161 million) in 2022, with private sector projects rising by 16.8% and public sector projects by 13.1%. As a result, the expanding construction sector is contributing to the growth of the icynene spray foam insulation market.
Key players in the icynene spray foam insulation market are prioritizing the development of advanced insulation solutions such as open-cell spray polyurethane foam, aimed at improving energy efficiency, fire resistance, and ease of application in both residential and commercial buildings. This type of insulation is lightweight and porous, providing effective thermal insulation and sound dampening. For instance, in June 2024, Huntsman Building Solutions LLC, a U.S.-based spray foam insulation manufacturer, introduced Icynene Xpress 55, an open-cell spray polyurethane foam designed specifically for unventilated attics and crawl spaces. It enhances fire safety and energy efficiency without requiring an ignition barrier, meeting Appendix X of AC-377, which permits its use in utility servicing areas. The formulation is compliant with key safety and environmental regulations, and its fire-resistant properties allow it to self-extinguish once the flame source is removed, making it a dependable and sustainable option for modern construction needs.
In June 2023, Pacific Urethanes Pty Ltd, a chemical manufacturing company based in Australia, entered into a partnership with Huntsman Building Solutions LLC to advance polyurethane-based solutions for insulation and construction. This collaboration aims to leverage both companies' expertise in polyurethane formulation and spray foam technology to deliver high-performance insulation products suited for the construction and industrial sectors throughout the Asia-Pacific region. The goal is to improve energy efficiency, sustainability, and application performance. Huntsman Building Solutions LLC is a U.S.-based manufacturer specializing in spray polyurethane foam.
Major players in the icynene spray foam insulation market are BASF SE, The Dow Chemical Company, Covestro AG, Johns Manville Corporation, Soprema Group, The Woodbridge Group, CertainTeed Corporation, Henry Company LLC, NCFI Polyurethanes, Carlisle Polyurethane Systems, Foam Supplies Inc. (FSI), Gaco Western LLC, Specialty Products Inc., General Coatings Manufacturing Corp., Oak Ridge Foam & Coating Systems Inc., Isothane Ltd., Elastochem Specialty Chemicals Inc., Huntsman Building Solutions LLC, Volatile Free Inc., Versi-Foam Systems.
North America was the largest region in the Icynene spray foam insulation market in 2024. The regions covered in icynene spray foam insulation report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the icynene spray foam insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The icynene spray foam insulation market consists of sales of icynene proseal, Icynene MD-R-200, icynene ultra-Lite 2.0, and icynene HFO pro. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Icynene Spray Foam Insulation Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on icynene spray foam insulation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for icynene spray foam insulation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The icynene spray foam insulation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.