Elastomeric Foam Insulation Market: Prevents the Transmission of Heat
- Elastomeric foam insulation is a flexible, closed-cell foam based on nitrile or ethylene propylene diene monomer rubber.
- Elastomeric foams have high resistance to the passage of water vapor; therefore, they do not generally require additional water-vapor barriers. High vapor resistance, and surface emissivity of rubber, allows elastomeric foams to prevent surface condensation formation with comparatively small thicknesses. Therefore, elastomeric foams are widely used on refrigeration and air-conditioning pipework.
- These foams are used on heating and hot-water systems. The three main components used to manufacture elastomeric foam insulation include synthetic rubber blend, typically nitrile butadiene rubber or ethylene-propylene-diene monomer, polyvinyl chloride, and a chemical foaming agent.
Are you a start-up willing to make it big in the business? Grab an exclusive Report Brochure here
Key Drivers of Elastomeric Foam Insulation Market
- Global elastomeric foam insulation market is driven by development in superior thermal performance insulation for high temperature applications and ultraviolet resistant foam insulation to protect against weather and mechanical abuse.
- Elastomeric foam insulation products are lightweight and thus, reduces the overall weight of the structure. Moreover, increasing industrialization, rising miniaturization, and improving technologies are boosting the demand for insulation materials, thus creating opportunities for the elastomeric foam insulation market.
- New high-performance materials have been developed in the past few years. These have proved to be useful in major application areas of the industrial and automotive sectors; however, economical pricing and superior properties have allowed elastomeric foam insulation materials to create their own niche.
- The automotive sector and the construction industry are major contributors to the global elastomeric foam insulation market owing to the high demand from developing countries and the increase in foreign investment by companies in these geographies.
Building & Construction Segment to Offer Attractive Opportunities
- Elastomeric foam insulation products are widely used in the building & construction industry, due to their lightweight nature, which helps reduce the overall weight of the structure.
- Elastomeric foam insulation prevents the transmission of heat from exterior walls of buildings, which captures the heat energy from the sun
- Elastomeric foam insulation is always efficient in reducing energy consumption as they possess properties such as low thermal conductivity, water vapor barrier, and keeping product environmentally friendly, this drives the demand for elastomeric foam insulation market in building & construction segment.
Availability to low cost substitutes to Hamper Market:
- Several low cost alternatives are available for elastomeric foam insulation products such as ceramics, mineral wool, and glass wool among others, which has led to increased competition for elastomeric foam insulation, especially in the insulation market.
- Further, the relatively lesser priced alternatives have led to their increased usage in the lower per capita income countries, further restricting the usage of elastomeric foam insulation.
- However, the increasing applications of elastomeric foam insulation in the construction and healthcare industries have increased the demand. Premium prices restrict the market of elastomeric foam insulation when compared to ceramics in the smaller economies, although these markets are expected to show a high growth rate during the forecast period with rapidly increasing adoption and market penetration.
Asia Pacific expected to hold Major Share in the Global Elastomeric Foam Insulation Market
- Geographically, the demand for elastomeric foam insulation can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- In terms of volume and value, Asia Pacific dominated the global market in 2018. The region is expected to continue to dominate the global market during the forecast period.
- Rise in population, increase in disposable income of consumers, and implementation of less stringent regulations have enabled Asia Pacific to emerge as one of the fastest-growing regions for consumer electronics, automotive, and construction. The elastomeric foam insulation market in emerging economies such as India, Singapore, and ASEAN countries in Asia Pacific has been expanding over the past few years.
- Rising FDI investment in automotive and construction industry in developing economies of Asia Pacific are some of the other factors likely to fuel the market in the region during the forecast period.
- The elastomeric foam insulation market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period, followed by the North America and Europe. This expansion can be attributed to increasing investments in construction and automotive industries in the region.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Elastomeric Foam Insulation Market here
Key Players Operating in the Elastomeric Foam Insulation Market:
Companies operating in the elastomeric foam insulation market are investing to expand their product portfolios and improve their distribution networks. They adopt strategies such as mergers & acquisitions, new product developments, joint ventures, and expansions to cater to the increasing demand for elastomeric foam insulation from different regions. For instance, In August 2018, Armacell acquired Guarto SRL, an Italian manufacturer of acoustic insulation solutions. This helps Armacell to expand advanced insulation and engineered foams product portfolio and cater to the demand for flexible elastomeric foam in South Europe. In the same year, Armacell launched its new product, AP Armaflex, specially designed for grooved fittings. This pre-fabricated product offers exceptional time and saves labor. Few of the key players operating in the elastomeric foam insulation market include:
- Hira Industries
- Zotefoams PLC.
- L'isolante K-Flex S.P.A.
- Kaimann GmbH
- Huamei Energy-saving Technology Group Co. LTD
- Jinan Retek Industries Inc.
- Aeroflex USA, Inc.
- NMC SA
Global Elastomeric Foam Insulation Market: Research Scope
Global Elastomeric Foam Insulation Market, by Application
- Acoustic insulation
- Hybrid insulation
- Thermal insulation
Global Elastomeric Foam Insulation Market, by End-use Industry
- Building and construction
- Electrical & Electronics
- Health care
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.