San Francisco, 4 April 2019: The Report Automotive Foams Market Size, Share & Trends Analysis Report By Type
(Polyurethane, Polyolefin), By Application (Seating, Door Panels), By End Use
(Cars, LCV, HCV), By Region, And Segment Forecasts, 2019 - 2025
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.
Access Research Report of Automotive
Foam Market @ 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.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
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
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Automotive Foam Market@ https://www.grandviewresearch.com/press-release/global-automotive-foams-market
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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