Automotive Foam Market Forecasts to 2030 - Global Analysis By Foam Type(Polyurethane (PUF), Polyolefin (POs), Polystyrene (PS), Polyethylene (PE), Polypropylene (PP), Poly(vinyl chloride) (PVC), Polycarbonate (PC) and Other Foam Types), Raw Material, Application, End User and By Geography
According to Stratistics MRC, the Global Automotive Foam Market is accounted for $35.05 billion in 2023 and is expected to reach $68.75 billion by 2030 growing at a CAGR of 10.1% during the forecast period. Automotive foam is a specialised substance used for thermal insulation. It is solid polymeric foam based on the chemistry of polyurethane. They are generated using crude oil as a feedstock and come in a variety of foam kinds depending on the raw ingredients utilised, namely polyurethane, olefins, and polystyrene. Automotive foams are used in the automobile industry because of their insulating, vibration-dampening, sound-absorbing, and lightweight characteristics.
According to the International Trade Administration's research reports, domestic automotive production will be increased by 35 million by 2025.
Increasing demand for electric vehicles
The transition of the entire world to emissions-free transportation is being driven by concerns about global warming and initiatives to attain net-zero emissions. By lowering gasoline prices and rerouting consumer spending to more locally produce electric automobiles, these EV car transitions benefit the economy. The demand for automotive foam, which offers the highest level of comfort, security, and safety for passengers while driving, rose as a result of these considerations.
Fluctuations in raw material prices
Raw materials like as polyurethane, polyethylene, and polypropylene are necessary for the production of vehicle foam. But because of supply and demand, political turmoil, and weather-related events, their prices are subject to fluctuations in the market. The fluctuation in raw material prices may make it challenging for manufacturers to maintain consistent pricing, which might have an impact on their profitability and limit their capacity to expand or invest in new technologies.
Growing demand for polyurethane foams
Numerous advantages come from using polyurethanes and polyols. Acoustical qualities, airbag coverings, insulating features, and cushioning capabilities are a few benefits. Major automakers have started modernizing their goods by adding foams for impact absorption for customer safety and to lessen tiredness and stress. Since the majority of customers now favour comfortable driving, polyurethane foams are predicted to have considerable growth throughout the projection period due to their numerous benefits, including flexibility and cost effectiveness.
Despite its importance, automotive foam is hazardous for the environment. Foam's plastic or rubber components decompose into small, poisonous particles as it ages in landfills. The pollutants pollute groundwater, streams, and the land. We produce a more hazardous environment as more foam is thrown away. It might take hundreds of years for foam to break down and is not biodegradable. Polyurethane foams also burn quickly, emitting a lot of heat, perilous fumes, and dense smoke. These problems are collectively hampering the market expansion.
The COVID-19 epidemic has had a substantial influence on the global market for automotive foam. The pandemic has caused job losses and lowered consumer spending, which has impacted demand for automobiles and, as a result, automotive foam. COVID-19 also messed up the raw material and production supply chains for the vehicle foam industry. As a result, production was delayed, which had an effect on the availability of automotive foam goods.
The polyurethane (PUF) segment is expected to be the largest during the forecast period
The polyurethane (PUF) segment is estimated to have a lucrative growth. Demand for PU foam is anticipated to be impacted by the growing use of foam-based components for automotive parts and vehicle interiors. It is one of the most crucial materials used in the manufacture of automobiles because of its superior mechanical strength capabilities, capacity to reduce weight, resistance to wear, and resistance to the elements. Numerous car pieces, such as seats, armrests and headrests, door panels, bumpers, and other sections, employ PU foam. PU foams increase fuel economy by lowering the vehicle's total weight.
