Global Flexible Elastomeric Foam Market is Expected to Reach USD 2.91 Billion by 2025: Fior Markets

Flexible Elastomeric Foam Market by Type (Natural Rubber/Latex, Chloroprene, Others), Function, End User Industry, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025


New Jersey, NJ, July 29, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled, "Flexible Elastomeric Foam Market by Type (Natural Rubber/Latex, Chloroprene, Others), Function, End User Industry, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025". As per the report, the global flexible elastomeric foam market is expected to grow from USD 1.98 Billion in 2017 to USD 2.91 Billion by 2025, at a CAGR of 4.91% during the forecast period from 2018-2025. Increasing demand for the thermal and acoustic insulation materials form the HVAC and automotive, electrical and electronics industries are driving the global flexible elastomeric foam market.

Market Outlook of the Flexible Elastomeric Foam

  • The elastomeric foams have been used for the purpose of thermal insulation since the 1950s. Elastomeric foams are primarily used in the HVAC and refrigeration systems as an effective barrier against the entry of the moisture and vapor into the systems. Elastomeric foams are being increasingly used as a replacement for the natural insulating materials, such as cork. Also, the manufacturing process of the elastomeric foam does not involve chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), or hydrofluorocarbons (HFCs), thus environmentally friendly.
  • Increasing investments on the research and development activities as well as advancements in the manufacturing process have made it possible to fabricate the flexible elastomeric foams that are suitable for demanding applications such as thermal and acoustic insulations. The flexible elastomeric foams exhibit properties of Low thermal conductivity, flexible and easy to install, high resistance to moisture, retains its long term performance, wide temperature performance range and good fire performance. Thus rapid growth of the end user industries such as HVAC, automotive, electrical and electronics are projected to propel the demand for the flexible elastomeric foam over the forecasted period.
  • Even though the factors such as superior thermal and moisture resistance properties of flexible elastomeric foams, rapid growth of the end user industries as well as global increase in the  number of residential and non-residential constructions activities are driving the global flexible elastomeric foam market. The lack of awareness pertaining the benefits of the insulation and difficulty in the disposal of the flexible elastomeric foams are expected to hamper the market growth over the forecast period.

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Type Segment Analysis of the Flexible Elastomeric Foam Market

  • Natural Rubber/Latex
  • Nitrile Butadiene Rubber (NBR)/Polyvinyl Chloride (PVC)
  • Ethylene Propylene Diene Monomer (EPDM)
  • Chloroprene
  • Others

Due to unabated demand form the HVAC, automotive and the other end user industries the nitrile butadiene rubber (NBR)/polyvinyl chloride (PVC) emerged as the leader with USD 0.79 Billion revenue in 2017.

Function Segment Analysis of the Flexible Elastomeric Foam Market

  • Thermal Insulation
  • Acoustic Insulation

Due to growing demand for the effective insulation material for the applications such as solar piping, residential & commercial heating & ventilation piping, and AC and refrigeration piping, the thermal insulation segment led the global flexible elastomeric foam market with USD 1.24 Billion revenue in 2017. The flexible elastomeric foam provides excellent insulation against the heat loss and helps in reducing the energy consumption owing to its property for low thermal conductivity.

End User Industry Segment Analysis of the Flexible Elastomeric Foam Market

  • HVAC
  • Automotive
  • Transportation
  • Electrical & Electronics
  • Others

Factors such as growing emphasis on the energy efficiency and excellent low thermal conductivity property have led the flexible elastomeric foam to find an increasing acceptance in the HVAC industry. Thus HVAC emerged as the leading end user segment with USD 0.73 Billion revenue in 2017. However, the electrical and electronics segment is anticipated to witness the highest growth rate of 5.17% during the forecast period owing to the increasing use of flexible elastomeric foam in various consumer appliances such as refrigerators and air conditioners.

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Region Segment Analysis of the Flexible Elastomeric Foam Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia pacific region emerged as the largest market for the flexible elastomeric foam with a 37.29% share of market revenue in 2017. Growing per capita disposable income, improvement in the standards of living are driving the demand for the HVAC systems in the Asia Pacific region. Also, an increase in residential and non-residential construction activities are also generating a huge demand for efficient insulation materials. Owing to all these factors the Asia Pacific region is projected to grow at the highest CAGR of 6.82% over the forecast period. North America region also accounted for a considerable share of the global flexible elastomeric foam market, due to the robust demand from its well-developed automotive and HVAC manufacturing industry coupled with the growing emphasis on the energy conservation within the region. 

Competitive landscape and key vendors

  • Major players in the global flexible elastomeric foam market are Armacell International S.A., L'ISOLANTE K-FLEX, Kaimann GmbH, Aeroflex , Rogers Corporation, Hira Industries, Zotefoams, NMC SA, Anavid Insulation Products, Huamei Energy-saving Technology Group, Jinan Retek Industries, Rubberlite, Inc., ODE Insulation, Kingwell World Industries, Inc , Recaa Insulation Systems Sdn. Bhd., ERA Polymers, Merryweather Foam, Inc, Sekisui Plastics Co. Ltd., and among others.
  • Transportation sector is generating a robust demand for the flexible elastomeric foam. Thus to effectively cater to this demand Armacell International S.A. in 2015 launched the Armaflex Rail SD. It is a closed-cell insulation material with anti-microbial Microban technology protects pipes against energy losses and condensation, providing significant contribution to the high level of fire safety required in rail vehicles.
  • For instance, in 2018, Armacell acquired an Italian manufacturer Guarto SRL, a provider of acoustic insulation solutions. This acquisition helped Armacell to expand its advanced insulation and engineered foams product portfolio as well as supply to the demand for flexible elastomeric foam in European region.

About the report:

The global flexible elastomeric foam market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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