Armacell International S.A. (Luxembourg) is one of the leading players in the elastomeric foam market
The
Global Elastomeric Foam Market is estimated to increase from USD 2.6 billion
in 2019 to USD 3.6 billion by 2024, at a CAGR of 6.7% during the forecast
period. The global elastomeric foam market is driven mainly by its increasing
demamd from HVAC system. The growth in automotive production and increasing
usage of thermal insulation in building & construction will drive the
demand during the forecast period.
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Emerging
economies such as China, India, Japan, and South Korea are experiencing high
demand for elastomeric foam. Increasing per capita expenditure, growing
construction industry ,huge consumer base, rising urban population, low labor
costs, and easy availability of raw materials are attracting global automobile
manufacturers to shift their production facilities to Asia Pacific, thus,
creating a high demand for elastomeric foams in these industries.
Armacell
International SA (Germany), Hira Industries (UAE), Zotefoams PLC (UK),
L’Isolante K-Flex S.P.A (Italy), Kaimann Insulation (Germany), Huamei
Energy-saving Technology Group Co., Ltd. (China), Jinan Retek Industries Inc.
(China), Aeroflex USA, Inc. (US), NMC Insulation (Belgium), and Anavid
Insulation Products Kiryat Anavim Ltd.(Israel), among others are the leading elastomeric
foam manufacturers, globally. These companies adopted new product development, agreement,
acquisition, and expansion as their strategies between January 2015 and August
2019 to earn a competitive advantage in the elastomeric foam market.
Armacell
International S.A. (Luxembourg) is one
of the leading players in the elastomeric foam
market. The company has been focusing on both organic and inorganic
strategies to maintain its leading position in the market. For example, in April
2018, the company acquired TB Concept Inc. (Canada), which is a manufacturer of
patented pipe support solution. This acquisition is expected to strengthen the
presence of Armacell in Canada and will help in strengthening its position in
global market.
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L'isolante
K-Flex S.P.A (Italy) is another major player in the elastomeric foam market. In
November 2018, the company expanded its manufacturing facility in Egypt. The
new manufacturing facility will help the company to meet the growing demand in
Europe and expand its footprint globally.
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