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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Automotive Foams Market: By Type, By Application, By End user and Geography
Automotive Foams Market: By Type, By Application, By End user and Geography
Automotive Foams Market size valued 7,624.32 million in 2022 and expected to reach US$ 11,342.29 million by 2028, at a significant CAGR of 8.5% from 2023-2029. Emerging automotive industry in developing countries such as China, and India, is anticipated to propel the automotive foam market during the forecast period. Upcoming R&D activities in addition to scientific revolutions in the area of economical manufacture & dispensation has driven the market growth and progress is anticipated to endure in the immediate future. Rising population, in developing economies from Asia Pacific, combined through expanding consumer expenditure as well as procuring power is anticipated to upsurge the demand for automobiles in the near future. However, the stringent government regulations pertaining the use of these products restraints the market growth. This report studies global automotive foams market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global automotive foams market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global automotive foams market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Polyether is the fastest growing segment. It permits augmented intricacy of part design because of exceptional flow ability of foams in addition to improved compression-set assets than other low volatile organic compound (VOC) emission foam types, aiding to recover memory of foam shape after compression.
Study Period
2024-2030Base Year
2023CAGR
8.5%Largest Market
EuropeFastest Growing Market
Asia-Pacific
Automotive foam are available in various types such as polyurethane, polyolefin, others. Polyurethane is the major type of foams. Polyurethane foams provide increased structural support; manage harness, noise, and vibration; and aid to cover the cabin against road and engine noise and dust. Supports to meet sustainability objectives through 25 percent renewable soy-based low-emission MDI. This is a lighter-weight plus results in a possible mass reserves of up to 30 percent liable on magnitude void. Polyurethane foams find its application wherever crack close up or hardening is compulsory, including: lateral rails, body-side joints, door panels, engine cradles, hydro formed replacements, underbody cross-car structure, frame rails, longitudinal structures, pillars, sills. It assistances to meet VOC and odor requirements as well as aging physical and mechanical properties for automotive interiors.
Asia Pacific accounted for the largest share in the market in terms of revenue, besides it is likely to linger its domination during forecasted period. Rising automobile industry in the Asia Pacific region is predictable to be powered by means of the rise in expenditure ability. Furthermore, governing advisors have placed down compulsory standards to upsurge the efficiency of fuels in vehicles, which has obliged corporations to participate in R&D activities in order to achieve sophisticated efficiency of fuel and make ground-breaking alterations for the designing of vehicles. Europe establishes as a significant market for automotive foams. Countries such as Germany, France drives the regional growth. Increase in the number of automotive industries in this region fuels the market growth in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2028 |
US$ 11,342.29 million |
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Market CAGR |
8.5% |
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By Type |
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By Application Type |
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By End User |
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By Region |
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The Automotive foams market size was valued at US$ 7,624.32 billion in 2022.
The Automotive foams market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The Automotive foams market key players are Armacell International S.A, Saint-Gobain, BASF SE, Rogers Corporation, Bridgestone Corporation, The Woodbridge Group, Recticel NV, Borealis AG, Vitafoams, Lear Corporation
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.