The global elastomericfoam market size is projected to reach USD 4,462.1million by the end of2027. The presence of several large-scale companies will contribute to the
growth of the market in the coming years. According to a report published by
Fortune Business Insights, titled “ElastomericFoam Market Size, Share & Industry Analysis, By Function (Thermal
Insulation, Acoustic Insulation), By Type (EPDM, Nitrile Rubber (NBR), Others),
By Application (HVAC, Automotive & Transportation, Electrical &
Electronics, Others), and Regional Forecast, 2024-2032” the market was worthUSD 2,648.6 million and will exhibit a CAGR of 6.8% during the forecast period,2024-2032.
Elastomeric foam is widely used inthe electronics and electrical industry for a wide range of applications among
which insulations stands out as a primary use. The product possesses the
properties of rubber on the physical front, including ‘flexibility’ and
‘elasticity’. These properties make it suitable for specific or customized
applications wherein a large distance of wire is to be insulated without the
luxury of a straight line.
The massive investments in theresearch and development of efficient products will have a massive impact on
the growth of the overall market in the coming years. The presence of several
large scale companies will subsequently emerge in favor of growth of the
overall market in the foreseeable future. The increasing investments in product
R&D have enabled a wider application scope and subsequently cater to
consumer-specific applications, thus creating a massive growth platform for
companies in this sector.
Lack of Raw Material Supply duringthe Covid-19 Pandemic has Affected Production
The recent coronavirus outbreak hashad a massive impact on several economies across the globe. Due to the rapid
spread of the disease, several countries are looking to implement strict
measures with a view to controlling the spread of the disease. The efforts
taken to curb the spread of the disease have limited the growth of the
businesses across the world. Due to practices such as social distancing and
lockdowns, there has been a massive shortage of raw materials and resources
across the globe. This has affected the production of elastomeric foam across
the world. However, the efforts taken to resume industrial operations will
bring relief to the companies in this sector.
Increasing Number of Product Innovations will Contribute to MarketGrowth
Thereport encompasses several factors that have contributed to the growth of the
overall market in recent years. Among all factors, the increasing number
of product innovations has made the highest impact on the growth of the market.
The rising innovations are attributable to the increasing R&D investments
and evidently, the increasing global demand for the product has had a direct
impact on this. In February 2020, Zotefoams announced the launch of a new
line-up of supreme closed-cell foams. The company introduced the new Zotek, Zotek
N, and Zotek T products in its range of elastomeric foams. Given the increasing
product demand, the company will look to enhance its global presence and
subsequently establish a wider customer base. Increasing number of such product innovations will have a huge impact onthe growth of the overall market in the forthcoming years.
Asia Pacific to Emerge Dominant; IncreasingProduct Use in HVAC Systems to Aid Growth
The report analyzes the ongoing market trendsacross North America, Asia Pacific, Europe, the Middle East & Africa, and
Latin America. Among all regions, the market in Asia Pacific is projected to
emerge dominant in the coming years.
• ArmacellInternational SA (Munstar, Germany)
• HiraIndustries (Dubai, UAE)
• ZotefoamsPLC (London, UK)
• L’IsolanteK-Flex S.P.A (Roncello, Italy)
