Rubber Foam Materials Market To Be Driven By The Rising Application Of The Product In Various End Use Industries In The Forecast Period Of 2023-2030
The increasing application of rubber foam is expected to foster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Rubber Foam Materials Market Size, Share & Industry Analysis, By Type (Cross-Linked Polyethylene Foam, Polyurethane Foam, Microcellular Urethane Foam), By Application (Dust seals for HVAC access doors, Cabinet insulation, Noise and vibration reducers, Transportation, Automotive trim, Refrigerated transport vehicles, Foam rubber tubes) and Regional Forecast, 2023-2030.” The long-term thermal stability offered by rubber foam is expected to fuel its demand in the forthcoming years.
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The rubber foam materials market report incorporates:
- Wide-ranging evaluation of the market
- Valuable insights into the segments
- Latest trends and important drivers
- Dominant regions
- Key Development
Acquisition of TB Design Inc by Armacell to Foster Growth
The increasing acquisitions and partnerships among key players are expected to aid the expansion of the market. For instance, in April 2018, Armacell announced that it has acquired TB Design Inc. (Canada) which is a proprietary pipe reinforcement system supplier. This purchase is expected to boost Armacell’s footprint in Canada and also improve its foothold in the global marketplace. Moreover, the growing demand for rubber foam owing to its moisture tolerance, long-term thermal stability can spur opportunities for the market. The rubber foam content is a vital material in the insulation industry because it removes the need for a vapor barrier to avoid moisture transmission. Thus, the increasing application in the insulation industry is expected to augur well for the market. The growing use in hot and cold-water lines interior and exterior duct systems, chillers, refrigeration piping, mechanical systems can have a tremendous effect on the market.
However, the high availability of rubber foam and increased competition in the industry are factors expected to restrict the market in the forthcoming years.
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Heavy Consumption and Production to Enable Growth in Asia Pacific
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global market owing to the increasing consumption and production. The rising application in various end-use industries such as HVAC and heating & plumbing is expected to further boost the market in the region. The market in North America is expected to hold the largest share in the market wing to the investments in the automobile and construction industry. Europe is expected to experience a significant share owing to the presence of major automobile companies in the region. Latin America and Middle East & Africa are predicted to observe a steady growth rate owing to the growing demand for various developing industries in the region.
November 2018: K-Flex began a new fabrication plant in Egypt. The new production plant will help the company to serve Europe’s rising demand and extend its presence internationally.
The Report Lists the Key Companies in the Rubber Foam Materials Market:
- Armacell International SA
- L’Isolante K-Flex
- Zotefoams PLC
- Hira Industries
- Kaimann Insulation Ltd.
- Jinan Retek Industries Inc
- Aeroflex USA, Inc.
- Anavid Insulation Products.
- Huamei Energy-saving Technology Group Co
- Kiryat Anavim Ltd.
- NMC Insulation
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