The Elastomeric Foam Market Global Industry Report is estimated at USD 1.28 billion in 2018 and is projected to reach USD 1.75 billion by 2023, at a CAGR of 6.5% between 2018 and 2023.
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The market is witnessing growth due to the increasing demand for elastomeric foam due to their superior properties and growing awareness of energy saving. The increasing consumption of elastomeric foam in the industries such as HVAC, automotive, and electrical & electronics is also contributing to the growth of the elastomeric foam market.
This study answers several questions for stakeholders, primarily, which market segments they should focus upon during the next two to five years to prioritize their efforts and investments. These stakeholders include elastomeric foam manufacturers such as Armacell (Germany), Hira Industries (UAE), Zotefoams (UK), L’ISOLANTE K-FLEX (Italy), Kaimann (Germany), Huamei Energy-saving Technology Group (China), Jinan Retek Industries (China), Aeroflex USA, (US), NMC SA (Belgium), and Anavid Insulation Products (Israel).
APAC is projected to be the fastest-growing elastomeric foam market, in terms of both value and volume, during the forecast period. India is projected to be the fastest-growing elastomeric foam market in APAC. This can be attributed to the high growth of the building & construction industry in the region as a result of rapid urbanization. This has indirectly led to an increased demand for HVAC system installations in commercial and residential buildings, thereby, increasing the consumption of elastomeric foam as an insulation material. Moreover, the shift of manufacturing bases in the region has led to industrialization, which has contributed to an increased demand for elastomeric foam from other industries such as automotive and electrical & electronics in the region.
Synthetic-based elastomeric foam is estimated to be the fastest-growing type segment of the elastomeric foam market during the forecast period. Synthetic-based elastomeric foam and especially, the NBR rubber type of synthetic elastomeric foam has unique properties such as resistance to abrasion, tear and compression set, which makes them ideal for use in industries such as HVAC, automotive, and electrical & electronics.
HVAC is expected to be the fastest-growing end-use industry of elastomeric foam during the forecast period. Elastomeric foams are used for insulation purpose in HVAC systems and provide thermal efficiency and acoustic benefits to the HVAC systems. HVAC systems have become an integral part of the building and construction industry due to their increased installation in the commercial as well as residential buildings. The robust growth of the building & construction industry, especially in the developing regions, is expected to boost the demand for elastomeric foam from this industry.
List of Figures (40 Figures)
Figure 1 Elastomeric Foam Market Segmentation
Figure 2 Elastomeric Foam Market: Research Design
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Elastomeric Foam Market: Data Triangulation
Figure 6 APAC Dominated the Elastomeric Foam Market in 2017
Figure 7 NBR to Be the Largest Type of Synthetic Elastomeric Foam
Figure 8 HVAC Industry to Dominate the Elastomeric Foam Market
Figure 9 Elastomeric Foam Market to Witness A Moderate Growth Between 2018 and 2023
Figure 10 APAC to Be the Fastest-Growing Elastomeric Foam Market
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