Elastomeric Foam Insulation Market: Prevents the Transmission of Heat
Elastomeric foam insulation is a flexible, closed-cell foam based on nitrile or ethylene propylene diene monomer rubber.
Elastomeric foams have high resistance to the passage of water vapor; therefore, they do not generally require additional water-vapor barriers. High vapor resistance, and surface emissivity of rubber, allows elastomeric foams to prevent surface condensation formation with comparatively small thicknesses. Therefore, elastomeric foams are widely used on refrigeration and air-conditioning pipework.
These foams are used on heating and hot-water systems. The three main components used to manufacture elastomeric foam insulation include synthetic rubber blend, typically nitrile butadiene rubber or ethylene-propylene-diene monomer, polyvinyl chloride, and a chemical foaming agent.
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Key Drivers of Elastomeric Foam Insulation Market
Global elastomeric foam insulation market is driven by development in superior thermal performance insulation for high temperature applications and ultraviolet resistant foam insulation to protect against weather and mechanical abuse.
Elastomeric foam insulation products are lightweight and thus, reduces the overall weight of the structure. Moreover, increasing industrialization, rising miniaturization, and improving technologies are boosting the demand for insulation materials, thus creating opportunities for the elastomeric foam insulation market.
New high-performance materials have been developed in the past few years. These have proved to be useful in major application areas of the industrial and automotive sectors; however, economical pricing and superior properties have allowed elastomeric foam insulation materials to create their own niche.
The automotive sector and the construction industry are major contributors to the global elastomeric foam insulation market owing to the high demand from developing countries and the increase in foreign investment by companies in these geographies.
Building & Construction Segment to Offer Attractive Opportunities
Elastomeric foam insulation products are widely used in the building & construction industry, due to their lightweight nature, which helps reduce the overall weight of the structure.
Elastomeric foam insulation prevents the transmission of heat from exterior walls of buildings, which captures the heat energy from the sun
Elastomeric foam insulation is always efficient in reducing energy consumption as they possess properties such as low thermal conductivity, water vapor barrier, and keeping product environmentally friendly, this drives the demand for elastomeric foam insulation market in building & construction segment.
Availability to low cost substitutes to Hamper Market:
Several low cost alternatives are available for elastomeric foam insulation products such as ceramics, mineral wool, and glass wool among others, which has led to increased competition for elastomeric foam insulation, especially in the insulation market.
Further, the relatively lesser priced alternatives have led to their increased usage in the lower per capita income countries, further restricting the usage of elastomeric foam insulation.
However, the increasing applications of elastomeric foam insulation in the construction and healthcare industries have increased the demand. Premium prices restrict the market of elastomeric foam insulation when compared to ceramics in the smaller economies, although these markets are expected to show a high growth rate during the forecast period with rapidly increasing adoption and market penetration.
Asia Pacific expected to hold Major Share in the Global Elastomeric Foam Insulation Market
Geographically, the demand for elastomeric foam insulation can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
In terms of volume and value, Asia Pacific dominated the global market in 2018. The region is expected to continue to dominate the global market during the forecast period.
Rise in population, increase in disposable income of consumers, and implementation of less stringent regulations have enabled Asia Pacific to emerge as one of the fastest-growing regions for consumer electronics, automotive, and construction. The elastomeric foam insulation market in emerging economies such as India, Singapore, and ASEAN countries in Asia Pacific has been expanding over the past few years.
Rising FDI investment in automotive and construction industry in developing economies of Asia Pacific are some of the other factors likely to fuel the market in the region during the forecast period.
The elastomeric foam insulation market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period, followed by the North America and Europe. This expansion can be attributed to increasing investments in construction and automotive industries in the region.
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Key Players Operating in the Elastomeric Foam Insulation Market:
Companies operating in the elastomeric foam insulation market are investing to expand their product portfolios and improve their distribution networks. They adopt strategies such as mergers & acquisitions, new product developments, joint ventures, and expansions to cater to the increasing demand for elastomeric foam insulation from different regions. For instance, In August 2018, Armacell acquired Guarto SRL, an Italian manufacturer of acoustic insulation solutions. This helps Armacell to expand advanced insulation and engineered foams product portfolio and cater to the demand for flexible elastomeric foam in South Europe. In the same year, Armacell launched its new product, AP Armaflex, specially designed for grooved fittings. This pre-fabricated product offers exceptional time and saves labor.
