Elastomeric Foam Market to experience an impressive growth of 6.9% during 2020-2025
January 28, 2020
Elastomeric Foam Market is likely to witness an impressive CAGR of 6.9% during the forecast period. The extensive use of elastomeric foam as insulation material for energy saving and its demand from various end-use industries, such as automotive, HVAC, and electrical & electronics is driving the elastomeric foam market globally.
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Elastomeric Foam Market Segment Insights:
By Type:
Based on the type, the market is segmented as natural rubber/latex and synthetic rubber. The larger share of the market is held by synthetic rubber as it is more economical than natural rubber and also offers better properties for various applications. The Nitrile-Butadiene Rubber (NBR) is a widely used synthetic rubber; Ethylene-Propylene Diamine Monomer (EPDM) and Chloroprene Rubber (CR) are the other major types of synthetic rubber used in the industry.
By End-Use Industry Type:
Based on the end-use industry type, the market is segmented as HVAC, automotive, electrical & electronics, and others. The HVAC segment is estimated to remain the dominant segment during the forecast period. Stringent regulations for energy efficient HVAC systems in industries are elevating the demand for elastomeric foam in HVAC application. In automotive industry, elastomeric foams are generally used in gaskets & seals, trim, panels, liners, insulation and in mats.
By Region:
In terms of regions, Asia-Pacific is expected to be the largest market for elastomeric foam in the coming five years. China and India are the growth engines of the region. The market is driven by the growing demand for elastomeric foam from various end-use industries and the presence of elastomeric foam manufacturers and their customers in the region. North America and Europe are also expected to offer substantial demand during the forecast period.
Key Players:
Some of the elastomeric foam manufacturers are Armacell International S.A., Zotefoams PLC., L'isolante K-Flex S.p.A., Kaimann GmbH International, Huamei Energy-Saving Technology Group Co.,Ltd, Rogers Corporation, Jinan Retek Industries Inc., Hira Industries, and Aeroflex USA, Inc.
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- Attractive market segments and associated growth opportunities
- Emerging trends
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- Key success factors
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