Elastomeric Foam Market Research Report Information by Type (Natural Rubber and Synthetic Rubber), by End-Use Industry (HVAC, Automotive, Electrical and Electronics and others) and Region (Asia-Pacific, North America, Europe and Others) - Forecast till 2030
ID: MRFR/CnM/4913-HCR | 100 Pages | Author: Chitranshi Jaiswal | May 2023
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Elastomeric Foam Market
The elastomeric foam market was valued at US$3.398 billion in 2020 and is expected to grow at a CAGR of 6.19% over the forecast period to reach a total market size of US$5.009 billion by 2030.
$5.009 Billion
6.19%
Asia-Pacific
2021-2030
Elastomeric Foam Market Overview
The elastomeric foam market was valued at US$3.398 billion in 2020 and is expected to grow at a CAGR of 6.19% over the forecast period to reach a total market size of US$5.009 billion by 2030. Elastomeric foam is a rubber-based insulating material with a homogenous cell structure and strong vapor diffusion properties. It's utilized in air conditioners, refrigerators, chilled water pipelines, and tube equipment and fittings because it provides superior insulation and condensation management in HVAC systems while lowering energy consumption. Natural rubber and synthetic rubber are the two varieties of elastomeric foam; the latter includes nitrile butadiene rubber, ethylene propylene diene monomer (EPDM), and chloroprene. Because of its exceptional features, such as high moisture resistance, thermal efficiency, chemical resistance, elasticity, and flexibility, nitrile butadiene rubber elastomeric foam is widely employed. Growth of the 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, is driving the expansion of the Elastomeric Foam Market. The growing use of elastomeric foam in chillers, refrigerators, duct systems, and plastic pipes including refrigeration piping and hot-and cold-water pipes is expected to propel the elastomeric foam market forward. In addition, as people become more concerned about indoor air quality, demand for elastomeric foam with antimicrobial additives in air conditioners and HVAC systems is expected to rise, thus increasing the growth of the Elastomeric Foam Market.
Elastomeric Foam Market Share, by End-Use Industry, 2017 (%):
Source: MRFR Analysis
Regional Analysis
Asia-Pacific accounted for the largest share of the 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 for Elastomeric Foam Market 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 Elastomeric Foam 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 Elastomeric Foam 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.
Segmentation
The Elastomeric Foam Market has been segmented by Type, Application, and Region.
On the basis of Type, the Elastomeric Foam 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 Elastomeric Foam Market has been divided into HVAC, automotive, electrical and electronics, and others.
By Region, the Elastomeric Foam Market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
List of the key companies in the Elastomeric Foam Market 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).
Recent Development
In Dec 2021, BMW Ventures has made a seed investment in Rapid Liquid Print (RLP), an elastomer 3D printing firm. RLP combines the advantages of 3D printing elastomer materials with a new gel-printing process, according to BMW Group's corporate venture capital investment arm. After investigating the field of additive manufacturing, the Massachusetts Institute of Technology's'self-assembly lab' created the corporation. Armacell purchased TB Concept Inc. (Canada), a manufacturer of patented pipe support solutions, in April 2018. Armacell's presence in Canada is projected to grow as a result of this acquisition, as will its position in the global elastomeric foam market.
Intended Audience
- Elastomeric foam manufacturers
- Traders and distributors of elastomeric foam
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: USD 5.009 billion |
| CAGR | 2022–2030: 6.19% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End-Use Industry and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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). |
| Key Market Opportunities | The growing automotive industry with the rising production of lightweight, electric, and hybrid vehicles is likely to drive the demand |
| Key Market Drivers | The growing heating, ventilation, and air conditioning (HVAC) industry with the rising installation of HVAC systems in residential and commercial buildings |
Frequently Asked Questions (FAQ) :
Growing demand for heating solutions, ventilation, and air conditioning (HVAC) industry would drive the market.
The Asia Pacific region would inspire the maximum elastomeric foam market growth.
The major end user industries are electrical & electronics, automotive, HVAC, and others.
Major companies in the market are Hira Industries LLC (UAE), Zotefoams PLC (UK), Armacell International SA (Luxembourg), Huamei (China), L'isolante K-Flex SpA (Italy), inan Retek Industries Inc. (China), Sekisui Plastics Co., Ltd (Japan), Kaimann GmbH (Germany), Grando (Belgium), JNMC SA (Belgium), and Rogers Foam Corporation (US).
The booming automotive industry would take the market forward.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
- ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
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- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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