Automotive Foam Industry 2022 Size, Revenue, Growth Insights, Top Players, Recent Developments, and Forecast till 2030

 

Automotive Foam Industry Forecast

Automotive Foam Market is projected to be worth USD 80.27 billion by 2030, registering a CAGR of 10.23% during the forecast period (2021–2030).

Automotive foam has emerged as a new engineering material with multifunctional properties for a broad range of transportation applications. It is designed to increase structural strength as well as enhance vehicle safety, comfort, and acoustics. Automotive foam is used in the interior and exterior parts of vehicles. Polyurethane foams are significantly used for managing vehicle noise and vibration. It also helps to meet sustainability by increasing fuel efficiency and improving mobility.

Pricing Analysis

Automobile manufacturers are emphasizing on reducing the weight of vehicles to increase fuel efficiency and curb CO2 emissions. Serval Automotive Foam Industry manufacturers are developing innovative and high-quality automotive foam to enhance the efficiency of vehicles. For instance, polyurethane foam is commonly used in the automotive industry owing to its benefits. A car that weighs 1000 kg comprises approximately 100 kg of plastics of which around 15 kg is polyurethanes. Thus, the unique properties of automotive foam help automobile manufacturers to increase safety and enhance performance.

The price of automotive foam varies depending upon its application and requirement. The foams are differentiated based on mechanical strength flexibility and stiffness. Flexible polyurethane foam is majorly used for cushioning automobile parts. The price of polyurethane foam ranges from USD 3.50 per sheet to USD 5.5 per sheet. Polyether automotive foam costs around USD 4.89/kg.

Segmentation

By Type

• Polyurethane foam is a combination of lightweight and flexible materials with higher durability and strength. The flexible properties of polyurethane foam allow manufacturers to implement new designs. It is used in vehicle seats, cushions, door panels, dashboards, bumpers, and dashboards.
• Polyolefin (PO) foam is a lightweight and flexible foam that offers thermal insulation and flame resistance. It finds a wide range of applications in automotive interior parts such as headliners, door trim, and trunk mats.
• The other segment includes polyethylene and polyamide foams. These foams are used in various automobile parts.

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By Application

• Door panels act as an interface between the door and vehicle occupants. It is projected to meet a variety of design specifications in terms of aesthetics, functionality, and safety. Doors have an inner panel that comprises of central locking system and electronic windows. These panels consist of automotive foam covered with either textiles or plastics. Thus, door panels are among the toughest sets of requirements in car interior components, which are designed to channel loads onto the car body.
• Polyurethane foams are majorly used in automotive seat cushions. They enhance the aesthetic appeal of the seat.

By End-Use

• Positive economic outlook and rise in disposable incomes have increased the sale of cars in Asia-Pacific. Developing countries are witnessing a gradual shift from public mode of transportation to comfortable & convenient transportation. Also, the upper-middle-class population is switching from personal convenient transportation mode to luxurious cars.
• The demand for heavy commercial vehicles is growing rapidly owing to the development of road and infrastructure led by rapid industrialization. The increasing number of manufacturing industries across the globe has resulted in the expansion of distribution and logistic channels for goods & services, which is expected to augment the growth of the global automotive foam market.

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By Region

• North America: The US is the largest exporter of petroleum, aircraft parts, and cars that require heavy commercial vehicles to transport goods. Besides, the automotive industry in the region is growing at a significant rate, which is expected to increase the demand for automotive foam.
• Europe: The region has a large presence of major automobile manufacturers such as Volkswagen and Daimler, which is expected to boost the demand for automotive foam in the automotive industry.
• Asia-Pacific: The emergence of electric vehicles in China, India, and Japan is boosting the demand for automotive foam products.
• Latin America: Brazil is the major producer of textile, electronics, medicines, and paints. The increasing use of commercial vehicles to support the transaction of goods and services is propelling the regional market growth.
• Middle East & Africa: Heavy and light commercial vehicles play a vital role in the distribution and transportation of oil and gas in the region. In addition, increasing construction activities in UAE and Saudi Arabia has increased the use of heavy commercial vehicles in the transportation of construction material.

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