Elastomeric Foam Market

Expansions, Mergers & Acquisitions, New Product Launches, and joint Ventures are the Key Development Strategies adopted by the Leading Players in the Elastomeric Foam Market.

Elastomeric foams are made out of rubber, which can be based on either natural or synthetic rubber and are used for thermal and acoustic insulation for various applications in various industries such as HVAC, automotive, and electrical & electronics. On the basis of type, the elastomeric foam market is classified into natural and synthetic rubber. Synthetic rubber is again classified into four types, including nitrile butadiene rubber (NBR), ethylene propylene diamine monomer (EPDM), chloroprene (CR) and others. Elastomeric foams are used in industries such as HVAC, automotive, and electrical & electronics. The superior properties of elastomeric foams and increasing awareness regarding energy saving and significant demand from the HVAC industry are the major factors driving the elastomeric foam market. The elastomeric foam market is estimated at USD 1.20 billion in 2017 and is projected to reach USD 1.75 billion by 2023, at a CAGR of 6.5% between 2018 and 2023.

The key companies in the elastomeric foam market are mainly involved in new product launches to strengthen their position in the market. It was the most preferred strategy adopted by the market players from 2014 to 2018. The elastomeric foam market has been witnessing growth, and the increase in the number of new product developments indicates that manufacturers are launching new products to establish a strong foothold in the elastomeric foam market and cater to the growing demand for elastomeric foam in various applications.

Both expansions and mergers & acquisitions were the second-most preferred growth strategy adopted by the elastomeric foam manufacturers. The major market players adopted the expansion strategy to increase their market share and position further. With the adoption of mergers & acquisitions strategy, the manufacturers are able to acquire small to medium-sized companies to expand their manufacturing facilities. Therefore, these strategies helped the companies expand their reach to a wider customer base and serve the growing demand for elastomeric foam. This would also enable them to consolidate their position in the market further.

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The major players in the elastomeric foam market are Armacell (Germany), Hira Industries (UAE), Zotefoams (UK), L'ISOLANTE K-FLEX (Italy), Kaimann (Germany), (China), Jinan Retek Industries (China), Aeroflex USA (US), NMC SA (Belgium), and Anavid (Israel). These companies have adopted various organic and inorganic growth strategies to become the key players in the global elastomeric foam market.

Armacell (Germany), L'ISOLANTE K-FLEX (Italy), Kaimann (Germany), Aeroflex USA, (US), and Hira Industries (UAE) are the leading players in the global elastomeric foam market. These companies adopted a number of strategic activities, with expansions, new product launches, mergers & acquisitions, and joint ventures being the most preferred ones.
Armacell dominated the elastomeric foam market in 2017. The company has a broad product portfolio offering elastomeric foams to a wide range of industries. It has also adopted growth strategies to expand its market presence. For instance, in 2018, the company acquired TB Concept Inc. (Canada), which is a manufacturer of patented pipe support solution. This acquisition is expected to strengthen Armacell’s footprint in Canada, further, strengthening its global market position.

L'ISOLANTE K-FLEX is the second-largest player in the elastomeric foam market. The company serves various high-growth end-markets offering a wide range of elastomeric foams. Furthermore, the company adopted new product launches as the most adopted strategy between 2014 and 2018, which helped the company strengthen its market position. For instance, in July 2016, the company announced the development of a new product line for acoustic and thermal insulation. These foams are used in railway applications and are available in the form of sheets and pipes.

Related Reports:

Elastomeric Foam Market by Type (Natural Rubber/Latex, Synthetic Rubber (Nitrile-Butadiene Rubber, Ethylene-Propylene Diamine Monomer, Chloroprene)), End-Use Industry (HVAC, Automotive, Electrical & Electronics), and Region - Global Forecast to 2023

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