Lucintel Forecasts Elastomeric Foam Insulation Market to Reach $1.7 Billion by 2025

According to the recent study the elastomeric foam insulation market is projected to reach an estimated $1.7 billion by 2025 from $1.4 billion in 2019, at a CAGR of 3.9% from 2020 to 2025. Growth in this market is primarily driven by construction activities and stringent government regulation for energy efficiency.

Browse 139 figures / charts and 118 tables in this 211 -page report to understand trends, opportunities and forecast in elastomeric foam insulation market by product type (closed cell and open cell), end use industry (building and construction, automotive, industrial, electrical and electronics, healthcare, and others), function (thermal insulation, acoustic insulation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Closed cell market is expected to remain the largest segment during the forecast period.”

Based on product type, the elastomeric foam insulation market is segmented into closed cell and open cell. Lucintel forecasts that the closed cell market is expected to remain the largest segment and witness the highest growth over the forecast period due to its excellent thermal insulation and moisture resistance properties.

“Within the elastomeric foam insulation market, the building and construction segment is expected to remain the largest end use industry”

Based on end use industry, the building and construction segment is expected to witness the largest end use industry due to rise in building and construction activities and supportive government regulations for energy efficient structures. The electrical and electronics segment is expected to witness the highest growth in the forecast period due to its increasing usage in various consumer appliances such as refrigerators and air conditioners.

“Asia pacific will dominate the elastomeric foam insulation market in near future”

Asia Pacific is expected to be the largest region with the highest growth over the forecast period supported by increasing residential construction and government regulations for energy efficiency.

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Major players of elastomeric foam insulation market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Armacell, K-Flex, Aeroflex, Humaei, Kaimann, Zotefoams, and Hira Industries are among the major Elastomeric foam insulation providers.

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