Automotive Foam Market Growth and Global Analysis Report 2022
The report on "Global Automotive Foam Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast" added by DecisionDatabases.com provides a comprehensive analysis including market values, forecasts, as well as a detailed competitive market analysis of major industry players. Automotive foam finds application across various verticals such as seatings, headliners, instrument panels, seal, NVH, door panels, gaskets, water shields and others.
The global automotive foam industry
is expected to witness a significant growth over the forecast period on account of emerging end-use industry, rising technological advancements and growing demand due to its unique & versatile physical properties, especially in the emerging economies. These foams are majorly used in all kinds of vehicles including heavy commercial vehicle (HCV), passenger cars (PC) and light commercial vehicle (LCV). Increasing demand in terms of consumption comes from emerging nations such as India & China, which in turn will further aid to the growth of automotive foam market in the near future. Its growing usage in the seating applications across the world is anticipated to drive its demand over the coming years. Expanding end-user industries and rising adoption of energy efficient products are driving this market globally. Growing vehicle industry and rising application scope would have a positive impact on the growth of foam market during the forecast period. However, European economic crisis had negatively impacted the demand-growth cycle for automotive foam market, which is expected to be overcome in the near future with better recovery of the economy.
The market has been segmented in the report based on type - polyurethane (PU) foam
, polyolefin (PO) foam, and other foams. The polyurethane foams is a leading type segment and is estimated to witness a double-digit growth in the study period owing to its growing global consumption due to its various advantages such as exceptional sound & thermal insulation, superior fire resistance, easy installation, and enhanced light weight properties. The automotive foam market has been further segmented based on application and end-user.
Seating is a major application segment and is anticipated to show a substantial growth over the coming years on account of its increasing application scope and an outstanding possibility for expansion across the globe.
Asia Pacific is a fastest growing market for automotive foam and is projected to grow at the highest CAGR over the forecast period due to growing HCV (heavy commercial vehicle) & passenger car industry in the region. In addition, the presence of key manufacturers along with their rising initiatives for market expansion such as M&A, product innovation, and product launches have in turn made the region a lucrative market for growth.
The major industry participants profiled in the report include Armacell, BASF SE
, Johnson Controls, Woodbridge Foam Corporation, The DOW Chemical Company, Lear Corporation, Bridgestone Corporation, Recticel, Vitafoam, Saint-Gobain, and Rogers Corporation.
In June 2014, The DOW Chemical Company has launched its first emission-free Polyurethane (PU) foam solution for interior applications.
In March 2012, GRACO and Dow Automotive Systems has jointly introduced the BETAFOAM™ NVH solution to provides a pleasant and quieter riding experience, by incorporating Dow’s BETAFOAM™ technology and Graco HFR™ System, the BETAFOAM™ NVH solution
In Jan 2016, Armacell, a leading insulation foam producer, launched first foam insulation production plant in Russia.
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