The research study conducted by Report Ocean on the “ Elastomeric Foam Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
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.
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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
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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