Automotive Foam Global Market 2024 To Reach $69.16 Billion By 2028 At Rate Of 11.1%

Automotive Foam Market Size, Insights Forecast, Growth, Trends 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 10, 2024 /EINPresswire.com/ -- The automotive foam market has experienced robust growth in recent years, expanding from $40. 81 billion in 2023 to $45.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to safety regulations, customization and personalization, comfort and ergonomics, sound insulation requirements, thermal insulation.

What Is The Estimated Market Size Of The Global Automotive Foam Market And Its Annual Growth Rate?
The automotive foam market is projected to continue its strong growth, reaching $69.16 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to autonomous vehicles, sustainability initiatives, advanced safety features, connectivity features, increased urbanization.

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Growth Driver Of The Automotive Foam Market
The increase in demand for electric vehicles is expected to propel the growth of the automotive foam market going forward. While the economic effect of COVID-19 has dampened demand for petrol and diesel cars, demand for electric and hybrid vehicles has increased. Climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring. These EV vehicle shifts help the economy by reducing fuel costs and changing consumption from petroleum products to more locally produced power vehicles. These factors increased the demand for automobile foam, offering passengers maximum comfort, safety, and security during the drive.

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Which Market Players Are Driving The Automotive Foam Market Growth?
Key players in the automotive foam market include Armacell International Holding GmbH, BASF SE, Johnson Controls International plc, Woodbridge Foam Corporation, Lear Corporation.

What Are the Key Trends That Influence The Automotive Foam Market Size?
Major companies operating in the automotive foam market are developing innovative products, such as carbon neutral products, to help automobile manufacturers reduce their carbon footprint. Carbon-neutral products are items or services that, over their entire lifecycle, result in a net-zero carbon footprint, balancing the amount of carbon emissions released with an equivalent amount sequestered or offset.

How Is The Global Automotive Foam Market Segmented?
1) By Type: Polyurethane (PU) Foam, Polyolefin (PO) Foam, Other Types
2) By Application: Seating, Door Panels and Watershields, Instrument Panels, Bumper System, Other Applications
3) By End-User Industry: Passenger Cars, Heavy Commercial Vehicles (HCVs), Light Commercial Vehicles (LCVs)

Geographical Insights: Asia-Pacific Leading The Automotive Foam Market
Asia-Pacific was the largest region in the automotive foam market in 2023.The regions covered in the automotive foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Automotive Foam Market Definition
The automotive foam refers to materials produced by combining polyols and diisocyanates, which are frequently derived from crude oil and other bio-based biomass. The foams are used in automobile seats, armrests, and headrests, where their cushioning properties help to reduce fatigue and stress.

Automotive Foam Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global automotive foam market report covering trends, opportunities, strategies, and more
The Automotive Foam Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive foam market size, automotive foam market drivers and trends, automotive foam market major players, automotive foam competitors' revenues, automotive foam market positioning, and automotive foam market growth across geographies. The automotive foam market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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