Elastomeric Foam Market - Forecasts from 2022 to 2027

The elastomeric foam market was valued at US$3.294 billion in 2020 and is expected to grow at a CAGR of 6.17% over the forecast period to reach a total market size of US$5.008 billion by 2027.



Elastomeric foam insulation is a closed-cell synthetic rubber that is available in factory-made tubes, sheets, or rolls. The exterior edge is made up of a smooth surface, or "skin," that acts as a vapour retarder.

Elastomeric foam is utilised as pipe insulation because it is available in a variety of thicknesses and forms and can be readily handled to fit securely around a broad range of equipment, from big commercial chillers to home pipes. The growing demand for HVAC systems from industrial and residential applications, due to constantly changing weather conditions, pollution, pollutants, and humidity, drives the market growth. Closed-cell foam is also best suited for refrigeration applications. It is frequently utilised in the heating and plumbing industries due to its ease of installation and fire-resistant characteristics.  Furthermore, due to their light weight, they are used in the construction industry to reduce total building weight. The development of environmentally friendly products is a prominent trend. Consumer knowledge of the disposability of elastomers and the emissions of gases during the production process has considerably raised the demand for eco-friendly and sustainable insulation. In addition, CFCs, HFCs, and other hazardous gases have been phased out of the production process. The newly created environmentally friendly elastomeric foams are very durable, up to 40% lighter in weight than rubber sponges, do not absorb water, and are simply manufactured. Consumer tastes are moving toward product adoption as a result of these improved features and eco-friendliness.

Asia-Pacific is expected to have the highest elastomeric foam market share. The high demand for HVAC systems from the industrial sector to manage temperature and ventilation will drive up demand for elastomeric foam. Thermal insulation is one of the most frequently utilised strategies and is used in a variety of sectors to assist in maintaining the correct environment required for industrial operations. Proper ventilation, temperature control, and air cleansing, for instance, are necessary for the chemical storage and production industries to ensure a healthy and safe workplace for workers. The rising demand for HVAC systems in this region will be fuelled by the increasing demand from industrial businesses and storage facilities.

The ease of obtaining raw materials in countries such as China, India, and other Southeast Asian countries is projected to boost the market’s growth. Low labour costs in various Asia-Pacific nations will be one of the major motivators for manufacturers to develop new manufacturing facilities and business units.

Growth Factors

There is increasing demand for HVAC systems from end-use sectors.

HVAC systems are utilised to keep the interior atmosphere of infrastructure, cars, and residential and commercial buildings in proper condition. They entail the use of heating, ventilation, and air conditioning to maintain the temperature, airflow, air quality, and ventilation of the space. Increasing demand from various application areas such as hospitals, residential facilities, apartments, and others where a safe and healthy environment is regulated based on weather conditions such as humidity, temperature, and outdoor air availability is expected to drive the elastomeric foam market growth. The Occupational Safety and Health Administration's (OSHA) stringent standards governing worker safety and health would increase demand for HVAC systems, further propelling this industry. HVAC systems are frequently utilised to maintain a specific atmosphere required for product manufacture or storage. For example, OSHA has established specific criteria for indoor air quality  (IAQ). Furthermore, HVAC systems are available in a variety of forms and kinds, which contribute to the aesthetic value of a home or business space. The growing need for HVAC systems in the automobile industry to maintain indoor comfort, heat, and ventilation in cars is considerably contributing to global demand.

Restraints:

Disposability and Lack of Awareness among Consumers:

Foams are produced from a variety of elastomers, including chloroprene, butadiene, isoprene, acrylonitrile, Buna N, butyl rubbers, and others. One of the problems impeding market expansion is disposability. When burned, a few elastomers emit poisonous and hazardous gases, have a sooty flame, and have an unpleasant odor. Furthermore, owing to a lack of exposure to technical developments in material science, the usage of conventional goods such as cotton, natural latex, coir, and organic wool instead of elastomeric foam is projected to reduce market demand.

The impact of COVID-19 on the Elastomeric Foam Market:

COVID-19 had a negative impact on the elastomeric foam market. As a preventive step, strict lockdowns were enforced, resulting in a temporary halt in all commercial and industrial activities, including the manufacture of polymers, elastomers, and elastomeric goods. Due to the serious circumstances that occurred due to the COVID-19 outbreak, several companies with production facilities in China were temporarily shut down. For instance, Zhejiang Weitai Rubber Company postponed the restart of its 100,000 t/year Styrene-Butadiene Rubber (SBR) facility in Zhejiang until February 2021. Furthermore, owing to the total closure of the industrial and commercial processes that utilise these elastomers as raw materials, demand for raw materials such as SBR, polypropylene, NBR, acrylonitrile, and others was drastically reduced during the lockdown.

Key Developments:

• Aptar announced an agreement with Weihai Hengyu Medical Products to add elastomeric and plastic component manufacturing capabilities in China for injectable drug delivery in July 2021.
• Armacell, a global pioneer in flexible foam for the equipment insulation market and a leading producer of customised foams, announced the commercial market introduction of ArmaFlex Ultra with FlameDefense technology in July 2020, the first UL-certified flexible elastomeric foam insulation.

Segmentation:

By Type

• Natural Rubber/Latex
• Ethylene Propylene Dien Monomer (EPDM)
• Nitrile Butadiene Rubber (NBR)

By Application

• Air Conditioning
• Refrigeration
• Water Pipes
• Liquid gasses
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• France
• Germany
• Italy
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• Thailand
• Taiwan
• Indonesia
• Others