The light commercial vehicles (LCV) segment is expected to have the highest CAGR during the forecast period
The light commercial vehicles (LCV) segment is anticipated to witness the fastest CAGR growth during the forecast period. LCVs are used for intra-city travel because they are built toughly, have minimal running expenses, and have strong, fuel-efficient engines. Due to the expanding logistical networks of different types of product manufacturers, rising demand for LCVs, such as delivery vans, pickup trucks, and minibuses in emerging economies throughout North America, Europe, and Asia Pacific, is likely to have an impact on production, which in turn is expected to fuel demand for the product during the forecast period.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing customer desires for their own personal mobility, rising buying power, and affordable models released by automakers. According to production output and yearly sales, China is regarded as the world's largest market for automobiles. Sales of gas-powered automobiles surged as a result of government attempts in China to boost the country's economy, which is encouraging for the automotive foams industry. Additionally, it is anticipated that the continuing negotiations between the Chinese government and the producers of electric cars to prolong the subsidies for electric vehicle sales would boost sales of electric vehicle sales as well as those of automotive foams in the nation.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the expanding automotive industries in Germany and the UK. The number of automobiles being utilized in the UK has been steadily increasing. Unprecedented shifts are taking place in both Europe and Africa's mining industries. The expansion of mining operations may lead to increased demand for mining trucks, which are big commercial vehicles utilized in mining operations. This might have a favourable effect on the automotive foams industry. During the projection period, demand for the product is anticipated to be impacted by the presence of significant automakers in the region, which are steadily expanding their manufacturing capacity.
Key players in the market
Some of the key players profiled in the Automotive Foam Market include BASF SE, The Dow Chemical Company , DuPont, Bridgestone Corporation, Borealis AG, Recticel NV, Johnson Controls, Huntsman Corporation, Paul Bauder GmbH & Co. KG, Saint-Gobain, CT Formpolster GmbH, Woodbridge Foam Corporation, Sheela Foam Ltd, Vita (Holdings) Limited, Asahi Kasei Corporation, Covestro, Zotefoams Plc., Rogers Corporation, Fostek Corporation and Lear Corporation.
In May 2023, Huntsman announced the development of innovative polyurethane, carbon nanotube and epoxy materials at The Battery Show this week, which are all designed to help improve the integration of batteries into electric vehicles and enhance their protection and performance
In September 2022, Covestro introduced more sustainable polyether polyols based on bio-circular raw materials. Like TDI and MDI, the polyols are produced with the help of the mass balance approach using renewable precursors – from biowaste and residual materials – which are allocated to the products by calculation.
In July 2022, Rogers Corporation launched PORON® 92PL, the latest material addition to the PORON® 4790-92 family of extra soft, slow rebound polyurethane foams. PORON 92L polyurethane is conformable yet returns to its original shape, allowing for long-term performance in smart devices such as smartphones, laptops, tablets and smart wearable devices.
In March 2022, Borealis Brasil S.A. has launched the first Borealis Circular Economy Solutions (CES) grade for automotive applications, Borcycle™ ME1490SYB. With 10% talc filler and 47% recycled material content, this PP compound is the first automotive grade in the Borcycle™ portfolio of more sustainable recycled polyolefins (rPO) solutions. The grade has been approved by Stellantis and is being used in the new Fiat Strada, absolute best-selling vehicle in its category in South America.
Foam Types Covered:
• Polyurethane (PUF)
• Polyolefin (POs)
• Polystyrene (PS)
• Polyethylene (PE)
• Polypropylene (PP)
• Poly(vinyl chloride) (PVC)
• Polycarbonate (PC)
• Other Foam Types
Raw Materials Covered:
• Naptha & Gas Oil
• Methylene Diphenyl Isocyanate (MDI)
• Toluene Diisocyanate (TDI)
• Water shields
• Door Panels
• Instrument Panels
• Bumper System
• Seals & Gaskets
• Bumper System
• Other Applications
End Users Covered:
