Market Analysis: Global Automotive Foam Market
Global Automotive Foam Market is expected to reach USD 60.83 billion by 2025, from USD 38.35 billion in 2017 growing at a CAGR of 13.5% during the forecast period of 2018 to 2025.The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Automotive Foam Market
Automotive foams are made up of a solid and gas phase mixed together to form a plastic foam. They are available in different foam types based on raw materials. Polyolefin foams can function over a wide range of temperatures reliably across different industry verticals. It is a versatile material for different applications distinctively in the automotive segments. The automotive applications demand for foams having durability and minimal weight. Polypropylene foams make available both, along with reduction in the global component weight, and ominously lower cost. Also, the recyclability of polypropylene foams preserves the environment and helps with the conservation of resources, while meeting the increasing safety standards in the industry. Automotive foams are largely used in all types of vehicles including light commercial vehicles, heavy commercial vehicles and passenger cars. Increasing use of automotive foams in seating industry is expected to drive the market globally. The major driver for automotive foam consumption comes from the increasing demand in developing countries tied with growing manufacturer’s inclination for automotive foams products in commercial vehicle 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 June 2014, The DOW Chemical Company has launched its first emission-free Polyurethane (PU) foam solution for interior applications. In Jan 2016, Armacell, a leading insulation foam producer, launched first foam insulation production plant in Russia.
Major Market Drivers and Restraints:
- Growth in end-user industries in emerging nations
- Versatility and unique physical properties
- Economic slowdown
- Proper disposal & recycling technique
Market Segmentation: Global Automotive Foam Market
- Based on type the market is segmented polyurethane, polyolefin, styrenic, polyvinyl chloride, phenolic, melamine, & others.
- On the basis of application the market is classified heavy commercial vehicles, light commercial vehicles, and passenger cars and other automotive foam.
- Based on end user application the market is classified passenger cars, light commercial vehicles, heavy commercial vehicles.
- Based on geography the global automotive foams market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
Competitive Analysis: Global Automotive Foam Market
The global automotive foams market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive foams market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Automotive Foam Market
Some of the major players operating in market are Johnson Controls, Woodbridge Foam Corporation, Lear Corporation, Bridgestone Corporation, BASF, Recticel, Vitafoams, Armacell, The Dow Chemical Company, Rogers, and Saint-Gobain among Others.
Research Methodology: Global Automotive Foam Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others