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Automotive Foams Market worth $40.83 Billion by 2019
The report “Automotive Foam Market by Types (Polyurethane, Polyolefin, Styrenic, Polyvinyl chloride, Phenolic, Melamine, & Others) and by Applications (Heavy Commercial Vehicles, Light Commercial Vehicles, and Passenger Cars) - Global Trends & Forecasts to 2019” defines and segments the global automotive foam market with an analysis and forecast of its global volume and value.
Browse 100 market data tables and 70 figures spread through 147 pages and in-depth TOC on “Automotive Foam Market by Types (Polyurethane, Polyolefin, Styrenic, Polyvinyl chloride, Phenolic, Melamine, & Others) and by Applications (Heavy Commercial Vehicles, Light Commercial Vehicles, and Passenger Cars) - Global Trends & Forecasts to 2019".
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The automotive foams market is estimated to witness a CAGR of 10.50% between 2014 and 2019, and is expected to generate a global market value of $40.83 billion by 2019.
The report also defines driving and restraining factors for the global automotive foam market with the analysis of trends, opportunities, burning issues, winning imperatives, strategic benchmarking and challenges. Some of the drivers include light weight nature, durability, increasing demand in end-user industries, & growing demand in developing nations. Some of the restraints include exposure risks & environmental impacts, and rising raw material cost. There are some opportunities which will change the dynamics of automotive foam industry in the years to come, which include increasing demand of automotive foam materials in major applications including seating, instrument panels, seals & NVH and bumper system. The market is forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) by both value and volume. The regional automotive foams market is further segmented on the basis of major application.
“Asia-Pacific: The Biggest Market of Automotive foams”
The Asia-Pacific region is the world’s largest market of automotive foams with a share of around 43.36% in terms of volume in 2013. China is the key consumer of automotive foams in Asia-Pacific. Rising passenger car and heavy commercial vehicle industry is driving the market in the region. Various merger & acquisitions, product launches, developments, and expansions in different industries have in turn made the region a potential growth market for automotive foams.
“Polyolefin: The Fastest-growing Type; while Seating–The Biggest Automotive foams Application”
Polyolefin foams can function over a wide range of temperatures reliably across different industry verticals. It is a versatile material for different applications distinctively in the automotive segments. The automotive applications demand for foams having durability and minimal weight. Polypropylene foams provide both, along with reduction in the overall component weight, and significantly lower cost. Also, the recyclability of polypropylene foams preserves the environment and helps with the conservation of resources, while meeting the escalating safety standards in the industry. The seating application of automotive foams has a wide scope for its expansion, which in turn would help in increasing the consumption for automotive foams globally. It is the biggest application of automotive foam and is projected to be worth $6,657.68 million by 2019.
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.), and Saint-Gobain (France) are some of the major manufacturers of automotive foam materials.
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