Elastomeric Foam Market Share

APAC Market Statistics

The Asia Pacific elastomeric foam market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. This can be owed to the fact that India and China, the two largest Asian economies, are expanding rapidly. Moreover, the region now has the largest global demand for air conditioning. For instance, the total demand for ACs in the Asia Pacific region exceeded over 70 million units in 2018. The rapid changes in the climate and increasing population in the region increase the need for HVAC systems in the region. Also, the increasing concern regarding greenhouse gases and rising solutions for growing carbon dioxide emissions. Additionally, the increasing automotive and construction sectors in the region owing to the increasing spending capacity of people with rising disposable income.

Frequently Asked Questions (FAQ)

Growing demand in various sectors such as HVAC and automotive, and the need for eco-friendly materials are driving the growth of the elastomeric foam market.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2033.

Environmental concerns and poor chemical compatibility in certain conditions are the challenges affecting market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are a Rogers Foam Corporation, Hira Industries LLC, Armacell International S.A., Zotefoams plc, L'ISOLANTE K-FLEX S.p.A., Rubberlite, Inc., NMC SA, Kaimann GmbH, Jacobs & Thompson Inc., Aeroflex USA, Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application and by region.

The HVAC segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Elastomeric Foam Market Share