Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Elastomeric Foam Market - which is forecasted from 2020 to 2027”.
The rising demand for the HVAC systems and elastomeric foams in the said systems are expected to be the prime growth factors attributing to the growth of the Elastomeric Foam Market in the projected period.
As per the report, Elastomeric Foam Market is expected to grow at a CAGR of 6.17% to reach US$5.008 billion by 2027, from US$3.294 billion in 2020.
Elastomeric Insulation is a closed-cell foam that offers stable, long-term thermal activity along with excellent moisture retention. It is best for applications that predominantly operate below ambient temperature, and condensation poses an issue. These insulation materials are also available in rolls, sheets, and tubes and are designed so that the surface of its exterior edge is smooth to serve as a vapor retarder. Elastomeric Foams are predominantly used in pipes as insulation, owing to their wide range of foams and thicknesses to choose from. Furthermore, they are extensively used in refrigeration, construction, heating, and plumbing operations due to their heat-resistant attributes, ease of installation, and lightweight. The advancing technologies have made the elastomeric foams to be developed as sustainable and eco-friendlier, adding impetus to their growth owing to an increase in green projects. The wide range of applications offered by the product is expected to increase its demand in multiple industries.
On the basis of type, the Elastomeric Foam market is bifurcated into Natural Rubber/Latex, Nitrile Butadiene Rubber, and Ethylene Propylene Dien Monomer. EPDM’s excellent resistance to tearing, abrasion and steam, acids, compression, and sunlight is expected to enable it to possess the largest market share among the three types.
On the basis of application, the Elastomeric Foam market is segmented into air conditioning, water pipes, Liquid Gases, Refrigeration, and others.
On the basis of Geography, the Elastomeric Foam market is segmented into the Asia Pacific, Europe, the Middle East and Africa, North America, and South America. Among these five, Asia Pacific is expected to have a dominant market share. The surging demands for industrial projects and HVAC systems in Asia Pacific countries are expected to drive the market in the region onward.
The enforcement of nationwide lockdowns and social distancing laws amidst the pandemic in several countries has significantly influenced the worldwide economy. The increase in the infected population and closure of manufacturing facilities have decreased productivity, further slowing down the market. Moreover, due to a halt in commercial and industrial operation in end-user industries of elastomeric foam, the demand for the product further plummeted.
As a part of the report, the major players operating in the Elastomeric Foam Market, that have been covered are Armacell Yalitim A.S, Chemical Products Ltd., Hira Industries LLC, Huamei, K-Flex USA, Kaimann, Nataraj Insulation, NMC, Rogers Foam Corporation, Zotefoams.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/elastomeric-foam-market
This analytics report segments the Elastomeric Foam market on the following basis: