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Elastomeric Foam Market Analysis

  • Report ID: GMI8875
  • Published Date: Apr 2024
  • Report Format: PDF

Elastomeric Foam Market Analysis

Based on type, the market is divided into nitrile butadiene rubber, ethylene propylene diene monomer, chloroprene and other. Nitrile butadiene rubber (NBR) held the dominant market share of 1.47 billion in 2023 and is expected to reach USD 2.34 billion by 2032. Nitrile butadiene rubber (NBR) stands out as the most popular type in the elastomeric foam market for several reasons.

Firstly, NBR offers excellent oil and fuel resistance, making it ideal for applications in industries such as automotive and transportation where exposure to petroleum-based fluids is common. Secondly, NBR exhibits superior thermal resistance, making it suitable for insulation in HVAC systems and refrigeration units. Additionally, NBR's high resilience and durability contribute to its popularity, ensuring long-lasting performance in diverse environments. Furthermore, NBR's relatively low cost compared to other elastomeric foam materials makes it a cost-effective choice for many applications.

Elastomeric Foam Market Revenue Share, By Function, (2023)

Based on function, the market is categorized into thermal insulation, acoustic insulation and other. Thermal insulation accounted for 69% market share in 2023 and is projected to grow through 2032. There's a pervasive global emphasis on energy efficiency, making thermal insulation crucial for reducing heat transfer and conserving energy in various applications such as HVAC systems and building construction. Secondly, regulations and standards mandating energy efficiency further drive the demand for thermal insulation solutions. Additionally, the versatility of elastomeric foam materials in providing effective thermal insulation across a wide temperature range enhances their popularity. Moreover, the need to mitigate heat loss or gain for improved comfort, reduced energy costs, and enhanced environmental sustainability solidifies thermal insulation's role as a primary function in the market."

Based on end use, the elastomeric foam market is divided into hvac & refrigeration, heating & plumbing, transportation, construction and other. HVAC & Refrigeration held the dominant market share of USD 1.34 billion in 2023 and is expected to reach USD 2.14 billion by 2032. The HVAC (Heating, Ventilation, and Air Conditioning) sector is fundamental for maintaining optimal indoor air quality and temperature control in residential, commercial, and industrial buildings. Elastomeric foam insulation plays a critical role in HVAC systems by effectively minimizing heat transfer and reducing energy consumption, thus enhancing system efficiency. Additionally, refrigeration systems rely heavily on insulation to maintain consistent and controlled temperatures, making elastomeric foam indispensable in this sector. Moreover, the continuous advancements in HVAC & Refrigeration technologies further propel the demand for high-performance insulation materials, solidifying its position as a key end-use in the market.

Asia Pacific Elastomeric Foam Market Size, 2020- 2032 (USD Billion)

Asia Pacific dominated the global elastomeric foam market in 2023. It generated a revenue of USD 1.18 billion in 2023 and is expected to reach USD 1.91 billion by 2032. Rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations drive significant demand for insulation materials across various sectors, including construction, HVAC, and automotive. Secondly, increasing awareness of energy efficiency and sustainability encourages the adoption of elastomeric foam insulation in both residential and commercial buildings.

Additionally, infrastructure development projects, such as transportation networks and smart cities initiatives, further fuel the demand for insulation materials. Moreover, the presence of a large manufacturing base in the region supports the production and supply of elastomeric foam products, driving market growth. Furthermore, favorable government policies and investments in energy-efficient technologies contribute to the expanding market opportunities in the Asia Pacific region.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for elastomeric foam crossed USD 3 billion in 2023 and is set to grow at 5% CAGR between 2024 and 2032, driven by a growing demand for energy-efficient insulation solutions across industries such as HVAC, automotive, and construction.

The nitrile butadiene rubber (NBR) type segment in the elastomeric foam market reached 1.47 billion in 2023 and is set to exceed USD 2.34 billion by 2032, as it offers excellent oil and fuel resistance, making it ideal for applications in industries such as automotive and transportation.

Asia Pacific elastomeric foam market reached USD 1.18 billion in 2023 and is set to exceed USD 1.91 billion by 2032, driven by rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations.

Aeroflex USA, Anavid Insulation Products Kiryat Anavim Ltd., Armacell International S.A., Hira Industries, Huamei Energy-Saving Technology Group Co., Lt d., Jinan Retex Industries Inc, Kaimann GmbH, L'isolante K-Flex S.P.A. among others.

Elastomeric Foam Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 210
  • Countries covered: 22
  • Pages: 320
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