Summary

The global flexible elastomeric foam market is projected to grow from USD 2.8 billion in 2024 to USD 3.6 billion by 2029, at a CAGR of 4.8% during the forecast period. Flexible elastomeric foam is a closed cell elastomeric foam that is used for insulating plumbing, ductwork, chilled water, air conditioning, and refrigeration systems. These foams provide cushioning, and insulation in wide variety of industries including automotive & transportation, HVAC, refrigeration systems, and solar installations.
“Acoustic Insulation segment, by function, is estimated to account for the second largest share during the forecast period”
The acoustic insulation segment is projected to secure the second-largest share in the forecast period, primarily fueled by the rising demand for soundproofing solutions across multiple sectors including industrial, residential and commercial environments. Flexible elastomeric foams offer qualities like sound absorption and vibration dampening due to which the acoustic insulation segment, by function, is expected to grow along with the growth in population and urbanization.

“By foam type, Ethylene-Propylene Dine Monomer (EPDM) segment is accounted for the second largest share during the forecast period”
The Ethylene-Propylene Dine Monomer (EPDM) segment, by type, is projected to secure the second-largest share in the forecast period. The EPDM segment’s growth is fueled by the rise in the demand for energy efficient insulating material. The EPDM type of flexible elastomeric foams not only offer great temperature resistance, but they also offer great chemical resistance due to which their demand is increasing in multiple industries including construction industry, marine industry, as well as transportation and automotive industry.

“Automotive & Transportation segment, by end-use industry, is estimated to account for the second largest share during the forecast period”
The automotive & transportation segment, by end-use industry, is projected to secure the second-largest share in the forecast period. Flexible elastomeric foams are used in the automotive and transportation industry for multiple applications including gasketing, noise dampening, weather stripping, and cushioning. The growing production of automobiles, especially in developing nations is expected to boost the market for flexible elastomeric foam in the automotive and transportation industry.
“North America region is estimated to account for the second largest share during the forecast period”
North America is expected to be the second-largest market for flexible elastomeric foam. The US is among the key players in the region, which is driven by the rise in awareness levels regarding the importance of thermal and acoustic insulation. Furthermore, the market position of North America is further strengthened by the existence of major players in the region, such as ARMACELL and Aeroflex USA, Inc.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: C-level– 25%, Director Level– 30%, and Others – 45%
• By Region: North America – 30%, Europe – 20%, Asia Pacific – 40%, Middle East & Africa – 7%, South America – 3%

ARMACELL (Luxembourg), Hira Industries LLC (UAE), L'ISOLANTE K-FLEX S.p.A. (Italy), JINAN RETEK INDUSTRIES INC(JINAN BESTAR INC) (China), and Boyd (US) are some of the major players operating in the flexible elastomeric foam market. These players have adopted strategies such as acquisitions, expansions, and partnerships, and expansions in order to increase their market share business revenue.
Research Coverage:
The report defines, segments, and projects the flexible elastomeric foam market based on foam type, function, end-use industry, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, flexible elastomeric foam manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, joint ventures, agreements, and acquisitions, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the flexible elastomeric foam market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers (Superior properties of flexible elastomeric foams, Growth in the end-use industries of flexible elastomeric foams), restraints (Lack of awareness about the benefits of insulation, Competition from Alternative Materials), opportunities (Stringent government regulations encouraging energy efficiency, Growing demand of insulation for energy-efficiency), and challenges (Difficulty in the disposal of flexible elastomeric foams) influencing the growth of the flexible elastomeric foam market.

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the flexible elastomeric foam market.

• Market Development: Comprehensive information about lucrative markets – the report analyses the flexible elastomeric foam market across varied regions.

• Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the flexible elastomeric foam market.

• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as ARMACELL (Luxembourg), Hira Industries LLC (UAE), L'ISOLANTE K-FLEX S.p.A. (Italy), JINAN RETEK INDUSTRIES INC(JINAN BESTAR INC) (China), and Boyd (US), KAIMANN (Germany), Huamei Energy-saving Technology Group Co., Ltd. (China), Aeroflex USA, Inc. (US), NMC sa (Belgium), ISIDEM INSULATION (Turkey), and others in the flexible elastomeric foam market.

