The 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.
The size of the Market was around USD 1.31 Billion by revenue, at the end of 2018. It is expected to grow at a CAGR of 6.54 % to reach close to USD 1.80 Billion in the forecast, as mentioned earlier period.
Elastomeric Foam Market Drivers and Restraints:
The market is mainly driven by the demand for synthetic rubber, which is widely accepted in various applications and industries. Also, the rising demand from the HVAC industry helps in the growth of the Elastomeric Foam market.
However, the costs associated may restrain the market in the forecast period. Also, the market concentration in regions like the Asia Pacific restrains the market expansion into regions like the Middle East and Africa.
Elastomeric Foam Market Segmentation Analysis:
By Type
Based on the type of elastomer foam, the market is segmented into Natural Rubber/Latex, Synthetic Rubber, and Others. Among the mentioned types, the synthetic rubber segment is the largest and is expected to have the fastest growth rate in the elastomeric foam market in the forecast period. The growth is mainly attributed to its properties, which makes it usable for various applications. NBR is the most commonly used synthetic rubber in the market due to a relatively lower cost than others and its superior properties.
By End-Use Industry
Based on the end-use industries, the elastomeric foam market is categorized into Electrical & Electronics, Automotive, HVAC, and Others. Of the mentioned industries, the HVAC is the largest segment and is expected to have the fastest growth rate in the forecast period. The growth is mainly attributed to the increase in the population and strict regulations for energy efficiency which drives the HVAC systems, which helps in the rise in the use of elastomeric foam in making newer HVAC systems.
Elastomeric Foam Market Geographical Analysis:
By geography, the market is segmented as Europe, Asia Pacific, Latin America, North America, and Middle-East & Africa. The Asia Pacific region holds the largest share of the Elastomeric Foam Market in the year of 2018, in terms of value and volume. The regional advantages in this region, like the ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region's position in the market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional market. These reasons make this region the fastest growing regional market in the proposed forecast period.
North America is next in the lead of the Elastomeric Foam Market by both value and bulk, as of 2018. The situation of many key market players in this region with well-established infrastructure is the main reason for its market position. This region is only in the second-fastest growing regional market on a scale, following the Asia Pacific.
Europe is next in the lead of the market in the year 2018. The presence of a considerable customer base in and around this region is helping in the growth of the Elastomeric Foam Market in this region. This region is the third fastest-growing region in the market in the projected forecast period.
On the other hand, the Middle East & Africa and Latin America regions, being in the slow-developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.
Elastomeric Foam Market Key Market Players:
By the end of 2018 NMC SA (Belgium), Zotefoams (UK), Hira Industries (UAE), Kaimann (Germany), L'ISOLANTE K-FLEX (Italy), Armacell (Germany), Jinan Retek Industries (China), Anavid Insulation Products (Israel), Aeroflex USA, (US), and Huamei Group (China) are the leading shareholders of the market for Elastomeric Foam Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Elastomeric Foam Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Natural Rubber/Latex
5.1.3 Synthetic Rubber
5.1.4 Others
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 End-Use Industry
5.2.1 Introduction
5.2.2 HVAC
5.2.3 Automotive
5.2.4 Electrical & Electronics
5.2.5 Others
5.2.6 Y-o-Y Growth Analysis, By End-use Industry
5.2.7 Market Attractiveness Analysis, By End-use Industry
5.2.8 Market Share Analysis, By End-use Industry
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By End-use Industry
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By End-use Industry
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By End-use Industry
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 NMC SA
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Zotefoams
8.3 Hira Industries
8.4 Kaimann
8.5 L'ISOLANTE K-FLEX
8.6 Armacell
8.7 Jinan Retek Industries
8.8 Anavid Insulation Products
8.9 Aeroflex USA
8.10 Huamei Group
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
