The global elastomeric foam market size is expected to reach USD 4.31 Billion in 2030 and register a revenue CAGR of 6.5% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is expected to be driven by factors such as ability of elastomeric foams to eliminate the need for any type of vapour barrier to prevent transference of moisture. In addition increasing usage of elastomeric foam among various end-use industries such as heating plumbing, Heating, Ventilation, Air Conditioning (HVAC), industrial and consumer goods, automotive, and electrical electronics is another factor expected to drive market revenue growth during the forecast period.
Moreover, increasing construction activities in developing countries is expected to boost demand for elastomeric foam, and drive revenue growth of the market during the forecast period. Rising awareness of maintaining good indoor air quality is driving demand for elastomeric foams. Elastomeric foam is widely accepted and used in Indoor Air Quality (IAQ) advocates since it does not contain formaldehyde or fibers and has very low Volatile Organic Compounds (VOCs). Moreover, product features such as smooth surface moisture resistance and non-particulate of elastomeric foam help in preventing growth of molds. These are made without using hydro chlorofluorocarbons or hydrofluorocarbons and chlorofluorocarbons, making elastomeric foam suitable for applications with extreme climatic conditions.
Availability of elastomeric foams in a wide variety of shapes and thickness is boosting applications in refrigeration piping, hot cold water lines, chilled water piping, HVAC components, interior exterior duct systems, and mechanical systems in pharmaceutical, industrial, and marine offshore sectors. Growth of the automotive industry worldwide is projected to increase usage of elastomeric foams for gaskets in vehicles, cushioning, sealing, and internal cooling.
Recent advancements in the production of elastomeric foam is expected to boost market growth during the forecast period. Emergence of high temperature foams suitable for up to 300ºF, non-halogen foam ideal for use on stainless steel at high temperature applications, and availability of more colors, including white laminated products for exterior applications where insulation would be subjected to UV exposure, weather, physical abuse would also propel market growth in the near future.
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Some Key Highlights in the Report
- In January 2021, Armacell, a leading manufacturer of flexible insulation materials for engineered foams and insulation materials, launched AF/ArmaFlex generation with improved fire safety. This new elastomeric foam technology contributes to better visibility in case of fire and extends the time available to evacuate a building. This new product line releases 50% less smoke, compared to the conventional flexible elastomeric foam products. It helps in providing rescue teams with better access and giving occupants more time to exit the building. It combines high energy efficiency and excellent condensation protection with increased fire safety. This product also offers optimum thermal insulation properties, long-term high corrosion moisture protection, and increases personal safety in buildings. Moreover, these products are equipped with Microban, a type of antimicrobial additive that offer proactive protection against harmful bacteria, mold, and mildew.
- Synthetic rubber segment is expected to account for largest revenue share in the global elastomeric foam market over the forecast period, owing to its increasing usage across various end-use industries, compared to natural rubber. Better performance benefits offered by synthetic rubber is expected to boost revenue growth of this segment during the forecast period.
- HVAC segment is expected to account largest revenue share in the global elastomeric foam market, owing to its increasing demand from commercial and residential buildings. Rising disposable income of consumers and changing climatic conditions are some other major factors boosting demand for HVAC.
- The elastomeric foam market in Asia Pacific is expected to account for largest revenue share over the forecast period. Expansion of the automotive industry and increasing construction activities in developing countries, especially India and China is projected to increase the usage of elastomeric foams in this region.
- Some companies in the market include Avient Corporation (PolyOne Corporation), Saudi Basic Industries Corporation (SABIC), Armacell, Zotefoams, L'Isolante K-Flex S.p.A., BASF SE, Kaimann GmbH International, Aeroflex, Rubberlite Inc., and Hira industries.
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For the purpose of this report, Reports and Data has segmented the global elastomeric foam market based on type, end-use, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2020-2030)
- Natural Rubber/Latex
- Synthetic Rubber
End-use Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2020-2030)
- HVAC
- Electrical Electronics
- Automotive
- Industrial Consumer goods
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2020-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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