Elastomeric Foam Market By Type, By Geography — Global Industry Analysis, Growth, Share, Size, Trends, And Forecast 2019–2026

The Global Elastomeric Foam Market is set to reach USD 3.2 Billion by 2024, growing at a CAGR of 6.2% over forecast period 2020–2026. Growing demand in HVAC, heating & plumbing industry and better insulation property of elastomeric foam are the key factors escalating the market growth.

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Elastomeric foams are energy saving products that result in preventing condensation and when used within particular temperatures, it prevents heat loss upto a high range. It offers, water absorption and permeability properties. However, under extreme conditions for high humidity and high temperature, it works with enhanced effectiveness. Elastomeric material exhibits plastic or rubber like features with a diverse portfolio. The principal property of elastomers is the recovery after elastic deformation post compression or tension. Characterized by toughness, durability and stress bearing features, elastomers are likely to offer better abrasion resistance over steel. Elastomeric foams are thus used for applications such as gaskets, diaphragms and chute lining. Extended uses include insulation, sealing, cushioning and filtration. Elastomeric foam have another insulation aspect in form of tubes. As the tubes have a good dimensional stability and offer a high protection countering thermal loss and condensation, it is gaining a high user preference. For instance, aerofoam flexible elastomeric foam come with a wide range of diameter and thickness that matches with the regular size of the pipes.

At present, the popularity of elastomeric foam is growing since it reduces the need for sort of vapour barrier to avoid any transference of moisture. The commercial availability pertains to sheets, rolls and tubes and turn out to be user-friendly alternatives as it can be molded and bonded reliably with varied applications. Elastomeric foams being easy to install and leads with a high performance without surrendering to extreme conditions. Hence, the commercial demand for elastomeric foams have doubled in the last three years.

As foam is a lightweight that is typically used for insulation and cushioning as the cellular materials tend to be low density to enable air movement via the cell structure. Additionally, the high density foam products have a dense concentration of cells while medium density foams result in low concentration of cells. However, the wide availability of elastomeric materials, the selection of best material stands critical to fulfil the end-user application.

Elastomeric Foam Market Trends, Drivers and Opportunities:

Elastomeric foam market is significantly driven by rise in demand for HVAC applications due to increase in population followed by urbanization. In addition, government policies are creating new opportunities all across the globe. Stringent norms and regulations pertaining to environment is likely to result in a developed market growth. However, significant costs of elastomeric foams in comparison with conventional methods is restraining the market growth throughout the forecast period. On contrary, lack of awareness in the population is restraining the market growth all over in the forecast time span.