Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The dynamics of automotive foam market were distinctly observed in the last few years through which the automotive industry could be systematically analyzed. One of the current trends is the growing demand for lightweight materials whose aim is to facilitate achieving fuel efficiency and meeting the stringent emission regulations. Car foams, in which many automotive manufacturers see lightweight and durable properties as their competitive advantage, are gaining more and more attention from manufacturers who compete to develop vehicles which are both fuel-efficient and friendly to the environment.
The other, quite notable trend which is noticeable in the automotive foam market is that importance given to interior comfort and luxury. Drawing more attention to the full shifting, automakers increasingly use such materials as foam in seats, headliners and other interior parts to give a kind of experience with comfort as well as aesthetics. This is the continuation of the trend that aims at the generation of vehicles which provide the customers with premium and entertaining elements while driving.
As a result, the sustainability has evolved as one of the significant driver of the latest market trend in the automotive foam sector. The importance of ecological concerns is gradually being realized, which results in green materials being increasingly considered for the production of vehicles. Sustainable Firm Foams, which can recycled and bio-based materials be used to produce, are gaining more and more popularity as an alternative to combustion. The companies are going to embrace these materials as consumers’ pattern changes and global sustainability is concerned.
The electric vehicles (EVs) revolution is not without influence on the automotive foam market. The automotive industry undergoes a transition and becomes more and more electrified. Therefore, the challenge for materials is to produce the materials that address the unique challenges in electric vehicles. Automotive foams contribute a lot in battery insulation and maintaining both performance and safety in electric vehicles. This trend is envisioned to be sustained given the increasing domestic electric car market adoption.
Besides, modern technologies gave rise to the appearance of complex foam formulations with superior qualities. This is a one-size-fits-all offering, addressing all requirements of automotive industry, ranging from regulating noise, vibrations, and thermal insulation. With the implementation of smart technologies into vehicles, modern and sophisticated foam materials that suit to the emerging requirements of the modern auto systems ushered the demand.
Along the way global factors of economy and geopolitical disruptions significantly contribute to the market patterns of the automotive foam. Price swings of core raw materials, trade conflicts, and economic confusion can hamper production costs and destruct the supply chain arrangement, thus transforming market structure. Due to the automotive industry’s evolving driving conditions, foam manufacturers and suppliers should now consider them as the most crucial attributes to survive.
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
-
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
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
