The changing dynamics in Elastomeric Foam Market with covid-19 impact assessment
June 08, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Elastomeric Foam Market.
It was estimated prior to this unanticipated outbreak that the Elastomeric Foam Market was expected to grow at a CAGR of 6.9% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Elastomeric Foam is free from hydrofluorocarbons, hydrochlorofluorocarbons, and chlorofluorocarbons. This procedure of manufacturing makes them lesser harmful to the environment.
Elastomeric Foam can be of latex or natural rubber and also synthetic rubber. They are used across a number of industries such as automotive, HVAC, electronics, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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.
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.
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.,.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Elastomeric Foam Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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