Elastomeric Foam Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Introduction, Natural Rubber/Latex, Ethylene Propylene Dien Monomer (EPDM), Nitrile Butadiene Rubber (NBR)), By Application (Introduction, Air Conditioning, Refrigeration, Water Pipes, Liquid Gasses, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061611641
  • Pages : 124

The elastomeric foam market is evaluated at US$3.384 billion for the year 2022 and is projected to grow at a CAGR of 6.33% to reach a market size of US$5.891 billion by the year 2029.

Synthetic rubber compounds make up elastomeric foam, a multipurpose insulation material that is well-known for its remarkable durability, flexibility, and thermal insulation qualities. It is widely used in HVAC systems, and its rubbery structure helps it adapt to different surfaces and configurations while efficiently reducing heat transfer and maintaining appropriate temperatures. Its natural resistance to moisture and humidity defends against corrosion and mold growth in humid conditions, as well as preventing condensation-related problems.

Additionally, elastomeric foam is an effective sound absorber that improves HVAC systems' acoustic insulation by reducing noise transfer. Its resilience to external influences and UV rays guarantees years of dependability and performance.


MARKET TRENDS:

Constantly changing weather conditions, pollution, pollutants, and humidity drive the elastomeric foam market growth. Closed-cell foam is also best suited for refrigeration applications. It is frequently utilized in the heating and plumbing industries due to its ease of installation and fire-resistant characteristics.  Furthermore, due to their lightweight, they are used in the construction industry to reduce total building weight. The development of environmentally friendly products is a prominent trend. Consumer knowledge of the disposability of elastomers and the emissions of gases during the production process has considerably raised the demand for eco-friendly and sustainable insulation.

In addition, CFCs, HFCs, and other hazardous gases have been phased out of the production process. The newly created environmentally friendly elastomeric foams are very durable, up to 40% lighter in weight than rubber sponges, do not absorb water, and are simply manufactured. These factors altogether impact the elastomeric foam market.

MARKET DRIVERS:

  • Increased demand for HVAC systems from end-use sectors.

Growing demand for HVAC (heating, ventilation, and air conditioning) systems is a major factor driving the elastomeric foam market. Effective climate control systems are necessary for the increasing number of residential, commercial, and industrial buildings that are being built as a result of population growth, urbanization, and industrialization. Highly valued for its outstanding thermal insulation capabilities, elastomeric foam becomes essential in HVAC applications where it is used to insulate air handling units, ducts, and pipes.

The need for elastomeric foam is further increased by the growing use of energy-efficient HVAC systems, which is being pushed by environmental objectives and legal requirements. Furthermore, the growth of HVAC systems is driven by advances in building technology and the increased emphasis on indoor air quality, which sustains market demand for elastomeric foam.

  • Energy efficiency regulations may positively impact the market.

Energy efficiency laws drive demand for high-performance insulation materials, which has a significant impact on the elastomeric foam industry. It is becoming more and more important to improve the thermal efficiency of buildings and industrial facilities as governments across the world impose strict energy regulations and requirements meant to lower greenhouse gas emissions and promote sustainable building practices.

To satisfy these regulations, elastomeric foam which is well-known for its remarkable insulating qualities, such as its low heat conductivity and moisture resistance emerges as a preferred option. Elastomeric foam is being used more by contractors, builders, and facility managers to improve the energy efficiency of pipelines, ducts, HVAC systems, and other infrastructure parts.

A rise in construction activities is anticipated to fuel the elastomeric foam market.

The elastomeric foam market is significantly impacted by the growth in construction activities, which fuels the need for insulating materials in infrastructure and building projects. To improve energy efficiency, adhere to building requirements, and guarantee occupant comfort, there is a growing need for high-performance insulation solutions, especially in rising economies and metropolitan regions.

Furthermore, owing to its exceptional flexibility, durability, and thermal insulation qualities, elastomeric foam has become the material of choice for many different building project applications. It is widely used to insulate pipes, refrigeration units, HVAC systems, and building envelopes, which include walls, floors, and roofs. Furthermore, as elastomeric foam lowers energy use and greenhouse gas emissions, the growing emphasis on sustainable construction techniques encourages its use.

