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17
Sep-2019
Elastomeric Foam Market Is Crucial To Your Business.
Elastomeric Foam Market has a decent growth pace in the market, which is driven by the demand for synthetic rubber, which is widely accepted in various applications and industries. The Elastomeric Foam Market is expected to reach a total of USD 1.80 Billion by 2023 with a 6.54 % CAGR.
Introduction:
Elastomeric foam has been used for insulation since the 1950s. It is the most widely used type of foam insulation on the market. It is used primarily in heating, ventilation and air conditioning (HVAC), plumbing and cooling systems to provide a barrier against moisture and vapor entering systems. Elastomeric foams are used to replace natural insulating materials, such as cork. Its manufacture does not require chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs) or fluorinated hydrocarbons (HFCs). This makes them suitable for use even in harsh environments. They also contain a very small amount of volatile organic compounds (VOCs) and are therefore safe for the environment. Advances in the manufacturing process have made elastomeric foams suitable for demanding applications requiring superior properties.
Elastomeric Foam Market: Industry Trends and Developments:
The elastomeric foam market is growing at a sustained pace due to the better insulating properties of elastomeric foams and the overall growth of the application segments of this product. The use of elastomeric foam is on the rise in HVAC systems. This can be attributed to the population growth and the stringent regulations that make the energy efficiency of air conditioning systems necessary. Government policies around the world are becoming more stringent in terms of energy efficiency. Therefore, this should be an opportunity for the growth of the elastomeric foam market during the forecast period. The relatively high cost of elastomeric foams over other insulation methods and their lack of understanding of the advantages they offer over conventional materials is slowing the growth of the elastomeric foam market.
An outlook of Flexible Elastomeric Foam:
- Elastomeric foams have been used for thermal insulation since the 1950s. Elastomeric foams are mainly used in air conditioning and refrigeration systems as an effective barrier against moisture and vapor penetration systems. Elastomeric foams are increasingly used to replace natural insulating materials, such as cork. In addition, the process for manufacturing the elastomeric foam does not use chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs) or hydrofluorocarbons (HFCs). It is therefore respectful of the environment.
- Increasing investments in research and development, along with advances in the manufacturing process, have made flexible elastomeric foams suitable for demanding applications such as thermal and acoustic insulation. Flexible elastomeric foams have properties of low thermal conductivity, flexibility and ease of installation, high resistance to moisture, maintain long-term performance, a wide range of temperature performance and good fire performance. As a result, the rapid growth of end-user industries, such as HVAC, automotive, electrical and electronics, is expected to stimulate demand for flexible elastomeric foam over the forecast period.
- Although factors such as the superior thermal and moisture resistance properties of flexible elastomeric foams, the rapid growth of end-user industries, as well as the overall increase in the number of residential and non-residential construction activities, The global market for flexible elastomeric foams is crucial. Lack of awareness of the benefits of insulation and the difficulty of eliminating flexible elastomeric foams is expected to hamper market growth over the forecast period.
Industry Regional Analysis:
Elastomeric Foam Market, by region, can be segmented in North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. The Asia-Pacific region is the world's largest elastomeric foam market and is expected to grow rapidly during the forecast period. North America and Europe are the second and third dominant market for elastomeric foam, respectively, and are expected to grow slowly during the forecast period.
Latin America, the Middle East and Africa are expected to be lucrative markets for elastomeric foams during the forecast period and to experience a rapid increase in the demand for the elastomeric foam market.
Key Stakeholders:
- Regional associations of manufacturers.
- Suppliers of natural and synthetic rubber.
- Traders, distributors and suppliers of elastomeric foam products.
- Government and regional organizations and research organizations.
WRITTEN BY: Karthik Thelakula
Karthik Thelakula is a Content Writer in Market Data Forecast, one of the world’s leading research and consulting for various business domains, individuals and corporate clients
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