The global automotive foam market size
is anticipated to reach USD 50.44 billion by 2025, according to a new report by
Grand View Research, Inc. It is projected to expand at a CAGR of 9.8% during
the forecast period. Growing population, disposable income, and purchasing
power parity in emerging economies of Asia Pacific are expected to propel
demand for automobiles over the forecast period, thus impacting the market for
automotive foam.
Transitioning lifestyles and
wide availability of low-end sports models have positively impacted automotive
demand from 2014 to 2017. Easy financing of automobiles owing to the EMI
concept with attractive interest rates made it simpler and affordable for a
medium income group consumers to purchase a vehicle of their choice. Easy
availability of loans for vehicle purchase has also affected vehicle sales on
similar lines. The aforementioned factors played an important role in
propelling growth of the automotive industry both in developed as well as
developing regions and the trend is likely to continue in the forthcoming
years.
The market is expected to face
instability in terms of raw material supply over the coming years owing to
uncertain operation rates and plant closures by raw material manufacturers.
However, relationships between manufacturers and suppliers are expected to get
stronger, thus leading to stronger tie-ups at multiple distribution levels.
This is expected to be a critical factor for companies to gain a competitive
advantage over the forecast period.
Increasing demand for
automotive foam particularly in the emerging economies of North America,
Europe, Asia Pacific, and Central and South America, offers growth
opportunities for the manufacturers of automotive foam and related raw
materials to expand their product portfolios and market reach. The R&D initiatives
undertaken by some companies to enhance their product specifications and market
reach.
Substantial growth in
automotive industry in Asia Pacific has fueled the demand in the automotive
foam market in recent past. Significant presence of automotive and automotive
foam manufacturers has played a key role in driving the product demand over the
past few years and is expected to continue over the forecast period.
For full research report on Automotive Foam Market visit here:
https://www.grandviewresearch.com/industry-analysis/automotive-foams-market
Further key findings from the report
suggest:
- In terms of revenue, PU foam type is anticipated
to reach USD 2.62 billion by 2025, growing at a CAGR of 7.9% from 2018 to
2025
- Seating application segment held the largest market
share of over 42.8% in terms revenue in 2017. These foams are corrosion
resistant and can bear various types of severe conditions, which is
anticipated to bode well for growth
- The U.S. automotive foam market is anticipated to
reach USD 8.37 billion by 2025 owing to the presence of various
manufacturers and suppliers in the country
- The market is competitive with the presence of a
number of global, medium, and small scale companies catering to the global
and local demand
- Some of the key companies include Armacell
International S.A., BASF SE, Rogers Corporation, Bridgestone Corporation,
The Woodbridge Group, Recticel NV, Borealis AG and Saint-Gobain. The
companies use strategy such as mergers and acquisitions and portfolio
expansion to gain market share.
Get request sample of this report
here: https://www.grandviewresearch.com/industry-analysis/automotive-foams-market/request/rs1
Grand View Research has segmented the global
automotive foam market on the basis of type, application, end use, and region:
Automotive Foam Type Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
- Polyurethane (PU)
- Polyolefin (PO)
- Others
Automotive Foam Application Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Seating
- Door Panels
- Bumper System
- Others
Automotive Foam End-use Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Cars
- LCV
- HCV
Automotive Foam Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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