Elastomeric Foam Market Trends

Growth Drivers

• Increasing Use in Automotive Industry Owing to the Heat Resistance Property of the EPDM – Ethylene propylene diene monomer (EPDM) and nitrile butadiene rubber are often used as insulation in the automotive industry. EPDM is UV-resistant and owing to its exceptional resistance to heat and UV exposure, many automotive components (straps, tubing, weather stripping, and windshield wipers) are made from this material. Global sales of automobiles increased from 62 million units in 2020 to approximately 67 million in 2021.
• Widespread Use of HVAC systems in Air Conditioning As It Reduces Energy Consumption – The use of elastomeric foam pipes is widespread and growing, as 88% of American households use air conditioning, according to the 2020 Residential Energy Consumption Survey by the U.S. Energy Information Administration. The primary AC system used by two-thirds of American households is a central air conditioner or heat pump.
• Growing Use of Elastomeric Foam in Plumbing Owing to its Capacity to Withstand Water Temperature – Elastomeric foams are required in plumbing, owing to their water-resistant and temperature-preserving capabilities. The plumbing industry is currently employing over 469,000 people and growing at a rate of 2%, as per the U.S. Bureau of Labor Statistics.
• Rising Use in Electricals with Increasing Demand for Home Appliances and Electronics – Elastomeric foams are often used in electrical compartments and enclosures. Their doors are sealed against the elements by means of mechanical components called enclosure gaskets. As per the U.S. Bureau of Labor Statistics, the workforce in electrical equipment, appliance, and component manufacturing grew from 380,000 in September 2020 to 414,000 in September 2022 in the United States.
• Need for Eco-Friendly Materials with Rising Concern Among People About Environment – Flame retardants have been linked to neurological harm, hormonal disruption, and cancer. One of the most serious risks of some flame retardants is that they accumulate, causing chronic health problems such as toxic chemicals. Newer manufacturing and research techniques have ruled out the use of such chemicals to prevent harm to humans and the environment. Chemicals such as Hexabromocyclododecane (HBCD), Organophosphate flame retardants (OPFRs), Tetrabromobisphenol A (TBBPA), Polybrominated diphenyl ethers (PBDE’s), and Brominated flame retardants are under constant study to further assess the damage they are causing to the environment.

Challenges

• Environmental Concerns Regarding Proper Manufacture and Disposal
• The lack of disability options and lack of awareness among people is inhibiting the growth of the market owing to the emission of harmful gases and smoke that cause health hazards. Burning is one of the disposable options which release poisonous gases into the environment with an unpleasant odor.
• Poor Chemical Compatibility in Certain Conditions and with Certain Chemicals
• High Competition Among Major Market Players