Global Elastomeric Foam Market Size study & Forecast, by Function (Thermal Insulation, Acoustic Insulation) by Type (Ethylene Propylene Diene Monomer (EPDM), Nitrile Rubber (NBR), Others), by Application (Heating, Ventilation, and Air Conditioning (HVAC),

Global Elastomeric Foam Market Size study & Forecast, by Function (Thermal Insulation, Acoustic Insulation) by Type (Ethylene Propylene Diene Monomer (EPDM), Nitrile Rubber (NBR), Others), by Application (Heating, Ventilation, and Air Conditioning (HVAC), Automotive, Electrical & Electronics, Others) and Regional Analysis, 2022-2029

Global Elastomeric Foam Market is valued at approximately USD 2.96 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.70% over the forecast period 2022-2029. Elastomeric foam is a rubber-based insulation material with a uniform cell structure and strong vapor diffusion properties. Since it offers greater insulation and condensation control in HVAC systems while consuming less energy, it is used in air conditioners, refrigerators, chilled water pipes, tube equipment, and fittings. The two types of elastomeric foam are made of natural rubber and synthetic rubber, the latter of which contains nitrile butadiene rubber, ethylene propylene diene monomer (EPDM), and chloroprene. Nitrile butadiene rubber elastomeric foam is used extensively because of its excellent qualities, including high moisture resistance, thermal resistance, chemical resistance, flexibility, and elasticity. The key factor driving the market growth is superior properties of elastomeric foam, rising demand for HVAC systems, and growth in cold chain infrastructure is anticipated to support the market’s growth during the forecast period.

HVAC systems are utilized to maintain the indoor temperature in buildings, cars, and both residential and commercial infrastructure. By using heating, ventilation, and air conditioning, involve maintaining the space's temperature, airflow, air quality, and ventilation. Elastomeric foam market growth is anticipated to be fueled by rising demand from a variety of application sectors, including hospitals, residential facilities, apartments, and others in which a safe and healthy environment is regulated in accordance with weather conditions, especially, humidity, temperature, and outdoor air availability. Thus, the rising demand for HVAC systems is anticipated to support the market’s growth during the forecast period. According to Statista, in 2021, the HVAC chillers market was valued at USD 9.43 billion, and it is anticipated to reach USD 12.88 billion by 2028. As a result, the rising HVAC chillers market is projected to boost the market Additionally, the stringent government regulations encouraging energy efficiency are anticipated to create a lucrative opportunity for the market during the forecast period. However, the lack of awareness about the benefits of insulation stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Elastomeric Foam Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the dominating region across the world in terms of market share, owing to the rising usage in various end-use industries such as heating & plumbing and HVAC, among others. Furthermore, growing investments in the automotive and increasing construction industries will also drive the market in this region. Whereas, North America is also anticipated to exhibit the highest growth rate over the forecast period, owing to factors such as high demand for HVAC systems from residential & commercial buildings and infrastructure activities and growing consumer expenditure on infrastructure activities with rising per-capita disposable income would create lucrative growth prospects for the Elastomeric Foam market across North America region.

Major market player included in this report are:
Armacell International SA (Germany)
Hira Industries LLC (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)
Anavid Insulation Products Kiryat Anavim Ltd. (Israel)

Recent Developments in the Market:
 In Feb. 2020, Frimo Group GmbH and the Hennecke Group formed a strategic alliance in the business of polyurethane (PU) as well as other reactive plastic applications for the automotive sector. Elastomer processing, moulded foam processing, polyurethane composite spray moulding (PUR-CSM) technology, and lightweight composite for PU spray applications make up the partnership's primary business divisions.

Global Elastomeric Foam Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Function, Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Function:
Thermal Insulation
Acoustic Insulation
By Type:
Ethylene Propylene Diene Monomer (EPDM)
Nitrile Rubber (NBR)
Others
By Application:
Heating, Ventilation, and Air Conditioning (HVAC)
Automotive
Electrical & Electronics
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
Armacell International SA (Germany)
Hira Industries LLC (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)
Anavid Insulation Products Kiryat Anavim Ltd. (Israel)

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