Global Elastomeric Foam Market Worth to Reach USD 4 Billion by 2026

Facts and Factors report "Elastomeric Foam Market By Function (Thermal Insulation, and Acoustic Insulation), By Type (Nitrile Butadiene Rubber, Ethylene Propylene Diene Monomer, Chloroprene, and Others) and By End-Use Industry (HVAC, Heating & Plumbing, Refrigeration, Transportation, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global elastomeric foam market in 2019 was approximately USD 2.6 Billion. The market is expected to grow at a CAGR of 6.7% and is anticipated to reach around USD 4 Billion by 2026.

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Elastomeric foam is used as an alternative for natural insulating materials. It is used in refrigeration systems, plumbing, and HVAC systems to restrain vapor and moisture from entering the system. Chlorofluorocarbons (CFCs), hydrofluorocarbons (HCFCs) or hydrofluorocarbons (HFCs) are not involved in their production. Hence it makes them ideal also for use in harsh environments. The volatile organic compounds (VOCs) content is very low level in elastomeric foam and is thus safe from the environmental standpoint.

Increased demand for HVAC is expected to drive the market for elastomeric foams. Due to rising construction spending and increased revenue in major economies, the market for HVAC equipment is increasing rapidly. The major factor for the worldwide high demand for HVAC equipment is climate change. The need to minimize noise pollution is another major driver of the elastomeric foam market. Nevertheless, the elastomeric foam industry is hampered by a lack of awareness of the advantages of insulation. Strict government regulation that encourages energy efficiency creates new market opportunities in the next few years.

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The elastomeric foam market is divided into segments based on function, type, and end-use industry. Under the function segment, the thermal insulation category had the largest market share in 2018. Growth in this segment is attributed to the increasing use of thermal insulation from various end-use industries such as HVAC and end-use heating & plumbing due to their exceptional characteristics such as fire resistance and easy setup. The Nitrile Butadiene Rubber category had the largest share in 2018, based on product segmentation. Because of its astonishing characteristics such as excellent reasonable cost, good fuel resistance, resistance to acid swelling, and fire efficiency compared to other types of rubber, the growth of this segment is due to its growing use in various end-use industries. During the forecast period, the HVAC industry is expected to drive the market for elastomeric foams in the HVAC end-use industry as demand for energy savings in modern heating, ventilation, and air conditioning systems increase.

The Asia Pacific is the biggest and fastest-growing market for elastomeric foam. This can be attributed to the increasing use in the HVAC system. However, the rising investment in the automotive and construction sector will also drive the market in the Asia Pacific region over the forecast period. The manufacturing industry is growing rapidly in Asian countries such as India and China. This is expected to boom the elastomeric foam demand in the upcoming years. Asia Pacific region is followed by North America and Europe for the elastomeric foam market share. Steady growth in Europe is anticipated in the upcoming years.

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The key market players of the elastomeric foam market are Armacell International S.A., Huamei Energy-Saving Technology Group Co., Ltd., Kaimann GmbH, Hira Industries, NMC SA, Anavid Insulation Products KiryatAnavim Ltd., L'isolante K-Flex S.P.A., Aeroflex, ZotefoamsPlc, Jinan Retex Industries Inc, and others.

This report segments the elastomeric foam market as follows:

Global Elastomeric Foam Market: By Function Segmentation Analysis

Thermal Insulation
Acoustic Insulation

Global Elastomeric Foam Market: By Type Segmentation Analysis

Nitrile Butadiene Rubber
Ethylene Propylene Diene Monomer
Chloroprene
Others

Global Elastomeric Foam Market: By End-Use Industry Segmentation Analysis

HVAC
Heating & Plumbing
Refrigeration
Transportation
Others

Global Elastomeric Foam Market: Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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