The global elastomeric foam market is driven mainly by its increasing demand from HVAC system.

The global elastomeric foam market is driven mainly by its increasing demand from HVAC system.

Browse 92 market data Tables and 32 Figures spread through 122 Pages and in-depth TOC on “Elastomeric Foam Market”
Elastomeric Foam Market by Function (Thermal Insulation, and Acoustic Insulation) Type (NBR, and EPDM), End-Use Industry (HVAC, Refrigeration, Heating & Plumbing, and Transportation), and Region

The elastomeric foam market is expected to grow from USD 2.6 billion in 2019 to USD 3.6 billion by 2024, at a CAGR of 6.7 % during the forecast period. The major factors driving the elastomeric foammarket include increasing demand from various end-use industries such as HVAC, refrigeration,heating & plumbing and transportation among others.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164243544

The HVAC industry is increasing owing to increase in demand for energy savings in the modern infrastructure for heating, ventilation, and air conditioning is expected to drive the market for elastomeric foams in the HVAC end-use industry during the forecast period. Furthermore,the rising demand for HVAC in construction industry will also drive the demand. 

Emerging economies such as China, India, Japan, and South Korea are experiencing high demand for elastomeric foam. Increasing per capita expenditure, growing construction industry ,huge consumer base, rising urban population, low labor costs, and easy availability of raw materials are attracting global automobile manufacturers to shift their production facilities to Asia Pacific, thus, creating a high demand for elastomeric foams in these industries.

Thermal Insulation to dominate the global elastomeric foam market

The elastomeric foam market has been segmented based on function into thermal and acoustic insulation. Among these the thermal insulation segment accounted for the largest share of the market in 2018 and is projected to grow at highest CGAR over the forecast period. The growth in this segment is attributed to its increasing usage of thermal insulation because of its ability to to prevent heat transfer between outside and inside of the building,another advantage of thermal insulation is its lightweight properties, which help prevent thermal stress on the roofs of building and fire resistance property. These factors are expected to drive demand during the forecast period.

NBR to dominate the global elastomeric foam market

The elastomeric foam market has been segmented based on types into NBR, EPDM, CR and others. Among these types, the NBR segment accounted for the largest share of the market in 2018 and is likely to witness significant growth over the forecast period. The growth in this segment is attributed to its increasing usage  in various end-use industry due to its excellent mechanical & physical properties and low price when compared with others types such as EPDM. These factors are expected to drive demand during the forecast period.

APAC is estimated to be the leading elastomeric foam market during the forecast period. The growth in the APAC region can be attributed to the rising demand for elstomeric foam from various end-use industries such as HVAC, heating & plumbing and transportation, among others. The presence of a robust industrial base, favorable government policies, and low labor costs are further strengthening the elastomeric foam market and attracting major players to invest in APAC.

Armacell International SA (Germany), Hira Industries (UAE), Zotefoams PLC (UK), L’Isolante K-Flex S.P.A (Italy), Kaimann Insulation (Germany), Huamei Energy-saving Technology Group Co., Ltd. (China), Jinan Retek Industries Inc. (China), Aeroflex USA, Inc. (US), NMC Insulation (Belgium), and Anavid Insulation Products Kiryat Anavim Ltd.(Israel), are the key players operating in the elastomeric foam market.

Request for sample report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=164243544

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/elastomeric-foam-market-164243544.html