Global Automotive Foams Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Automotive Foams Market


The global Automotive Foams market size is projected to reach US$ 55.44 billion by 2026, from US$ 31.64 billion in 2020, at a CAGR of 9.8% during 2021-2026. The market is anticipated to be driven by the growth of global automotive industry, which has been experiencing growth and reaching pre-recession economic levels in some regions. Since 2014, there has been a positive outlook in the automobile sector in economies ranging from developed countries, such as U.S. to developing countries, such as India.

Growing population, in emerging economies from Asia Pacific, coupled with rising disposable income and purchasing power parity is expected to drive demand for automobiles over the forecast period. This factor is anticipated to bode well for the demand in this market during the forecast period.

Toluene Diisocyanate (TDI), polyols, ethane, and propane are the key raw materials used for manufacturing automotive foam. Fluctuations in prices of these raw materials are expected to impact the product demand over the forecast period. Integration across the value chain is expected to be a crucial factor, as most manufacturers are trying to manage costs, backward as well as forward integration has become essential. The demand for these raw materials from other application industries is expected to impact their availability. Other companies are also focusing on increasing their production capacities to meet the rising product demand.

The regulatory framework for the automotive foam market is governed by the U.S. Food and Drug Administration (FDA), the U.S. Environment Protection Agency (EPA), European Commission, Registration, Evaluation, Authorization, & Restriction of Chemicals (REACH), and European Chemicals Agency (ECHA). The framework specifies the chemical and physical dangers of raw materials and the general requirements for their labelling, storage and usage. The labelling, transport, usage, and storage of automotive foam and related raw materials is permitted, provided the safety regulations are stringently followed.

Market Segmentation, Outlook & Viewpoint: Global Automotive Foams Market

Type Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Polyurethane (PU)
  
Polyolefin (PO)
  
Others

Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Seating
  
Door Panels
  
Bumper System
  
Others

End-use Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Cars
  
LCV
  
HCV

Key Players, Recent Developments & Regional Insights: Global Automotive Foams Market

On the basis of application, the market is segmented into seating, door panels, and bumper systems and other applications. Seating application segment dominated the global market in terms of revenue in 2017. The increasing automobile production across the globe owing to rising disposable income and spending capacity is expected to impact overall market growth. Using foam in car seats provides support to the tailbone and back. As a result, the vehicle driver can sit for longer hours for conditions requiring longer travel time.

Automotive foam in door panels held a significant share of the market and is expected to witness steady growth over the forecast period. The increasing demand for vehicles in emerging economies owing to increasing disposable incomes, rapid urbanization, and changing lifestyles has directly impacted the demand for noise control products in automobiles. In addition, the growing market for replacement auto-parts and increasing customizations being done by customers post purchase is anticipated to augment the demand for automotive foam in door panels over the forecast period.

End-use Insights

In 2017, cars held the largest market share. Increasing demand for low emission vehicles has forced manufacturers to innovate and develop new technologies that help reduce the environmental impact caused. These trends are expected to drive automotive production and impact the market over the forecast period. With the growing working population in countries, such as India and China, the demand for all types of passenger cars is expected to rise. In addition, in countries such as U.S. there is an increase in sale of vintage vehicles. This rise in demand is expected to propel the overall demand in the market during the forecast period.

LCVs are expected to witness significant growth over the forecast period. LCVs were produced as a compact truck. They are built ruggedly, have lower operating costs, powerful fuel efficient engines, and are utilized for intra-city. Increasing production of LCV across the globe is expected to act as a key driver. Increasing demand for LCVs, such as delivery vans, pickup trucks, and minibuses in emerging economies across North America, Europe, and Asia Pacific owing to expanding logistic networks of various types of product manufacturers is likely to impact production, which in turn is expected to drive the product demand over the forecast period.

Regional Insights

Asia Pacific was the leading segment in 2017 in terms of revenue, and is expected to continue its dominance over the forecast period. Automobile industry in the region is expected to be fueled by the rise in spending capacity. In addition, regulatory authorities have laid down obligatory norms to increase the fuel efficiency of vehicles, which has compelled companies to invest in R&D to achieve higher engine efficiency and make innovative changes in the vehicle design.

Europe held a significant market share in 2017, attributed to the growing automotive industry in U.K. and Germany. The number of vehicles being used in U.K. has increasing over the years owing to a steady economic growth in the country. The presence of major automobile manufacturers in the region who are continuously increasing their production capacity is expected to impact the regional product demand over the forecast period.

Automotive Foams Market Share Insights

The market is characterized by the presence of various well-established players, such as Armacell International S.A. and Saint-Gobain. The companies face an intense competition as majority of them are among the top chemical producers and have a large consumer base. They are well-established and have strong and distribution networks. The key players cater to the demand from the automotive industry. The influence of major players on the market is quite high as majority of them have global presence.

Some of the key manufacturers present in the industry are Armacell International S.A., BASF SE, Rogers Corporation, Bridgestone Corporation, The Woodbridge Group, Recticel NV, Borealis AG, and Saint-Gobain.

Key Insights Covered: Global Automotive Foams Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Automotive Foams industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Automotive Foams industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Automotive Foams industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Foams industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Automotive Foams industry.

Research Methodology: Global Automotive Foams Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed 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 a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other