The flexible elastomeric foam market is projected to grow at a CAGR of 4.72% between 2018 and 2023

NEW YORK, March 21, 2019 /PRNewswire/ -- The flexible elastomeric foam market is projected to grow at a CAGR of 4.72% between 2018 and 2023.

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The flexible elastomeric foams market is projected to grow from USD 2.2 billion in 2018 to USD 2.7 billion by 2023, at a CAGR of 4.72% between 2018 and 2023. The growing demand from end-use industry such as HVAC and automotive & transportation is expected to fuel the growth of the flexible elastomeric foams market. However, the lack of awareness about the benefits of insulation is expected to restrain the growth of the market during the forecast period.

Thermal insulation is the largest and fastest functional type segment of the flexible elastomeric foams market
Flexible elastomeric foams are segmented on the basis of various functions such as, thermal and acoustic.The demand for thermal insulation flexible elastomeric foams is driven as they significantly reduce energy consumption across a broad spectrum of applications such as in solar piping, residential & commercial heating & ventilation piping, and AC and refrigeration piping.

It is equally important to insulate materials from sound where acoustic insulation is needed.
It is always efficient in reducing energy consumption by properties such as low thermal conductivity, water vapor barrier, and keeping product environmentally friendly. So, this drives the demand for thermal insulating flexible elastomeric foams.

APAC is the largest market for the flexible elastomeric foams market
APAC is projected to be the fastest-growing market, in terms of both volume and value, during the forecast period.APAC is estimated to account for the largest share, in terms of both volume and value, of the overall market in 2018.

The market in the region is driven by the growing population and economic growth. Both residential and non-residential sectors are expected to grow in China and India during the forecast period, which, in turn, will drive the HVAC industry, thereby, increasing the demand for flexible elastomeric foam in this industry.

Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and subsegments.

Breakdown of Primary Interviews:
• By Company Type: Tier 1 – 58%, Tier 2 – 33%, and Tier 3 – 9%
• By Designation: C Level – 40%, D Level – 35%, and Others – 25%
• By Region: North America – 33%, Europe – 30%, APAC – 15%, South America- 14%, and the Middle East & Africa – 8%

Key companies profiled in this report are Armacell (Germany), L'ISOLANTE K-FLEX (Italy), Kaimann (Germany), Aeroflex (US), Rogers Corporation (US), and Hira Industries (Dubai).

Research Coverage:
The flexible elastomeric foams market has been segmented on the basis of type (NBR/PVC, EPDM, natural rubber, CR and others), function (thermal and acoustic), end-use industry (HVAC, automotive & transportation, and others), and region (North America, Europe, APAC, Middle East & Africa, and South America). The end-use industry and type segments are further analyzed for each country in the respective regions.

Reasons to buy the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on flexible elastomeric foams offered by top players in the flexible elastomeric foams market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the flexible elastomeric foam market.
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for flexible elastomeric foams across regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the flexible elastomeric foam market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the flexible elastomeric foam market.

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