Global Elastomeric Foam Market Overview:

Elastomeric Foam is an insulating material made from rubber which has closed pores and uniform cell structure and possesses high vapor diffusion values. An Elastomeric Foam has several applications, especially in air conditioners, chilled water pipelines, refrigerators, and tube equipment and fittings. Elastomeric Foam provides great insulation and condensation control in HVAC systems while enabling energy efficiency simultaneously.

The Global Elastomeric Foam Market is likely to register a sizeable CAGR through the forecast period. Various factors attributable to the ascension of the Global Elastomeric Foam Market include the growing heat, ventilation, and air conditioning (HVAC) industry and rising awareness towards indoor air quality. Further, a vast scope of applications of the same in various products is likely to drive the demand, owing to the mounting demand for HVAC systems, and growing temperatures due to climate change.

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Key Players:

The Global Elastomeric Foam Market is influenced dramatically by the activities and strategic actions of various players in the market. Some of these market giants are profiled in the latest report by MRFR including 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).

Industry Update:

May 2019: Icynene-Lapolla recently introduced Icynene X-Wall System, which is an all-in-one continuous insulation solution used for the exterior envelope which is designed to provide long term efficiency and enable weather resistance. The X-Wall liquid flashing uses an elastomeric, polyether liquid-applied flashing & detailing membrane.

Market Segmentation:

The Global Elastomeric Foam Market is analyzed for various segments based on Type, Application, and Region.

Based on Type, the Global Elastomeric is segmented into synthetic rubber and natural rubber. Among the two, the synthetic rubber segment is further sub-segmented into ethylene propylene diene monomer (EPDM), nitrile butadiene rubber, and chloroprene. Among these segments, the nitrile butadiene rubber segment dominated the global elastomeric foam market at the beginning of the forecast period and is expected to register a robust CAGR by 2023. This market growth can be accredited to the rising application of nitrile rubber in various products such as HVAC, refrigerators, gaskets, plastic pipes, and sealing due to its properties like high moisture resistance, low thermal conductivity, resistance to grease, and high elasticity. EPDM segment is expected to grow at the fastest rate owing to the increasing use of the same in solar installation and oil & gas applications because of its high resistance towards water and weather.

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Based on End-User Industry, the Elastomeric Foam Market is segmented into HVAC, automotive, and electrical & electronic. The HVAC segment is estimated to be at the forefront of the Global Elastomeric Foam Market, just like it did in the base year. Snowballing demand for HVAC systems, chillers, and duct systems in health facilities, shopping complexes, industrial applications, and supermarkets is the primary factor contributing to the augmentation of the segment over the assessment period. Further, noteworthy ascension witnessed by the automotive industry in terms of production is also likely to contribute heavily to the rising demand for Elastomeric Foam in gaskets and sealings.

Detailed Regional Analysis:

The Global Elastomeric Foam Market is segmented by region into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these regions, Asia Pacific garnered the largest share of the Global Elastomeric Foam Market in 2017. It is also expected to witness substantial growth owing to the rapid industrialization witnessed by the developing economies present in the region such as India, Thailand, and China. Further, increasing residential and commercial construction owing to fast-paced emergence of urbanization has prompted higher demand for HVAC systems and duct, in turn, driving the Regional Elastomeric Foam Market.

North America is anticipated to exhibit remarkable growth for Elastomeric Foam due to the rising construction spending in the region. Also, ascension observed in the automotive industry is likely to propel the volume of production of lightweight, electric, and hybrid vehicles. This is projected to augment the Global Elastomeric Foam Market during the conjecture period.

Europe is assessed to grow due to the augmentation of the automotive industry in the region. Moreover, with an upsurge witnessed in demand for high energy-efficient and lightweight vehicles to reduce carbon emissions is another factor driving the automotive industry in the region, and in turn, drive the regional market for Elastomeric Foam.

Latin America is expected to expand at a significant rate owing to the expanding automotive sector in Brazil and Mexico. The Middle East & Africa are likely to grow at a steady pace with rising investments in the construction sector and a considerable growth noted in demand for HVAC systems in the region.

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