Elastomeric Foam Market 2019 | Emerging Trends, Highlights and Challenges Forecast 2023

Elastomeric Foam is a rubber-based insulating material with closed pores and uniform cell structure and possesses high vapor diffusion values. It is used in various applications such as air conditioners, refrigerators, chilled water pipelines, and tube equipment and fittings as it provides excellent insulation and condensation control in HVAC systems while reducing energy consumption. Elastomeric Foam is available in two types—natural rubber and synthetic rubber; the latter includes nitrile butadiene rubber, ethylene propylene diene monomer (EPDM), and chloroprene. Nitrile butadiene rubber elastomeric foam is used widely due to its superior properties such as high moisture resistance, thermal efficiency, chemical resistance, elasticity, and flexibility.

The growth of the Elastomeric Foam Market is driven by the growing heating, ventilation, and air conditioning (HVAC) industry with the rising installation of HVAC systems in residential and commercial buildings such as healthcare facilities, shopping complexes, warehouses, and supermarkets. The increasing use of elastomeric foam in chillers, refrigerators, duct systems, and plastic pipes such as refrigeration piping and hot- and cold-water pipes is likely to drive the growth of the elastomeric foam market. Additionally, rising awareness about indoor air quality is likely to increase the demand for Elastomeric Foam with antimicrobial additives in air conditioners and HVAC systems.

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The consumption of Elastomeric Foam is increasing in automobile parts such as gaskets, sealing, and under hood applications as it provides good thermal insulation and corrosion control. The growing automotive industry with the rising production of lightweight, electric, and hybrid vehicles is likely to drive the demand for Elastomeric Foam. Also, due to its good electrical insulation properties, the use of elastomeric foam is increasing in the electrical and electronics industry, which is likely to propel market growth during the forecast period.

Some of the key growth strategies adopted by market players include new product developments, expansions, and acquisitions. For instance, in May 2018, Armacell International SA, acquired Guangdong De Xu Insulation Materials Co. Ltd, a manufacturer of elastomeric foam, to expand its product portfolio and strengthen its presence in Asia-Pacific.

Segmentation:

The Global Elastomeric Foam Market has been segmented by Type, Application and Region.

On the basis of Type, the market has been segmented into natural rubber and synthetic rubber, which includes nitrile butadiene rubber, ethylene propylene diene monomer (EPDM), chloroprene, and others.

Based on End-Use Industry, the market has been divided into HVAC, automotive, electrical and electronics, and others.

By Region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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Key Players:

Some of the key players in the Global Elastomeric Foam are Armacell International SA (Luxembourg), Hira Industries LLC (UAE), Zotefoams PLC (UK), L’isolante K-Flex SpA (Italy), Huamei (China), Kaimann GmbH (Germany), Jinan Retek Industries Inc. (China), NMC SA (Belgium), Grando (Belgium), Sekisui Plastics Co., Ltd (Japan), and Rogers Foam Corporation (US).

Intended Audience

Elastomeric Foam Manufacturers

Traders and Distributors of Elastomeric Foam

Research and Development Institutes

Potential Investors

Raw Material Suppliers

Nationalized Laboratories

Regional Analysis:

Asia-Pacific accounted for the largest share of the Global Elastomeric Foam Market in 2017 as a result of industrialization in developing economies such as India, China, and Thailand. Increasing residential and commercial construction as a result of urbanization has led to a rising demand for duct and HVAC systems, which is likely to fuel the demand for Elastomeric Foam.

North America is another prominent market for Elastomeric Foam owing to the increasing construction spending in the region. Additionally, the expanding automotive industry with the increase in production of lightweight, electric, and hybrid vehicles is likely to drive market growth during the review period.

The European market is expected to grow on account of the reviving automotive industry with the surge in demand for high energy-efficient and lightweight vehicles to reduce carbon emissions.

The Latin American market is expected to grow at a significant rate during the review period with the expanding automotive industry in Brazil and Mexico. The market in the Middle East & Africa is likely to exhibit considerable growth in the coming years with increasing investments in the construction sector and an expanding HVAC market in the region.

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