Elastomeric Foam Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™
The global Elastomeric FoamMarket size is projected to reach USD 4,462.1 million by the end of 2027.The presence of several large-scale companies will contribute to the growth ofthe market in the coming years.
According to a report published by FortuneBusiness Insights, titled “Elastomeric Foam Market Size,Share & COVID-19 Impact Analysis, By Function (Thermal Insulation, AcousticInsulation), By Type (EPDM, Nitrile Rubber (NBR), Others), By Application(HVAC, Automotive & Transportation, Electrical & Electronics, Others),and Regional Forecast, 2020-2027” the market was worth USD 2,648.6million in 2019 and will exhibit a CAGR of 6.8% during the forecast period,2020-2027.
Elastomeric foam is widely used in theelectronics and electrical industry for a wide range of applications amongwhich insulations stand out as primary use. The product possesses theproperties of rubber on the physical front, including ‘flexibility’ and‘elasticity’. These properties make it suitable for specific or customizedapplications wherein a large distance of wire is to be insulated without theluxury of a straight line. The massive investments in the research anddevelopment of efficient products will have a massive impact on the growth ofthe overall market in the coming years. The presence of several large-scalecompanies will subsequently emerge in favor of growth of the overall market inthe foreseeable future. The increasing investments in product R&D haveenabled a wider application scope and subsequently cater to consumer-specificapplications, thus creating a massive growth platform for companies in thissector.
Lack of Raw Material Supply during theCovid-19 Pandemic has Affected Production
The recent coronavirus outbreak has hada massive impact on several economies across the globe. Due to the rapid spreadof the disease, several countries are looking to implement strict measures tocontrol the spread of the disease. The efforts taken to curb the spread of thedisease have limited the growth of businesses across the world. Due topractices such as social distancing and lockdowns, there has been a massiveshortage of raw materials and resources across the globe. This has affected theproduction of elastomeric foam across the world. However, the efforts taken toresume industrial operations will bring relief to the companies in this sector.
Increasing Number of ProductInnovations will Contribute to Market Growth
The report encompasses several factorsthat have contributed to the growth of the overall market in recentyears. Among all factors, the increasing number of product innovationshas made the highest impact on the growth of the market. The rising innovationsare attributable to the increasing R&D investments and evidently, theincreasing global demand for the product has had a direct impact on this. InFebruary 2020, Zotefoams announced the launch of a new line-up of supremeclosed-cell foams. The company introduced the new Zotek, Zotek N, and Zotek Tproducts in its range of elastomeric foams. Given the increasing productdemand, the company will look to enhance its global presence and subsequentlyestablish a wider customer base. The increasing number of such productinnovations will have a huge impact on the growth of the overall market in theforthcoming years.
Asia Pacific to Emerge Dominant;Increasing Product Use in HVAC Systems to Aid Growth
The report analyzes the ongoing markettrends across North America, Asia Pacific, Europe, the Middle East &Africa, and Latin America. Among all regions, the elastomeric foam market inAsia Pacific is projected to emerge dominant in the coming years. Theincreasing use of elastomeric foams in HVAC systems has created a massiveplatform for growth for the companies operating in the market. Thepresence of large scale manufacturers has enabled a wider product adoption,especially in densely populated countries such as India and China. As of 2019,the market in Asia Pacific was worth USD 1000.9 million and this value isprojected to rise at considerable pace in the coming years. Besides AsiaPacific, the market in North America will rise at a considerable pace driven bythe increasing product use in the building and construction industry acrossthis region.
List of the Leading Companies Profiledin the Global Elastomeric Foam Market are:
- Armacell International SA (Munstar, Germany)
- Hira Industries (Dubai, UAE)
- Zotefoams PLC (London, UK)
- L’Isolante K-Flex S.P.A (Roncello, Italy)
- Kaimann Insulation (NRW, Germany)
- Huamei Energy-saving Technology Group Co., Ltd. (Beijing, China)
- Aeroflex USA, Inc. (Tennessee, U.S.)
- NMC Insulation (Eynatten, UK)
- Rubberlite. Inc. (Huntington, U.S.)
- Kingswell World Industries (Langfang, China)
- Other Key Players
Industry Developments:
October 2019 - Zotefoams introduced a new, innovative andunique range of cellular materials at K 2019. The company will display therecent innovations in the premium and high-performance range of products underthe brand name Zotek and Azote.
Browse Detailed Summary of Research Reportwith TOC:
https://www.fortunebusinessinsights.com/elastomeric-foam-market-104004
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Collaboration, New Type Launches, and Mergers & Acquisitions
- Global Elastomeric Foam Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Function (Value)
- Thermal Insulation
- Acoustic Insulation
- By Type (Value)
- EPDM
- Nitrile Rubber (NBR)
- Others
- By Application (Value)
- HVAC
- Automotive & Transportation
- Electrical & Electronics
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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