Press release
Steady Expansion Forecast for Automotive Foam Market, Projected to Reach $76.46 Billion by 2029
Automotive Foam
Automotive Foam Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the automotive foam market has seen fast-paced growth in the past few years. The market that stood at $44.79 billion in 2024 is projected to surge to $49.57 billion in 2025, marking a compound annual growth rate (CAGR) of 10.7%. Factors such as safety regulations, customization and personalization, comfort and ergonomics, sound and thermal insulation requirements have driven the growth during the historic period.
Automotive Foam Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the automotive foam market is set to experience substantial growth, with its size predicted to expand to $76.46 billion by 2029, reflecting a compound annual growth rate (CAGR) of 11.4%. This projected growth within the forecast period can be ascribed to factors such as increased urbanization, advanced safety and connectivity features, sustainability initiatives, and the rise in autonomous vehicles. Significant trends predicted for the period include multifunctional foam components, smart foam, the use of sustainable and biodegradable materials, breathable foam materials, and 3D molded foams.
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What Are the Drivers Transforming the Automotive Foam Market?
The boost in electric vehicle interest is forecasted to catalyse the automotive foam market's advancement. Notwithstanding the fiscal influence of COVID-19 leading to a decline in petrol and diesel vehicle demand, a surge for electric and hybrid vehicles has been observed. Factors such as global warming and the ambition to reach carbon neutrality spur the worldwide transition towards emission-free transportation. Such an evolution in EV transportation bolsters the economy, minimizing fuel expenditures and pivoting consumption from oil products to locally manufactured power vehicles. These dynamics have amplified the necessity for automotive foam, providing travellers with optimum comfort, safety, and protection throughout their journey. In March 2024, the International Energy Agency, an intergovernmental organization based in France, reported approximately 14 million worldwide electric car registrations in 2023, a 35% escalation compared to the 10.5 million in the preceding year, 2022. In 2023, electric vehicles (EVs) comprised 18% of total car sales, a growth from 14% in 2022. The figures exhibit potent growth in the EV sector, with weekly registrations surpassing 250,000 in 2023. Battery-powered electric cars represented 70% of overall electric car inventory in 2023. Thus, the burgeoning demand for electric and hybrid vehicles is anticipated to stimulate the automotive foam market.
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What Long-Term Trends Will Define the Future of the Automotive Foam Market?
The increased adoption of impact-absorbing materials has become a prevalent trend in the automotive foam market. These specific materials are intended to soak up and scatter impact energy, reducing harm and safeguarding fragile parts such as those in electric vehicle batteries during mishaps or thermal incidents. Leading firms in the automotive foam market are concentrating on offering technologically superior shockless foam materials to solidify their market presence. For instance, in April 2024, Huntsman, an American chemical firm, introduced the Shokless polyurethane foam systems. This new lineup is tailored for potting and securing cells placed in electric vehicle (EV) batteries. It also includes products that act as moldable encapsulants for battery modules or packs. The Shokless foam systems present a versatile solution for preserving the structural robustness of EV batteries during impacts or thermal incidents. This product line comprises low to high-density foams that can be employed using standard polyurethane dispensing techniques, providing a wide processing window for improved handling adaptability.
Which Segments in the Automotive Foam Market Offer the Most Profit Potential?
The automotive foam market covered in this report is 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)
Subsegments:
1) By Polyurethane (PU) Foam: Flexible PU Foam, Rigid PU Foam, High-Density PU Foam, Low-Density PU Foam
2) By Polyolefin (PO) Foam: Ethylene Vinyl Acetate (EVA) Foam, Polyethylene (PE) Foam, Polypropylene (PP) Foam
3) By Other Types: Polyester Foam, Natural Foam, Melamine Foam, Air-filled Foam
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Which Firms Dominate the Automotive Foam Market by Market Share and Revenue in 2025?
Major companies operating in the automotive foam market include Armacell International Holding GmbH, BASF SE, Johnson Controls International plc, Woodbridge Foam Corporation, Lear Corporation, Bridgestone Corporation, Recticel Group, Dow Chemical Company, Compagnie de Saint-Gobain SA, Rogers Corporation, Borealis AG, Fritz Nauer AG, Adient plc, Foam Supplies Inc., Magna International Inc., Covestro AG, Huntsman International LLC, Sheela Foam Ltd., FoamPartner Group, Zotefoams plc, Sekisui Chemical Co. Ltd., UFP Technologies Inc., Rogers Foam Corporation, Foam Supplies Inc., Future Foam Inc., Vitafoam Products Canada Limited, Foamcraft Inc., Foamex Innovations Holdings LLC, General Plastics Manufacturing Company, Grand Rapids Foam Technologies LLC
Which Regions Offer the Highest Growth Potential in the Automotive Foam Market?
Asia-Pacific was the largest region in the automotive foam market in 2024. The regions covered in the automotive foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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