MARKET RESTRAINTS:

  • Disposability and lack of awareness among consumers may hinder the market growth.

Foams are produced from a variety of elastomers, including chloroprene, butadiene, isoprene, acrylonitrile, Buna N, butyl rubbers, and others. One of the problems impeding market expansion is disposability. When burned, a few elastomers emit poisonous and hazardous gases, have a sooty flame, and have an unpleasant odor. Furthermore, owing to a lack of exposure to technical developments in material science, the usage of conventional goods such as cotton, natural latex, coir, and organic wool instead of elastomeric foam is projected to reduce market demand.

Asia Pacific is predicted to account for a significant share of the elastomeric foam market.

Asia-Pacific is expected to have the highest elastomeric foam market share. The high demand for HVAC systems from the industrial sector to manage temperature and ventilation will drive up the demand for elastomeric foam. Thermal insulation is one of the most frequently utilized strategies and is used in a variety of sectors to assist in maintaining the correct environment required for industrial operations. Proper ventilation, temperature control, and air cleansing, for instance, are necessary for the chemical storage and production industries to ensure a healthy and safe workplace for workers. The rising demand for HVAC systems in this region is anticipated to be fuelled by the increasing demand from industrial businesses and storage facilities.

The ease of obtaining raw materials in countries such as China, India, and other Southeast Asian countries is projected to boost the market’s growth. Low labor costs in various Asia-Pacific nations are anticipated to be one of the major motivators for manufacturers to develop new manufacturing facilities and business units.

Market Developments:

  • In January 2022, a new industry standard for thermal insulation materials made of flexible elastomeric foam was released, according to Japan's Ministry of Economy, Trade and Industry. The JIS A9516 standard was developed with significant assistance from Armacell, a major supplier of tailored foams and a global leader in flexible foam for the equipment insulation sector.
  • In July 2021, Aptar announced an agreement with Weihai Hengyu Medical Products to add elastomeric and plastic component manufacturing capabilities in China for injectable drug delivery.

Elastomeric Foam Market Scope:

 

Report Metric Details
Market Size Value in 2022 US$3.384 billion
Market Size Value in 2029 US$5.891 billion
Growth Rate CAGR of 6.33% from 2022 to 2029
Study Period
2019 to 2029
Historical Data
2019 to 2022
Base Year 2023
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segments Covered
  • Type
  • Application
  • Geography
Companies Covered
  • Armacell Yalitim A.S.
  • Zotefoams
  • Kaimann (Saint-Gobain Group)
  • Huamei Energy-Saving Technology Group Co. Ltd.
  • Hira Industries LLC
  • And more
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope Free report customization with purchase

 

Segmentation:

  • By Type
    • Natural Rubber/Latex
    • Ethylene Propylene Dien Monomer (EPDM)
    • Nitrile Butadiene Rubber (NBR)
  • By Application
    • Air Conditioning
    • Refrigeration
    • Water Pipes
    • Liquid gasses
    • Others
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • France
      • Germany
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

The global elastomeric foam market is expected to grow at a CAGR of 6.33% during the forecast period.
The elastomeric foam market is expected to reach a market size of US$5.891 billion by 2029.
Elastomeric Foam Market was valued at US$3.834 billion in 2022.
Asia Pacific is expected to hold a significant share of the elastomeric foam market.
The constantly changing weather conditions, pollution, pollutants, and humidity drive the elastomeric foam market growth.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits for the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. ELASTOMERIC FOAM MARKET, BY TYPE

5.1. Introduction

5.2. Natural Rubber/Latex

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Ethylene Propylene Dien Monomer (EPDM)

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Nitrile Butadiene Rubber (NBR)