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Table of Contents

1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 COMPETITIVE INTELLIGENCE 22
1.3 MARKET DEFINITION 23
1.3.1 INCLUSIONS & EXCLUSIONS 23
1.4 MARKET SCOPE 24
1.4.1 MARKET SEGMENTATION 24
1.4.2 YEARS CONSIDERED 25
1.4.3 CURRENCY CONSIDERED 25
1.4.4 UNITS CONSIDERED 25
1.5 RESEARCH LIMITATIONS 25
1.6 STAKEHOLDERS 26
1.7 SUMMARY OF CHANGES 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
2.1.1 SECONDARY DATA 28
2.1.1.1 Key data from secondary sources 28
2.1.2 PRIMARY DATA 28
2.1.2.1 Key data from primary sources 29
2.1.2.2 Breakdown of interviews with experts 29
2.2 MATRIX CONSIDERED FOR DEMAND SIDE 30
2.3 MARKET SIZE ESTIMATION 30
2.3.1 BOTTOM-UP APPROACH 31
2.3.2 TOP-DOWN APPROACH 31
2.3.2.1 Calculations for supply-side analysis 33
2.4 GROWTH FORECAST 33
2.5 DATA TRIANGULATION 34
2.6 IMPACT OF RECESSION 34
2.6.1 KEY ASSUMPTIONS WHILE CALCULATING DEMAND-SIDE MARKET SIZE 35
2.6.2 RESEARCH LIMITATIONS 35
2.6.3 RISK ANALYSIS 35
3 EXECUTIVE SUMMARY 36
4 PREMIUM INSIGHTS 40
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FLEXIBLE ELASTOMERIC FOAM MARKET 40
4.2 FLEXIBLE ELASTOMERIC FOAM MARKET, BY REGION 40
5 MARKET OVERVIEW 41
5.1 INTRODUCTION 41
5.2 MARKET DYNAMICS 41
5.2.1 DRIVERS 42
5.2.1.1 Superior properties of flexible elastomeric foams 42
5.2.1.2 Growth of several end-use industries 42
5.2.2 RESTRAINTS 44
5.2.2.1 Lack of awareness of benefits of insulation 44
5.2.2.2 Competition from alternative materials 44
5.2.3 OPPORTUNITIES 45
5.2.3.1 Growing demand for insulation for energy efficiency 45
5.2.3.2 Stringent government regulations encouraging energy efficiency 45
5.2.4 CHALLENGES 45
5.2.4.1 Difficulty in disposal 45
6 INDUSTRY TRENDS 46
6.1 SUPPLY CHAIN 46
6.2 ECOSYSTEM ANALYSIS 46
6.3 PORTER’S FIVE FORCES ANALYSIS 48
6.3.1 BARGAINING POWER OF SUPPLIERS 49
6.3.2 BARGAINING POWER OF BUYERS 49
6.3.3 THREAT OF NEW ENTRANTS 49
6.3.4 THREAT OF SUBSTITUTES 50
6.3.5 INTENSITY OF COMPETITIVE RIVALRY 50
6.4 KEY STAKEHOLDERS AND BUYING CRITERIA 51
6.4.1 KEY STAKEHOLDERS IN BUYING PROCESS 51
6.4.2 BUYING CRITERIA 51
6.5 PRICING ANALYSIS 52
6.5.1 AVERAGE SELLING PRICE TREND OF FLEXIBLE ELASTOMERIC FOAM,
BY REGION, 2020–2023 52
6.5.2 AVERAGE SELLING PRICE TREND OF FLEXIBLE ELASTOMERIC FOAM,
BY NR AND NBR, 2023 53
6.5.3 AVERAGE SELLING PRICE TREND OF FLEXIBLE ELASTOMERIC FOAM,
BY KEY PLAYER, 2023 54
6.6 TARIFF AND REGULATORY LANDSCAPE 54
6.6.1 TARIFF DATA 54
6.6.2 REGULATORY LANDSCAPE 55
6.6.2.1 Regulatory bodies, government agencies, and other organizations 55
6.7 KEY CONFERENCES AND EVENTS, 2024–2025 56
6.8 PATENT ANALYSIS 57
6.8.1 METHODOLOGY 57
6.8.2 MAJOR PATENTS 58
6.9 TECHNOLOGY ANALYSIS 59
6.9.1 KEY TECHNOLOGIES 59
6.9.1.1 Bio-based foam 59
6.9.2 ADJACENT TECHNOLOGIES 59
6.9.2.1 Rigid polyurethane foam 59
6.10 TRADE ANALYSIS 60
6.10.1 IMPORT DATA (HS CODE 4002) 60
6.10.2 EXPORT DATA (HS CODE 4002) 60
6.11 CASE STUDY ANALYSIS 61
6.11.1 EMPIRE STATE BUILDING NEW YORK CITY, NY (US) 61
6.11.2 RELIABLE CONDENSATION CONTROL AND LONG-TERM ENERGY EFFICIENCY 61
6.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 62
6.13 IMPACT OF GENERATIVE AI ON FLEXIBLE ELASTOMERIC FOAM MARKET 62
6.13.1 INTRODUCTION 62
6.14 OVERVIEW OF IMPACT OF GENERATIVE AI 63
6.14.1 MATERIAL DESIGN AND DEVELOPMENT 63
6.14.2 MANUFACTURING PROCESS 63
6.14.3 QUALITY CONTROL AND TESTING 63
7 FLEXIBLE ELASTOMERIC FOAM MARKET, BY TYPE 64
7.1 INTRODUCTION 65
7.2 NATURAL RUBBER 66
7.2.1 HIGH RESILIENCE AND RESISTANCE TO COMPRESSION SET PROPERTY 66
7.3 NITRILE BUTADIENE RUBBER/POLYVINYL CHLORIDE (NBR/PVC) 67
7.3.1 HIGH TENSILE STRENGTH AND MORE DEMAND FOR BLEND 67
7.4 ETHYLENE PROPYLENE DINE MONOMER (EPDM) 68
7.4.1 INCREASING DEMAND FOR EPDM IN AUTOMOTIVE &
TRANSPORTATION INDUSTRY 68
7.5 CHLOROPRENE (CR) 69
7.5.1 GROWING DEMAND DUE TO OZONE RESISTANCE PROPERTY 69
7.6 OTHER TYPES 70
8 FLEXIBLE ELASTOMERIC FOAMS MARKET, BY FUNCTION 72
8.1 INTRODUCTION 73
8.2 THERMAL INSULATION 74
8.2.1 GROWING USE DUE TO LOW THERMAL CONDUCTIVITY, WATER VAPOR BARRIER PROPERTIES, AND FIRE RESISTANCE 74
8.3 ACOUSTIC INSULATION 75
8.3.1 HIGH DEMAND FOR ACOUSTIC INSULATION IN CONSTRUCTION INDUSTRY 75

