NBR/PVC is the largest and fastest-growing type segment of the flexible elastomeric foam market
The flexible elastomeric foam market has been segmented on the basis of type into natural rubber/latex and synthetic rubber. Synthetic rubber is further classified into NBR/PVC, EPDM, CR, and others. In 2018, the NBR/PVC type accounted for the largest market share, in terms of volume, due to the demand for NBR/PVC flexible elastomeric foam in the HVAC and automotive & transportation end-use industry. NBR/PVC is a closed cell material used for reducing thermal losses in HVAC systems such as chilled water installations, refrigeration, and air-conditioning. So, it is among the fastest-growing type of flexible elastomeric foam.
Rising demand from emerging economies is expected to drive the flexible elastomeric foam market during the forecast period
APAC is expected to account for the largest share of the flexible elastomeric foam market, in terms of both volume and value by 2023. APAC is projected to register the highest CAGR between 2018 and 2023, in terms of value. The high economic growth coupled with the mounting population is expected to boost the infrastructural sector in the region, which will increase the need for flexible elastomeric foam for HVAC applications in both commercial as well as residential sectors.