Elastomeric Foam Market: Introduction
Elastomeric foam has been used for insulation purposes since the 1950s. It is the largest type of insulating foam used in the market. It is primarily used in Heating, Ventilation & Air Conditioning (HVAC), plumbing, and refrigeration systems in order to provide a barrier to the entry of moisture and vapor into the systems. Elastomeric foams are used as a replacement for natural insulating materials, such as cork. Their manufacturing does not involve chlorofluorocarbons (CFCs), hydro chlorofluorocarbons (HCFCs), or hydro fluorocarbons (HFCs). This makes them suitable for use even in tough environments. They also contain a very low amount of volatile organic compounds (VOC) and are, therefore, environmentally safe. Advances in manufacturing process have made it possible to fabricate elastomeric foams that are suitable for demanding applications that require superior properties.
Elastomeric Foam Market: Overview
On the basis of type, the global elastomeric foam market can be segmented into natural rubber/ latex and synthetic rubber. The synthetic rubber segment can be sub-segmented into Nitrile-Butadiene Rubber (NBR), Ethylene-Propylene Diamine Monomer (EPDM), and Chloroprene Rubber (CR). The synthetic rubber segment is estimated to be grow rapidly led by the rise in demand for NBR. NBR is an economical alternative to other synthetic rubbers and has better properties compared to them. In terms of application, the global elastomeric foam market can be divided into Heating, Ventilation & Air Conditioning (HVAC) systems, automotive, electrical & electronics, and others. HVAC systems is estimated to grow at a significant pace during the forecast period.
Elastomeric Foam Market: Market Trends & Developments
The elastomeric foam market is growing at a healthy pace on account of better insulation properties possessed by elastomeric foams and also due to the general growth in the application segments of this product. The use of elastomeric foam is on a rise in HVAC systems. This can be ascribed to the growth in population and strict regulations making it necessary for HVAC systems to be energy efficient. Government policies across the globe are becoming quiet stringent regarding energy efficiency. This is, therefore, expected to prove as an opportunity for the growth of elastomeric foam market during the forecast period. Relatively high cost of elastomeric foams as compared to other insulation methods and lack of awareness regarding the advantages they offer over conventional materials are restraining the growth of the elastomeric foam market.
Elastomeric Foam Market: Regional Outlook
The global elastomeric foam market, on the basis of region, can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the leading market for elastomeric foam in the world and is estimated to grow at a rapid pace during the forecast period. North America and Europe are the second and third dominant elastomeric foam markets, respectively, and are anticipated to grow at a slow pace during the forecast period. Latin America and Middle East & Africa are anticipated to be lucrative elastomeric foam markets during the forecast period and are likely to witness rapid increase in demand for elastomeric foam market.
Elastomeric Foam Market: Key Players
Key players operating in the elastomeric foam market are Armacell (Germany), Hira Industries (the UAE), Zotefoams (the U.K.), L'ISOLANTE K-FLEX (Italy), Kaimann (Germany), Jinan Retek Industries (China), Aeroflex USA (the U.S.), NMC SA (Belgium), and Anavid (Israel).
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.