MRFR Year End Sale
Elastomeric Foam Market Research Report – Forecast to 2030

Elastomeric Foam Market: 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 | December 2022 | Region: Global | 100 Pages         

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.

Segmentation

By Type Natural Rubber Synthetic Rubber
By End-Use Industry HVAC Automotive Electrical and Electronics Others

Key Players

  • 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)
  • Rogers Foam Corporation (US)

Drivers

  • The growing heating
  • Ventilation
  • Air conditioning (HVAC) industry with the rising installation of HVAC systems in residential
  • Commercial buildings
Speak to Analyst Request a Free Sample

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 (%):Elastomeric Foam Market Share


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


Some of the key players 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: Significant value
  CAGR   2022–2030: Substantial 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


Speak to Analyst Ask for Customization

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.