As per the report published by Fior Markets ,the global flexible elastomeric foam market is expected to grow from USD 1,983.71 Million in 2017 to USD 2,911.82 Million by 2025, at a CAGR of 4.91% during the forecast period from 2018-2025. The Asia Pacific region emerged as the global leader in the demand for the flexible elastomeric foam with a 37.29% share of market revenue in 2017.
“Flexible Elastomeric FoamMarket by Type (Natural Rubber/Latex, Chloroprene, Others), Function,End User Industry, Regions”,and Global Forecast 2018-2025.
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Major players in the global flexible elastomeric foam market areArmacell International S.A., L’ISOLANTE K-FLEX, Kaimann GmbH, Aeroflex , Rogers Corporation, Hira Industries, Zotefoams, NMC SA, AnavidInsulation 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.
The type segment is divided into natural rubber/latex, nitrile butadiene rubber(NBR)/polyvinyl chloride (PVC), ethylene propylene diene monomer (EPDM), chloroprene and 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 a 39.92% share of market revenue in 2017.Function segment contains thermal insulation and 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 a 62.78% share of market revenue in 2017. End user industry is segmented into HVAC, automotive, transportation, electrical and electronics and 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 a 36.85% share of marketrevenue in 2017.
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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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