Automotive Foams Market Insights | Key Players: Johnson Controls (U.S.), Woodbridge Foam Corporation (Canada), Lear Corporation (U.S.), Bridgestone Corporation (Tokyo), BASF (Germany), Recticel (Belgium), Vitafoams (U.K.), Armacell (Germany), The Dow Chem
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This report follows both top-down and bottom-up approaches to estimate and forecast the global automotive foams market by volume and value. This report focuses on the global automotive foams market by its type, application, and region.
Asia-Pacific is the fastest growing market for automotive foams across the world in terms of value and volume, followed by Europe, North America, and RoW. The U.S. is the world’s largest consumer for automotive foams. Large passenger car production coupled with high growth of heavy commercial vehicles, and increasing demand of automotive foams in other potential applications make Asia-Pacific an attractive venue for expansion. The high availability of required feedstock, skilled man power for installation, and favorable government outlook will further boost the automotive foams market. Moreover, Europe enjoys a higher investor confidence due to favorable government policies and demand-supply gap that encourage capacity expansion in this region.
Europe is estimated to witness high growth rate, especially in countries, such as U.K. and Germany due to increasing premium passenger car production in the countries. BASF (Germany), Recticel (Belgium), Vitafoams (U.K.), Armacell (Germany), and Saint-Gobain (France) are some of the major manufacturers of automotive foams in the region. North America is expected to show decent growth in the forecasted period due to the increased demand from end-use industries especially light commercial vehicle industry (LCV). Some of the major market players present in the region are Johnson Controls (U.S.), Woodbridge Foam Corporation (Canada), Lear Corporation (U.S.) and The Dow Chemical Company (U.S.).
Automotive foams find various applications in automotive industry such as seatings, instrument panels, headliners, door panels & water shields, seal, gaskets & NVH, bumper system. Automotive foams offer various advantages, such as, environmental sustainability needs & energy savings, light weight, durability, thermal insulation, easy installation, superior fire resistance, increased density, and excellent acoustic properties. This market intelligence report on “automotive foams” makes an effort to estimate the market for automotive foams by type, application, end-user industries and region in terms of both value and volume.
The report categorizes automotive foams materials into three different types:
• Polyurethane (PU)
• Polyolefin (PO)
The report categorizes automotive foams materials into four different applications:
• Instrument panels
• Door panels & water shields
• Seal, gaskets & NVH
• Bumper system
The report categorizes automotive foams materials into three different end-user industries:
• Passenger cars
• Heavy Commercial Vehicles (HCV)
• Light Commercial Vehicles (LCV)
The global market for automotive foams is expected to reach $ 14,661.37 million by 2019. The global consumption for automotive foams is expected to register a CAGR of 7.45% in terms of volume, in the next five years.
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 used, majorly polyurethane, olefins, and polystyrene and are produced by the use of crude oil as feedstock. As of 2013, automotive foams accounted for 15-20% of the overall polymer foam market in terms of volume. The market for automotive foams is expected to increase in Asia-Pacific and Europe due to increasing end-user industries, such as passenger cars, and Heavy Commercial Vehicles (HCV) industries, in the regions. In Europe, the increasing demand for automotive foams can be attributed to the growing transportation industry, which is expected to register a CAGR of 9.00-10.00%, in terms of value in the forecasted period.
Light weight nature, durability, increasing demand in end-user industries, and rising demand from developing nations such as China & India is expected to drive the automotive foams market in the forecasted period. Exposure risks & environmental impacts, and rising raw material cost of automotive foams are expected to retard the growth of automotive foams market in Europe. Absence of cost-efficient disposal & recycling of some of the widely used automotive foams is the major challenge for the automotive foams manufacturers and end-users.
Johnson Controls (U.S.), Woodbridge Foam Corporation (Canada), Lear Corporation (U.S.), Bridgestone Corporation (Tokyo), BASF (Germany), Recticel (Belgium), Vitafoams (U.K.), Armacell (Germany), The Dow Chemical Company (U.S.), Rogers (U.S.), Saint-Gobain (France) are some of the major manufacturers of automotive foams materials globally.
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