Elastomeric Foam Market: Introduction
Elastomeric foam has been used for insulation purposes since the 1950s. It is the largest type of insulating foam used in the market. It is primarily used in Heating, Ventilation & Air Conditioning (HVAC), plumbing, and refrigeration systems in order to provide a barrier to the entry of moisture and vapor into the systems. Elastomeric foams are used as a replacement for natural insulating materials, such as cork. Their manufacturing does not involve chlorofluorocarbons (CFCs), hydro chlorofluorocarbons (HCFCs), or hydro fluorocarbons (HFCs). This makes them suitable for use even in tough environments. They also contain a very low amount of volatile organic compounds (VOC) and are, therefore, environmentally safe. Advances in manufacturing process have made it possible to fabricate elastomeric foams that are suitable for demanding applications that require superior properties.
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Elastomeric Foam Market: Overview
On the basis of type, the global elastomeric foam market can be segmented into natural rubber/ latex and synthetic rubber. The synthetic rubber segment can be sub-segmented into Nitrile-Butadiene Rubber (NBR), Ethylene-Propylene Diamine Monomer (EPDM), and Chloroprene Rubber (CR). The synthetic rubber segment is estimated to be grow rapidly led by the rise in demand for NBR. NBR is an economical alternative to other synthetic rubbers and has better properties compared to them. In terms of application, the global elastomeric foam market can be divided into Heating, Ventilation & Air Conditioning (HVAC) systems, automotive, electrical & electronics, and others. HVAC systems is estimated to grow at a significant pace during the forecast period.
Elastomeric Foam Market: Market Trends & Developments
The elastomeric foam market is growing at a healthy pace on account of better insulation properties possessed by elastomeric foams and also due to the general growth in the application segments of this product. The use of elastomeric foam is on a rise in HVAC systems. This can be ascribed to the growth in population and strict regulations making it necessary for HVAC systems to be energy efficient. Government policies across the globe are becoming quiet stringent regarding energy efficiency. This is, therefore, expected to prove as an opportunity for the growth of elastomeric foam market during the forecast period. Relatively high cost of elastomeric foams as compared to other insulation methods and lack of awareness regarding the advantages they offer over conventional materials are restraining the growth of the elastomeric foam market.
Elastomeric Foam Market: Regional Outlook
The global elastomeric foam market, on the basis of region, can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the leading market for elastomeric foam in the world and is estimated to grow at a rapid pace during the forecast period. North America and Europe are the second and third dominant elastomeric foam markets, respectively, and are anticipated to grow at a slow pace during the forecast period. Latin America and Middle East & Africa are anticipated to be lucrative elastomeric foam markets during the forecast period and are likely to witness rapid increase in demand for elastomeric foam market.
Elastomeric Foam Market: Key Players
Key players operating in the elastomeric foam market are Armacell (Germany), Hira Industries (the UAE), Zotefoams (the U.K.), L’ISOLANTE K-FLEX (Italy), Kaimann (Germany), Jinan Retek Industries (China), Aeroflex USA (the U.S.), NMC SA (Belgium), and Anavid (Israel).