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

6. ELASTOMERIC FOAM MARKET, BY APPLICATION

6.1. Introduction

6.2. Air Conditioning

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Refrigeration

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Water Pipes

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

6.5. Liquid Gasses

6.5.1. Market Trends and Opportunities

6.5.2. Growth Prospects

6.5.3. Geographic Lucrativeness

6.6. Others

6.6.1. Market Trends and Opportunities

6.6.2. Growth Prospects

6.6.3. Geographic Lucrativeness

7. ELASTOMERIC FOAM MARKET, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Type

7.2.2. By Application

7.2.3. By Country

7.2.3.1. United States

7.2.3.1.1. Market Trends and Opportunities

7.2.3.1.2. Growth Prospects

7.2.3.2. Canada

7.2.3.2.1. Market Trends and Opportunities

7.2.3.2.2. Growth Prospects

7.2.3.3. Mexico

7.2.3.3.1. Market Trends and Opportunities

7.2.3.3.2. Growth Prospects

7.3. South America

7.3.1. By Type

7.3.2. By Application

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.1.1. Market Trends and Opportunities

7.3.3.1.2. Growth Prospects

7.3.3.2. Argentina

7.3.3.2.1. Market Trends and Opportunities

7.3.3.2.2. Growth Prospects

7.3.3.3. Others

7.3.3.3.1. Market Trends and Opportunities

7.3.3.3.2. Growth Prospects

7.4. Europe

7.4.1. By Type

7.4.2. By Application

7.4.3. By Country

7.4.3.1. UK

7.4.3.1.1. Market Trends and Opportunities

7.4.3.1.2. Growth Prospects

7.4.3.2. France

7.4.3.2.1. Market Trends and Opportunities

7.4.3.2.2. Growth Prospects

7.4.3.3. Germany

7.4.3.3.1. Market Trends and Opportunities

7.4.3.3.2. Growth Prospects

7.4.3.4. Italy

7.4.3.4.1. Market Trends and Opportunities

7.4.3.4.2. Growth Prospects

7.4.3.5. Others

7.4.3.5.1. Market Trends and Opportunities

7.4.3.5.2. Growth Prospects

7.5. Middle East and Africa

7.5.1. By Type

7.5.2. By Application

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.1.1. Market Trends and Opportunities

7.5.3.1.2. Growth Prospects

7.5.3.2. UAE

7.5.3.2.1. Market Trends and Opportunities

7.5.3.2.2. Growth Prospects

7.5.3.3. Others

7.5.3.3.1. Market Trends and Opportunities

7.5.3.3.2. Growth Prospects

7.6. Asia Pacific

7.6.1. By Type

7.6.2. By Application

7.6.3. By Country

7.6.3.1. Japan

7.6.3.1.1. Market Trends and Opportunities

7.6.3.1.2. Growth Prospects

7.6.3.2. China

7.6.3.2.1. Market Trends and Opportunities

7.6.3.2.2. Growth Prospects

7.6.3.3. India

7.6.3.3.1. Market Trends and Opportunities

7.6.3.3.2. Growth Prospects

7.6.3.4. Thailand

7.6.3.4.1. Market Trends and Opportunities

7.6.3.4.2. Growth Prospects

7.6.3.5. Taiwan

7.6.3.5.1. Market Trends and Opportunities

7.6.3.5.2. Growth Prospects

7.6.3.6. Indonesia

7.6.3.6.1. Market Trends and Opportunities

7.6.3.6.2. Growth Prospects

7.6.3.7. Others

7.6.3.7.1. Market Trends and Opportunities

7.6.3.7.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Armacell Yalitim A.S.

9.2. Zotefoams

9.3. Kaimann (Saint-Gobain Group)

9.4. Huamei Energy-Saving Technology Group Co. Ltd.

9.5. Hira Industries LLC

9.6. NMC Technical Insulation

9.7. Rogers Foam Corporation

9.8. K-Flex USA 

9.9. Aerofoam


Armacell Yalitim A.S.

Zotefoams

Kaimann (Saint-Gobain Group)

Huamei Energy-Saving Technology Group Co. Ltd.

Hira Industries LLC

NMC Technical Insulation

Rogers Foam Corporation

K-Flex USA 

Aerofoam