“Superior properties of elastomeric foam as an insulation material and significant growth of the end-use industries of elastomeric foam, including HVAC are the factors driving the elastomeric foam market.”
The global elastomeric foam market is estimated at USD 1.28 billion in 2018 and is projected to reach USD 1.75 billion by 2023, at a CAGR of 6.5% between 2018 and 2023. The market is witnessing growth due to the excellent properties of elastomeric foam that make it suitable for use as an insulation material. The factors such as the increasing use of elastomeric foam in various applications in the industries such as automotive, healthcare, electrical & electronics, and others that include consumer goods and industrial goods and many favorable initiatives encouraging energy efficiency undertake
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