Automotive Foam Market Size to Reach $73.95 Billion by 2029 | Growth at 10.9% CAGR Forecast

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What is the Projected Market Size of the Automotive Foam Industry?
In recent years, the size of the automotive foam market has significantly expanded. The market, which is expected to rise from $44.79 billion in 2024 to $48.95 billion in 2025, will have a compound annual growth rate (CAGR) of 9.3%. Factors such as safety regulations, customization needs, comfort and ergonomics, sound and thermal insulation requirements have all contributed to the growth observed during the historic period.

What Will Be the Size of the Automotive Foam Market by 2029?
The size of the automotive foam market is predicted to expand quickly in the upcoming years, reaching a value of $73.95 billion in 2029 with a compound annual growth rate (CAGR) of 10.9%. The expected growth during this period is linked to various factors like the development of self-driving vehicles, initiatives towards sustainability, enhanced safety measures, connectivity features, and increased urbanization. Significant market trends in this forecast period encompass 3D molded foams, environment-friendly and decomposable materials, intelligent foam, multi-functional foam components, and breathable foam materials.

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What Are the Key Drivers Accelerating Growth in the Automotive Foam Market?
The anticipated surge in electric vehicle demand is predicted to catalyze the expansion of the automotive foam market. The economic impact of the pandemic has muted the demand for gasoline and diesel vehicles while the appetite for electric and hybrid vehicles is on the upswing. The push towards controlling global warming and fulfilling net-zero emissions ambitions is steering the worldwide move towards pollution-free transport. This transition to electric vehicles supports the economy by slashing fuel expenses and shifting consumption from oil-based products towards locally sourced power vehicles. These factors have amplified the need for automobile foam that ensures superior comfort, safety, and protection during transit. Reporting in March 2024, the France-based International Energy Agency noted that approximately 14 million electric cars were recorded worldwide in 2023, a substantial 35% increment from the 10.5 million logged in 2022. Electric cars comprised 18% of overall car sales in 2023, climbing up from 14% in 2022. This expansion indicates a robust drive in the electric vehicle market, with weekly registrations surpassing 250,000 in 2023. Battery electric vehicles were responsible for 70% of the total electric car stock in 2023. Consequently, the escalating demand for electric and hybrid vehicles will propel the automotive foam market.

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How Is the Automotive Foam Market Segmented by Type, Application, and Region?
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

What Are the Key Trends Driving Growth in the Automotive Foam Market?
The growing popularity of shockless materials marks a central trend in the automotive foam market. Shockless substances, uniquely designed to absorb and dispel impact energy, work to limit damage and shield sensitive parts, such as the ones in electric vehicle batteries, during thermal occurrences or crashes. Companies dominant in the automotive foam market are prioritizing the supply of technologically sophisticated shockless foam materials to fortify their standing in the market. For example, Huntsman, an American chemical company, introduced the Shokless polyurethane foam systems in April 2024. This fresh range is designed to pot and secure cells mounted in electric vehicle (EV) batteries, including products that double as moldable encapsulants for battery modules or packs. Shokless foam systems provide a multifunctional solution safeguarding EV batteries' structural integrity during thermal incidents or collisions. The range includes low to high-density foams, applicable via standard polyurethane dispensing techniques, providing a wide processing window to enhance handling flexibility.

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Who Are the Leading Companies Driving Growth in the Automotive Foam Market?
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 Is the Leading Region in the Global 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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This release was published on openPR.