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The automotive foam industry is an incredible field that forms an essential part of the automotive sector. The dynamics of the market in this area consist of a combination of factors such as technological progress, varied consumer tastes, regulatory standards and international economic indicators. One of the main factors affecting the market phenomenon is a growing demand for lightweight materials in the automotive industry that are carbon neutral in order to possible high fuel efficiency and reduce gas emissions. The process of making foams is known for its lightweight nature and easy manipulability that makes them ideal for delivering the requested heavy industrial applications.
Production procedures based on new technologies have also shown their importance in the process of foam market development. The growth of the technology required for advanced foaming techniques, like injection molding and extrusion, can be used to produce foam materials with higher strength, short-term resistance, and energy absorption capacities. This has resulted in the popularizing of autocad foams for a range of applications including seatings, interiors, and insulation.
Customer needs and shifting lifestyles are also factors other than impacting the automotive foam market. As drivers are more and more caring of safety, comfort, and appearance, high quality foam for interior automobiles has significantly increased driven by the demand. Many producers are incorporating these tendencies into their studies and laboratories to develop the most modern foam systems which are functional ones and are boosting the driving experience.
Besides, the an appropriate regulatory landscape has also arrived at the stage of driving market forces. Strict environmental regulations, as well as emission standards, have induced car manufacturers to look into foams, as well as other lightweight materials such as foams, as a means to comply with this legislation. Such an ease in doing business in the automotive foam industry has led to a favorable justification for more manufacturers to align their products in compliance with the regulations.
The automotive foam market is reportedly impacted by the global economic trends and the geo-political factors contributing to the ups and downs of the market. An economic recession can mean a decline in consumer investments in vehicles, thereby lowering the overall demand for automotive foams. By contrast, if the economical situation has a positive effect on industrial activity, it can contribute to an increased vehicle output and thereby, to a growing demand for foam material.
Competitive ambiance is also important for market dynamics in the automotive foam sector. Among the powerhouses a robust competitive environment prevails which leads to new products development, innovation and cheaper versions of identical products. Competition between market leaders is highly competitive and innovations are always ongoing. This is seen through the development of new foam formulations and processes which essentially drives at the increased evolution of the market.
Automotive Foam Market Highlights:
Global Automotive Foam Market Overview
Automotive Foam Market Size was valued at USD 42.43 Billion in 2023. The automotive foam industry is projected to grow from USD 46.77 Billion in 2024 to USD 92.50 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.90% during the forecast period (2024 - 2032). In the upcoming years, the desire for lightweight and fuel-efficient automobiles will be one of the major market drivers for the worldwide automotive foam market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automotive Foam Market Trends
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Growing production of electric vehicles (EV) is driving the market growth
The market CAGR for automotive foam is anticipated to rise due to the rising demand for electric automobiles. The economic impact of COVID-19 has decreased demand for petrol and diesel automobiles while raising it for electric and hybrid vehicles. The shift to emissions-free motoring is driven by concerns about warming and goals to attain net-zero emissions. These EV car movements benefit the economy by lowering gasoline costs and shifting consumption away from petroleum products towards more locally manufactured power vehicles. These elements raised the demand for automotive foam, giving passengers comfort, safety, and security while driving. For instance, customers spent USD 120 billion on electric car purchases in 2020, a 50% increase over 2019. This information comes from the EV Outlook 2021. In addition, the number of electric vehicles worldwide increased by 43% in 2020 to 10 million units. The growing demand for electric and hybrid cars drives the automotive foam industry.
The market for automobile foam has seen a significant increase in the use of bio-based products. Products made from bio-based materials can assist in making the economy more sustainable and less dependent on fossil fuels. Biobased products safeguard the environment and lower associated greenhouse gas emissions, stimulating the rural economy. These organic carbon sources, which include sugarcane, biomass, and potato maize, are used to create novel, lightweight, sustainable automobile materials. Major players in the automobile foam industry are concentrating on offering technologically cutting-edge bio-based products to boost their market share. For instance, Huntsman and Catalisti entered a research project to create cutting-edge polyurethane foams for automotive applications in October 2021. The project will use bio-based components to increase the sustainability of the foams. Thus, driving the automotive foam market revenue.
BASF SE introduced, in March 2023, a range of new polyurethane foams purposely designed for the car industry.
June 2023: Rogers Corporation has recently become news by launching their latest product line, which consists of sound-deadening foams that are engineered for automotive.
May 23, 2023: Borealis and IINO Lines signed a long-term charter contract for the Oceanus Aurora, a state-of-the-art custom-built LPG vessel.
Automotive Foam Market Segment Insights
Automotive Foam Application Insights
The automotive foam market segmentation, based on application, includes seating, door panels and bumper system. The seating category generated the most income. The increase in automotive manufacturing brought on by rising disposable income and purchasing power is anticipated to impact market expansion. Near the human spine, moving vehicles cause vibrations. Seats have low natural frequencies and can amplify the vibration effect at some frequencies transmitted for extended periods and injure the spine.
April 20, 2023: Johnson Controls has entered into a partnership with Nucor to recycle nearly all scrap steel at major Johnson Controls facilities in America.
Automotive Foam Type Insights
The automotive foam market segmentation, based on type includes polyurethane (PU) foam and polyolefin (PO) foam. The polyurethane (PU) foam segment dominated the market. Demand for PU foam is predicted to be impacted by the growing use of foam-based materials in car interiors and parts. It has become one of the most crucial materials in the manufacture of automobiles thanks to its superior mechanical strength capabilities, capacity for weight reduction, resistance to wear, and weathering.
