Global Automotive Foam Market Data 2024, Forecast To 2033
15 Feb, 2024
The automotive foam market has rapidly expanded from $40.81 billion in 2023 to $45.41 billion in 2024 at an 11.3% CAGR. Safety regulations, customization, and comfort requirements contributed to this historic growth. In the forecast, the market is expected to reach $69.16 billion in 2028 with an 11.1% CAGR. Factors include autonomous vehicles, sustainability initiatives, advanced safety features, connectivity features, and increased urbanization, along with trends such as 3D molded foams and sustainable, biodegradable materials.
Global Automotive Foam Market Key Driver
The increase in demand for electric vehicles stimulates the automotive foam market. Despite economic challenges from COVID-19, electric and hybrid vehicle demand rose, with consumers spending USD 120 billion on EV purchases in 2020. The global electric vehicle stock reached 10 million units in 2020, driving demand for automotive foam.
Get A Free Sample Of The Global Automotive Foam Market ReportGlobal Automotive Foam Market Segments
The automotive foam market covered in this report is segmented –
1) By Type: Polyurethane (PU) Foam, Polyolefin (PO) Foam, Other Types
2) By Application: Seating, Door Panels and Watershields, Instrument Panels, Bumper System, Other Applications
3) By End-User Industry: Passenger Cars, Heavy Commercial Vehicles (HCVs), Light Commercial Vehicles (LCVs)
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the automotive foam market in 2023. The regions covered in the automotive foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Automotive Foam Industry Players
Armacell International Holding GmbH; BASF SE; Johnson Controls International plc; Woodbridge Foam Corporation; Lear Corporation; Bridgestone Corporation; Recticel Group; Dow Chemical Company; Compagnie de Saint-Gobain SA; Rogers Corporation; Borealis AG; Fritz Nauer AG; Adient plc; Foam Supplies Inc.; Magna International Inc.; Covestro AG; Huntsman International LLC; Sheela Foam Ltd.; FoamPartner Group; Zotefoams plc; Sekisui Chemical Co. Ltd.; UFP Technologies Inc.; Rogers Foam Corporation; Foam Supplies Inc.; Future Foam Inc.; Vitafoam Products Canada Limited; Foamcraft Inc.; Foamex Innovations Holdings LLC; General Plastics Manufacturing Company; Grand Rapids Foam Technologies LLC
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Automotive Foam Market Overview
The automotive foam refers to materials 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.
Automotive Foam Global Market Report 2023 provides data on the global automotive foam market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive foam market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.