Global Automotive Foam Market- WishTree Insight

Global Automotive Foam Market by Application (Exterior and Interior), Type (Polyolefin (PO) Foam, Polyurethane (PO) Foam, and Others), End-Use (Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), Passenger Cars), and Regions, (APAC, Europe, North America, and LAMEA) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Automotive Foam market size was valued at USD 31.1 billion in 2022 and is expected to surpass USD 71.2 billion by 2032, expanding at a CAGR of 7.97% during the forecast period, 2022–2032. The market's growth is attributed to the growth of the automotive industry.

INTRODUCTION

Automotive foam refers to the various types of foam materials used in the manufacturing of vehicles, particularly cars, trucks, and other automobiles. These foam materials can be found in various parts of the vehicle, such as seats, headrests, armrests, door panels, dashboards, and interior trim.

There are several different types of foam materials used in the automotive industry, including polyurethane foam, expanded polystyrene (EPS), and polypropylene foam. Polyurethane foam is the most commonly used material, as it is lightweight, durable, and provides good cushioning and sound insulation properties. EPS foam is also used in the automotive industry for its insulating properties and ability to absorb impact. Polypropylene foam is commonly used in automotive applications due to its lightweight nature and resistance to moisture and chemicals.

Foam materials are used in the automotive industry to improve comfort & safety, and reduce noise and vibration. They are also used for their insulating properties to help regulate the temperature inside the vehicle. Additionally, foam materials can be recycled and reused, making them an environmentally friendly option for automotive manufacturers.

Market Trends, Drivers, Restraints, and Opportunities

• The expansion of the global auto sector is expected to propel the global automotive foam market.
• Increasing demand for electric vehicles (EVs) is anticipated to boost the market growth.
• Volatility in raw material prices is a restraining factor in the growth of the global automotive foam market.

Scope of the Report

Market Segment Insights

The interior segment holds the largest revenue and accounts for 42.3% of the market share

Based on application, the automotive foam market is divided into exterior and interior. The interior segment holds largest revenue and accounts for 42.3% of market share and is expected to expand rapidly during the forecast period owing to increasing automobile production worldwide due to increasing disposable income and spending capacity of customers.

The polyurethane (PU) Foam segment dominates the market

Based on type, the automotive foam market is divided into polyolefin (PO) foam, polyurethane (PU) foam, and others. The polyurethane (PU) foam segment dominates the market and is expected to expand rapidly during the forecast period owing to superior mechanical strength capabilities, resistance to the elements, resistance to wear, and capacity to reduce weight. However, the polyolefin (PO) foam segment is anticipated to hold a steady share of the market in the coming years.

The passenger car segment is projected to register a considerable CAGR

On the basis of end-use, the automotive foam market is segregated into light commercial vehicles (LCV), heavy commercial vehicles (HCV), and passenger cars. The passenger car segment is projected to register a considerable CAGR during the forecast period owing to increasing demand for low emission vehicles.

Asia Pacific accounted for 38% share

In terms of regions, the automotive foam market is classified as APAC, Europe, North America, and LAMEA. The market of Asia Pacific accounted for 38% share and is expected to constitute a key share of the market during the projected period owing to increasing consumer preferences for economic models and their personal mobility. However, the market of Europe is anticipated to expand at a rapid pace during the forecast period due to the growing automotive industry in UK and Germany.

Competitive Landscape

Key players competing in the Automotive Foam market are Dupont; Saint Gobain; Woodbridge; BASF SE; Armacell; Johnson Controls; Paul Bauder GmbH & Co. KG.

FAQs

How much is the market worth?

The Automotive Foam market size was valued at USD 31.1 billion in 2022 and is expected to surpass USD 71.2 billion by 2032.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 7.97%.

What are the key drivers of the market?

The market's growth is attributed to the growth of the automotive industry.

What segments are covered in the Automotive Foam report?

The segments covered in the report are Application (Exterior and Interior), Type (Polyolefin (PO) Foam, Polyurethane (PO) Foam, and Others), End-Use (Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), Passenger Cars).

Mention which region is expected to hold the highest share of the Automotive Foam market.

The Asia Pacific region is expected to hold the highest share of the Automotive Foam market.

Mention the key players in the market.

Dupont; Saint Gobain; Woodbridge; BASF SE; Armacell; Johnson Controls; Paul Bauder GmbH & Co. KG