9 FLEXIBLE ELASTOMERIC FOAM MARKET, BY END-USE INDUSTRY 76
9.1 INTRODUCTION 77
9.2 HVAC 78
9.2.1 AIR CONDITIONERS 78
9.2.2 AIR DUCTS 78
9.2.3 WATER CHILLERS 79
9.2.4 OTHER END-USE INDUSTRIES 79
9.3 AUTOMOTIVE & TRANSPORTATION 80
9.3.1 GASKETING 80
9.3.2 NOISE DAMPENING 80
9.3.3 WEATHER STRIPPING 80
9.3.4 OTHERS 80
9.4 SOLAR INSTALLATIONS 81
9.4.1 PIPE INSULATION 81
9.5 REFRIGERATION SYSTEMS 82
9.5.1 CONTROL MOISTURE LEVEL 82
9.5.2 HOT PIPE INSULATION 83
9.5.3 CHILLED PIPE INSULATION 83
9.6 OTHER END-USE INDUSTRIES 84
10 FLEXIBLE ELASTOMERIC FOAM MARKET, BY REGION 85
10.1 INTRODUCTION 86
10.2 NORTH AMERICA 88
10.2.1 US 91
10.2.1.1 Stringent government regulations and rising consumer awareness
of energy efficiency 91
10.2.2 CANADA 92
10.2.2.1 Rising awareness of energy-efficient buildings and increasing construction spending 92
10.2.3 MEXICO 93
10.2.3.1 Government collaboration with private sector infrastructure
projects driving construction industry 93
10.3 EUROPE 94
10.3.1 GERMANY 97
10.3.1.1 Presence of well-established automotive manufacturers 97
10.3.2 UK 98
10.3.2.1 Government regulations to enhance building energy consumption 98
10.3.3 FRANCE 99
10.3.3.1 Steadily growing construction industry requiring HVAC equipment 99
10.3.4 ITALY 100
10.3.4.1 Growing automotive sales 100

