DUBLIN, Jan. 20, 2023 /PRNewswire/ — The “Automotive Foam Global Market Report 2022: Ukraine-Russia War Impact” report has been added to ResearchAndMarkets.com’s offering.
The global automotive foam market is expected to grow from $ 31.64 billion in 2021 to $ 36.18 billion in 2022 at a compound annual growth rate (CAGR) of 14.3%. The automotive foam market is expected to reach $ 54.26 billion in 2026 at a CAGR of 10.7%.
The automotive foam market consists of sales of automotive foam products by entities (organizations, sole traders, and partnerships) that refer to automotive foams made up of polyurethane, olefins, and polystyrene. These foams are produced by combining polyols and diisocyanates, which are frequently derived from crude oil and other bio-based biomass. The foams are used in automobile seats, armrests, and headrests, where their cushioning properties help to reduce fatigue and stress.
The main types of automotive foams are polyurethane (PU) foam, polyolefin (PO) foam, and other foams. Polyurethane (PU) foam refers to foam made up of polyurethane (PU). Polyurethane is a type of polymer offered in both solid and foam forms. In particular, the polyurethane foam has an open cell structure to achieve this shape and may be rigid or flexible.
The automotive foams are applied in seats, door panels and water-shields, instrument panels, bumper systems, and other applications that are suitable for passenger cars, heavy commercial vehicles (HCVs), and light commercial vehicles (LCVs).
Asia-Pacific was the largest region in the automotive foam market in 2021. The regions covered in the automotive foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in demand for electric vehicles is expected to propel the growth of the automotive foam market going forward. While the economic effect of COVID-19 has dampened demand for petrol and diesel cars, demand for electric and hybrid vehicles has increased.
Climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring. These EV vehicle shifts help the economy by reducing fuel costs and changing consumption from petroleum products to more locally produced power vehicles. These factors increased the demand for automobile foam, offering passengers maximum comfort, safety, and security during the drive.
For instance, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Furthermore, the global electric vehicle stock reached 10 million units in 2020, representing a 43% increase over 2019. Therefore, rising demand for electric and hybrid vehicles will drive the automotive foam market.
The rising use of bio-based materials has emerged as a key trend gaining popularity in the automotive foam market. Bio-based products can help the economy become more sustainable and reduce its reliance on fossil fuels. In addition, biobased materials protect the environment and reduce associated greenhouse gas emissions, which helps attract the rural economy.
These bio-based materials are derived from organic carbon sources such as sugarcane, biomass, and potato corn that innovate new sustainable and lightweight automotive materials. Major companies operating in the automotive foam market are focused on providing technologically advanced bio-based materials to strengthen their market position.
The countries covered in the automotive foam market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major players in the automotive foam market are
Armacell
BASF SE
Johnson Controls
Woodbridge Foam Corporation
Lear Corporation
Bridgestone Corporation
Recticel
The Dow Chemical Company
Saint-Gobain
Rogers Corporation
Borealis AG
Fritz Nauer AG
Adient
Foam Supplies Inc. (FSI)
Magna International
Key Topics Covered:
1. Executive Summary
2. Automotive Foam Market Characteristics
3. Automotive Foam Market Trends And Strategies
4. Automotive Foam Market – Macro Economic Scenario
4.1. COVID-19 Impact On Automotive Foam Market
4.2. Ukraine-Russia War Impact On Automotive Foam Market
4.3. Impact Of High Inflation On Automotive Foam Market
5. Automotive Foam Market Size And Growth
5.1. Global Automotive Foam Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Automotive Foam Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Automotive Foam Market Segmentation
6.1. Global Automotive Foam Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Polyurethane (PU) Foam
Polyolefin (PO) Foam
Other Types
6.2. Global Automotive Foam Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Seating
Door Panels and Water-shields
Instrument Panels
Bumper System
Other Applications
6.3. Global Automotive Foam Market, Segmentation By End-User Industry, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Passenger Cars
Heavy Commercial Vehicles (HCVs)
Light Commercial Vehicles (LCVs)
7. Automotive Foam Market Regional And Country Analysis
7.1. Global Automotive Foam Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Automotive Foam Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/vftk8y
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