Automotive Foam Market Share & Size | Global Trends 2028

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Automotive Foam Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type [Polyurethane (PU) Foam, Polyolefin Foam (PO), and Others], Application (Interior and Exterior), End Use [Heavy Commercial Vehicles (HCVs), Light Commercial Vehicles (LCVs), and Passenger Cars], and Geography

Report Code: TIPRE00004497 | No. of Pages: 150 | Category: Chemicals and Materials | Status: Prebook

Automotive foam market was valued at US$ 56.6 billion in 2021 and it is estimated to grow at a CAGR of 9.3% between 2022 and 2028.

Automotive foams are widely used in the manufacturing of high-resilience foam seating, headliners, rigid foam insulation panels, suspension insulators, bumpers, and other vehicle’s interior & exterior components. Nowadays, manufacturers are developing sophisticated technology-based foaming solutions for the automotive components to reduce acoustic noise and weight of an automotive vehicle. In addition, they develop recyclable and durable polyurethane material-based foaming solutions to address the consumers’ necessities of sustainable goods. These aspects are expected to create a new growth avenue for the market.

MARKET DYNAMICS


Rising demand for electric vehicles equipped with foam-based components and parts is expected to drive the automotive foam market growth. According to the data presented by the Alliance for Automotive Innovation, a US-based trade association, in 2021, the sales of light-duty advanced technology vehicles in the US reached 1.61 million. Furthermore, technological advancement in the foam moulding and injection processes during the manufacturing of foam-based automotive components is likely to support the future development of the market. Besides, increasing income of the global population and their spending on aesthetic and matte finish-based cars and bikes are among the factors anticipated to drive the market growth during the forecast period.  

MARKET SCOPE


The "Global Automotive Foam Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of market with detailed market segmentation by type, application, end use, and geography. The report provides key statistics on the market status of the leading market player and offers key trends and opportunities in the automotive foam industry.

Strategic Insights

Report Coverage - Automotive Foam Market
Report CoverageDetails
Market Size Value inUS$ 56.6 Billion in 2021
Market Size Value byUS$ 109.5 Billion by 2028
Growth rateCAGR of 9.3% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages150
Historical data availableYes
Segments coveredType, Application, and End Use
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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MARKET SEGMENTATION


The global automotive foam market is segmented into type, application, and end use. Based on type, the market is segmented into polyurethane foam (PU), polyolefin foam (PO), and others.  By application, the market is segmented into interior and exterior. Further, from end use point of reference, the market is segmented into heavy commercial vehicles (HCVS), light commercial vehicles (LCVS), and passenger cars.

REGIONAL FRAMEWORK


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global automotive foam market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The automotive foam market by each region is later sub-segmented by respective countries. The report covers analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.

From the regional perspective, Asia Pacific dominated the automotive foam market in 2021. The dominance of Asia Pacific in the automotive foam market is majorly due to the significant usage of polyurethane and polyolefin foaming solutions in the manufacturing of cars and other vehicles in the region. In addition, robust presence of the automotive manufacturing facilities of the companies such as Toyota Motor Corporation and Hyundai Motor Company in Japan, China, and Southeast Asia is further supporting the material’s consumption rate in the region. The below figure showcases the revenue growth trend in the global automotive foam market:

Automotive Foam Market

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Source: The Insight Partners Analysis

The report analyzes factors affecting automotive foam market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, affecting the market during the forecast period. The report also provides exhaustive Porter's five forces analysis highlighting the factors affecting the automotive foam market.

IMPACT OF COVID-19 PANDEMIC

Closure of foam-based automotive components manufacturing sites due to the COVID-19 related lockdown restrictions impacted the automotive industry growth amid pandemic. However, during the COVID-19 pandemic, automotive industry manufacturers’ focus toward improving their automotive production capacities supported the consumption rate of the polyurethane and polyolefin foam solutions for automobiles worldwide. Also, relaxation of lockdown restrictions post COVID-19 pandemic period resulted in accelerated demand for vehicles and spiked the automotive industry-purpose foaming solution’s demand globally.

MARKET PLAYERS


The reports cover key developments and organic/inorganic growth strategies implemented by key players in the automotive foam market. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies’ activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for expansion of business and customer base of market players. The market players from automotive foam market are anticipated to witness lucrative growth opportunities in the future with the rising demand for automotive foam.

The report also includes the profiles of key automotive foam market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years. Below mentioned is the list of few companies engaged in the automotive foam market.

  • Armacell LLC
  • Recticel NV
  • Lear Corporation
  • BASF SE
  • Woodbridge Foam Corporation
  • Bridgestone Corporation
  • Rogers Corporation
  • Saint-Gobain
  • The Dow Chemical Company
  • Fritz Nauer AG

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Market Research

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The List of Companies

1. Armacell LLC
2. BASF SE
3. Bridgestone Corporation
4. Fritz Nauer AG
5. Lear Corporation
6. Recticel NV
7. Rogers Corporation
8. Saint-Gobain
9. The Dow Chemical Company
10. Woodbridge Foam Corporation

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