10.3.5 RUSSIA 101
10.3.5.1 Increasing spending in construction industry 101
10.3.6 SPAIN 102
10.3.6.1 Increasing number of automobile production plants 102
10.3.7 TURKEY 103
10.3.7.1 Rising demand for air conditioners 103
10.3.8 REST OF EUROPE 104
10.4 ASIA PACIFIC 105
10.4.1 CHINA 108
10.4.1.1 Growing demand in HVAC industry 108
10.4.2 JAPAN 110
10.4.2.1 Introduction of energy efficiency standards for new large buildings 110
10.4.3 INDIA 111
10.4.3.1 Growing demand due to government’s increasing construction spending 111
10.4.4 SOUTH KOREA 112
10.4.4.1 Increasing demand due to development of green buildings 112
10.4.5 INDONESIA 113
10.4.5.1 Rising population boosting market 113
10.4.6 THAILAND 114
10.4.6.1 One of the major automotive manufacturing hubs 114
10.4.7 TAIWAN 115
10.4.7.1 Rapidly growing construction sector 115
10.4.8 VIETNAM 116
10.4.8.1 Consistent shift toward energy efficiency 116
10.4.9 REST OF ASIA PACIFIC 117
10.5 MIDDLE EAST AND AFRICA 118
10.5.1 SAUDI ARABIA 120
10.5.1.1 Stringent energy efficiency regulations 120
10.5.2 SOUTH AFRICA 121
10.5.2.1 Growing infrastructural development activity 121
10.5.3 REST OF MIDDLE EAST & AFRICA 122
10.6 SOUTH AMERICA 123
10.6.1 BRAZIL 126
10.6.1.1 Rapid development of construction industry 126
10.6.2 ARGENTINA 127
10.6.2.1 Gradual recovery of country’s economic condition 127
10.6.3 REST OF SOUTH AMERICA 128

11 COMPETITIVE LANDSCAPE 129
11.1 INTRODUCTIONS 129
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN (2018–2024) 129
11.2.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY MARKET PLAYERS (2018–2024) 129
11.3 REVENUE ANALYSIS, 2019–2023 133
11.4 REVENUE ANALYSIS OF TOP 5 PLAYERS 133
11.5 MARKET SHARE ANALYSIS 133
11.5.1 MARKET SHARE OF KEY PLAYERS 133
11.6 BRAND/PRODUCT COMPARISON 136
11.6.1 HT/ARMAFLEX S 137
11.6.2 AEROFOAM NBR 137
11.6.3 K-FLEX ECO ALU NET 137
11.6.4 AIR CONDITIONER INSULATION SHEET 137
11.6.5 EPDM FOAM 137
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 137
11.7.1 STARS 137
11.7.2 EMERGING LEADERS 137
11.7.3 PERVASIVE PLAYERS 138
11.7.4 PARTICIPANTS 138
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 139
11.7.6 FUNCTION FOOTPRINT 139
11.7.7 END-USE INDUSTRY FOOTPRINT 140
11.7.8 REGION FOOTPRINT 141
11.8 COMPANY EVALUATION MATRIX: STARTUP/SMES, 2023 142
11.8.1 PROGRESSIVE COMPANIES 142
11.8.2 RESPONSIVE COMPANIES 142
11.8.3 DYNAMIC COMPANIES 142
11.8.4 STARTING BLOCKS 142
11.9 COMPETITIVE SCENARIO AND TRENDS 144
11.9.1 PRODUCT LAUNCHES 144
11.9.2 DEALS 145
11.9.3 EXPANSIONS 145
12 COMPANY PROFILES 146
12.1 MAJOR PLAYERS 146
12.1.1 ARMACELL 146
12.1.1.1 Business overview 146
12.1.1.2 Products/Solutions/Services offered 147
12.1.1.3 Recent developments 151
12.1.1.3.1 Deals 151