• Passenger Vehicles
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Foam Market, By Foam Type
5.2 Polyurethane (PUF)
5.3 Polyolefin (POs)
5.4 Polystyrene (PS)
5.5 Polyethylene (PE)
5.6 Polypropylene (PP)
5.7 Poly(vinyl chloride) (PVC)
5.8 Polycarbonate (PC)
5.9 Other Foam Types
6 Global Automotive Foam Market, By Raw Material
6.2 Naptha & Gas Oil
6.3 Methylene Diphenyl Isocyanate (MDI)
6.4 Toluene Diisocyanate (TDI)
7 Global Automotive Foam Market, By Application
7.2 Water shields
7.4 Door Panels
7.5 Instrument Panels
7.6 Bumper System
7.8 Seals & Gaskets
7.9 Bumper System
7.10 Other Applications
8 Global Automotive Foam Market, By End User
8.2 Passenger Vehicles
8.3 Light Commercial Vehicles (LCV)
8.4 Heavy Commercial Vehicles (HCV)
9 Global Automotive Foam Market, By Geography
9.2 North America
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
11 Company Profiling
11.1 BASF SE
11.2 The Dow Chemical Company
11.4 Bridgestone Corporation
11.5 Borealis AG
11.6 Recticel NV
11.7 Johnson Controls
11.8 Huntsman Corporation
11.9 Paul Bauder GmbH & Co. KG
11.11 CT Formpolster GmbH
11.12 Woodbridge Foam Corporation
11.13 Sheela Foam Ltd
11.14 Vita (Holdings) Limited
11.15 Asahi Kasei Corporation
11.17 Zotefoams Plc.
11.18 Rogers Corporation
11.19 Fostek Corporation
11.20 Lear Corporation
List of Tables
1 Global Automotive Foam Market Outlook, By Region (2021-2030) ($MN)
2 Global Automotive Foam Market Outlook, By Foam Type (2021-2030) ($MN)
3 Global Automotive Foam Market Outlook, By Polyurethane (PUF) (2021-2030) ($MN)
4 Global Automotive Foam Market Outlook, By Polyolefin (POs) (2021-2030) ($MN)
5 Global Automotive Foam Market Outlook, By Polystyrene (PS) (2021-2030) ($MN)
6 Global Automotive Foam Market Outlook, By Polyethylene (PE) (2021-2030) ($MN)
7 Global Automotive Foam Market Outlook, By Polypropylene (PP) (2021-2030) ($MN)
8 Global Automotive Foam Market Outlook, By Poly(vinyl chloride) (PVC) (2021-2030) ($MN)
9 Global Automotive Foam Market Outlook, By Polycarbonate (PC) (2021-2030) ($MN)
10 Global Automotive Foam Market Outlook, By Other Foam Types (2021-2030) ($MN)
11 Global Automotive Foam Market Outlook, By Raw Material (2021-2030) ($MN)
12 Global Automotive Foam Market Outlook, By Naptha & Gas Oil (2021-2030) ($MN)
13 Global Automotive Foam Market Outlook, By Methylene Diphenyl Isocyanate (MDI) (2021-2030) ($MN)
14 Global Automotive Foam Market Outlook, By Toluene Diisocyanate (TDI) (2021-2030) ($MN)
15 Global Automotive Foam Market Outlook, By Polyol (2021-2030) ($MN)
16 Global Automotive Foam Market Outlook, By Ethane (2021-2030) ($MN)
17 Global Automotive Foam Market Outlook, By Propane (2021-2030) ($MN)
18 Global Automotive Foam Market Outlook, By Application (2021-2030) ($MN)
19 Global Automotive Foam Market Outlook, By Water shields (2021-2030) ($MN)
20 Global Automotive Foam Market Outlook, By Seating (2021-2030) ($MN)
21 Global Automotive Foam Market Outlook, By Door Panels (2021-2030) ($MN)
22 Global Automotive Foam Market Outlook, By Instrument Panels (2021-2030) ($MN)
23 Global Automotive Foam Market Outlook, By Bumper System (2021-2030) ($MN)
24 Global Automotive Foam Market Outlook, By Headliners (2021-2030) ($MN)
25 Global Automotive Foam Market Outlook, By Seals & Gaskets (2021-2030) ($MN)
26 Global Automotive Foam Market Outlook, By Bumper System (2021-2030) ($MN)
27 Global Automotive Foam Market Outlook, By Other Applications (2021-2030) ($MN)
28 Global Automotive Foam Market Outlook, By End User (2021-2030) ($MN)
29 Global Automotive Foam Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
30 Global Automotive Foam Market Outlook, By Light Commercial Vehicles (LCV) (2021-2030) ($MN)
31 Global Automotive Foam Market Outlook, By Heavy Commercial Vehicles (HCV) (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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