Automotive Foam Market – Global Trends & Forecasts

The global market for automotive foams is growing at a sharp pace with Asia-Pacific as a leading consumer, followed by Europe, North America, and RoW. The major applications for automotive foams are seating, instrument panels, headliners, door panels & water shields, seals, gaskets & NVH, and bumper system. Seating is the largest application for automotive foams accounting for a share of 45.77%, in terms of value in 2013. The Asia-Pacific region, with a CAGR of 7.67%, is currently the fastest-growing market for automotive foams in terms of volume.

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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.

Revenue pockets

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.

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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.).