12.1.1.4 MnM view 152
12.1.1.4.1 Key strengths 152
12.1.1.4.2 Strategic choices 152
12.1.1.4.3 Weaknesses and competitive threats 152
12.1.2 HIRA INDUSTRIES LLC 153
12.1.2.1 Business overview 153
12.1.2.2 Products/Solutions/Services offered 153
12.1.2.3 MnM view 154
12.1.2.3.1 Key strengths 154
12.1.2.3.2 Strategic choices 154
12.1.2.3.3 Weaknesses and competitive threats 154
12.1.3 L'ISOLANTE K-FLEX S.P.A. 155
12.1.3.1 Business overview 155
12.1.3.2 Products/Solutions/Services offered 155
12.1.3.3 Recent developments 157
12.1.3.3.1 Expansions 157
12.1.3.4 MnM view 158
12.1.3.4.1 Key strengths 158
12.1.3.4.2 Strategic choices 158
12.1.3.4.3 Weaknesses and competitive threats 158
12.1.4 JINAN RETEK INDUSTRIES INC (JINAN BESTAR INC) 159
12.1.4.1 Business overview 159
12.1.4.2 Products/Solutions/Services offered 159
12.1.4.3 MnM view 161
12.1.4.3.1 Key strengths 161
12.1.4.3.2 Strategic choices 161
12.1.4.3.3 Weaknesses and competitive threats 161
12.1.5 BOYD 162
12.1.5.1 Business overview 162
12.1.5.2 Products/Solutions/Services offered 162
12.1.5.3 Recent developments 163
12.1.5.3.1 Deals 163
12.1.5.3.2 Expansions 163
12.1.5.4 MnM view 164
12.1.5.4.1 Key strengths 164
12.1.5.4.2 Strategic choices 164
12.1.5.4.3 Weaknesses and competitive threats 164
12.1.6 KAIMANN 165
12.1.6.1 Business overview 165
12.1.6.2 Products/Solutions/Services offered 165
12.1.6.3 Recent developments 167
12.1.6.3.1 Product launches 167
12.1.7 HUAMEI ENERGY-SAVING TECHNOLOGY GROUP CO., LTD. 168
12.1.7.1 Business overview 168
12.1.7.2 Products/Solutions/Services offered 168
12.1.8 AEROFLEX USA, INC. 169
12.1.8.1 Business overview 169
12.1.8.2 Products/Solutions/Services offered 169
12.1.8.3 Recent developments 171
12.1.8.3.1 Product Launches 171
12.1.9 NMC SA 172
12.1.9.1 Business overview 172
12.1.9.2 Products/Solutions/Services offered 172
12.1.10 ISIDEM INSULATION 174
12.1.10.1 Business overview 174
12.1.10.2 Products/Solutions/Services offered 174
12.1.10.3 Recent developments 175
12.1.10.3.1 Expansions 175
12.1.11 ODE YALITIM A.S. 176
12.1.11.1 Business overview 176
12.1.11.2 Products/Solutions/Services offered 176
12.1.11.3 Recent developments 177
12.1.11.3.1 Product launches 177
12.1.11.3.2 Deals 177
12.1.12 ERA POLYMERS PTY LTD 178
12.1.12.1 Business overview 178
12.1.12.2 Products/Solutions/Services offered 178
12.1.13 MONMOUTH RUBBER & PLASTICS CORP. 179
12.1.13.1 Business overview 179
12.1.13.2 Products/Solutions/Services offered 179
12.2 OTHER KEY PLAYERS 180
12.2.1 KINGWELL WORLD INDUSTRIES, INC. 180
12.2.2 RECAA INSULATION SYSTEMS SDN. BHD. 181
12.2.3 CHINA IKING INDUSTRIAL GROUP CO., LTD 181
12.2.4 ROKA YALITIM 182
12.2.5 SECON RUBBER AND PLASTICS, INC. 182
12.2.6 ELASTOMER INDIA MFG. CO. 183
12.2.7 VEE VEE AGENCIES 183
13 ADJACENT AND RELATED MARKETS 184
13.1 INTRODUCTION 184
13.2 LIMITATIONS 184
13.3 INTERCONNECTED MARKETS 184

13.4 BUILDING THERMAL INSULATION MARKET 184
13.4.1 MARKET DEFINITION 184
13.4.2 MARKET OVERVIEW 184
13.4.3 BUILDING THERMAL INSULATION MARKET, BY BUILDING TYPE 185
13.4.4 BUILDING THERMAL INSULATION MARKET, BY BUILDING TYPE 185
13.5 NON-RESIDENTIAL BUILDING 185
13.5.1 ROBUST MANUFACTURING AND INCREASE IN INDUSTRIAL ACTIVITIES 185
13.5.2 INDUSTRIAL BUILDINGS 185
13.5.3 COMMERCIAL BUILDINGS 186
13.5.4 OTHERS 186
13.6 RESIDENTIAL BUILDING 186
13.6.1 GROWING URBANIZATION AND GOVERNMENT REGULATIONS
ON ENERGY-EFFICIENT BUILDINGS 186
14 APPENDIX 187
14.1 DISCUSSION GUIDE 187
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 189
14.3 CUSTOMIZATION OPTIONS 191
14.4 RELATED REPORTS 191
14.5 AUTHOR DETAILS 192