Figure 1: Automotive Foam Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automotive Foam End-Use Insights
The automotive foam market segmentation, based on end-use, includes car, light commercial vehicle and heavy commercial vehicle. The car category generated the most income. Manufacturers have been compelled to innovate and create new technologies due to the rising demand for low-emission automobiles. During the forecast period, these trends are anticipated to fuel automotive manufacturing and impact the market. The demand for all sorts of passenger cars is anticipated to increase due to the expanding working population in nations like China and India.
Automotive Foam Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American automotive foam market area will dominate this market, driven by the increased development of different automotive materials to promote fuel efficiency. New manufacturing technologies and research and development initiatives are driving market expansion in the United States. The increased consumer disposable income contributes to the strong demand in these areas.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AUTOMOTIVE FOAM MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe automotive foam market accounts for the second-largest market share. The expanding automotive industries in Germany and the UK are to be attributed for this share. The number of automobiles in use in the UK has been steadily increasing. The number has risen due to the nation's consistent economic growth. During the projection period, significant automakers in the area, who are steadily expanding their production capacity, are anticipated to impact demand for the product in Europe. Further, the German automotive foam market held the largest market share, and the UK automotive foam market was the fastest growing market in the European region
The Asia-Pacific Automotive foam Market is expected to grow at the fastest CAGR from 2023 to 2032. The region's vehicle market is anticipated to benefit from increased consumer buying power, increased demand for personal mobility, and cost-effective models released by automakers. According to production output and yearly sales, China is regarded as the world's largest automobile market. The International Trade Administration's research indicates that by 2025, domestic production will have increased to 35 million automobiles. Moreover, China’s automotive foam market held the largest market share, and the Indian automotive foam market was the fastest growing market in the Asia-Pacific region.
Automotive Foam Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the automotive foam market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, automotive foam industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the automotive foam industry to benefit clients and increase the market sector. In recent years, the automotive foam industry has offered some of the most significant advantages to market. Major players in the automotive foam market attempting to increase market demand by investing in research and development operations include Johnson Controls, Woodbridge, Lear Corp., Bridgestone Corporation, Armacell, Rogers Communications, BASF SE, Recticel, Vitafoam Nig. PLC, Saint-Gobain, Stepan Company, NGCT CleansysPvt. Ltd., ABRO Industries Inc., BG Products Inc., Auto Industrial Marine Chemicals Inc., Dun & Bradstreet Inc. 3M, Radiator Specialty Company and Cox Industries Inc.
Bridgestone Corp. (Bridgestone) is a tyre and rubber products company that creates, produces, and sells tyres and tyre tubes, tyre raw materials, wheels and accessories, and other tire-related products for vehicles such as motorcycles, industrial machinery, agricultural equipment, trucks, buses, construction and mining vehicles, and passenger cars. In addition, the business produces various varied commodities, such as recreational goods, chemicals, and industrial rubber. In addition to providing financial and other services, commercial roofing materials, and other materials, Bridgestone offers automobile maintenance and repair services.
Belgian insulation company Recticel significantly influences both Western and Eastern Europe. By the end of 2022, Recticel (excluding ceased businesses) employed 1,234 employees across 12 locations in 7 different countries, generating €561.5 million in revenue. Recticel helps fight climate change by providing energy-efficient insulating applications for the building sector. Recticel Insulation Boards sells high-quality thermal and acoustic insulation products under well-known brands, including Eurowall, Powerroof, Powerdeck, and Powerwall. In March 2021, a new line of low-emission foams for car interiors was introduced, according to Recticel, a top producer of polyurethane foam products.
Key Companies in the automotive foam market include
- Johnson Controls
- Woodbridge
- Lear Corp.
- Bridgestone Corporation
- Armacell
- Rogers Communications
- BASF SE
- Recticel
- Vitafoam Nig. PLC
- Saint-Gobain
- Stepan Company
- NGCT CleansysPvt. Ltd.
- ABRO Industries Inc.
- BG Products Inc.
- Auto Industrial Marine Chemicals Inc.
- Dun & Bradstreet Inc.
- 3M
- Radiator Specialty Company
- Cox Industries Inc.
Automotive Foam Industry Developments
May 2022: Elastoflex CE 3651/108 is a water-blown polyurethane insulation spray foam that was created by King Long United Automotive (Suzhou) Co., Ltd., a major bus manufacturer in China, in partnership with BASF SE. The interior and internal components of the commercial buses will be insulated using this foam.
January 2022: Elkhart Composites was purchased by Thor Industries, a recreational vehicle producer with headquarters in the US, for an undisclosed sum. With the acquisition, Thor Industries could produce RVs more effectively and better serve its clients. Elkhart produces Elkboard, an environmentally friendly foamed polypropylene-based composite material used in RV sidewalls and insulation.
October 2022: Mumbai city of India, was chosen by BASF SE to host Polyurethane Application Development Laboratory, which will aid makers of molded polyurethane foams used in automobiles to analyze them as regards comfort, quality levels, emission abatement and productivity efficiency.
September 2022: Covestro AG’s bio-circular feedstock based on renewable TDI, such as polyether polyols can be used for making flexible polyurethane foams such as those used in car seats.
In May 2022, BASF SE partnered with King Long United Automobile (SuZhou) Co., Ltd., a leading bus manufacturer in China, to develop Elastoflex CE 3651/108 water-blown polyurethane insulation spray foam.
Automotive Foam Market Segmentation
Automotive Foam Application Outlook (USD Billion, 2018-2032)
- Seating
- Door Panels
- Bumper System
Automotive Foam Type Outlook (USD Billion, 2018-2032)
- Polyurethane (PU) Foam
- Polyolefin (PO) Foam
Automotive Foam End-Use Outlook (USD Billion, 2018-2032)
- Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Automotive Foam Regional Outlook (USD Billion, 2018-2032)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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