Automotive Foam Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Automotive Foam Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
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According to ‘Automotive Foam Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the automotive foam market size is expected to reach a value of nearly $ 36.18 billion in 2022 at a compound annual growth rate (CAGR) of 14.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The automotive foam market is expected to reach $ 54.26 billion in 2026 at a CAGR of 10.7%. The increase in demand for electric vehicles is expected to propel the growth of the automotive foam market going forward.
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The automotive foam market consists of sales of automotive foam products by entities (organizations, sole traders, and partnerships) that refer to automotive foams made up of polyurethane, olefins, and polystyrene. These foams are produced by combining polyols and diisocyanates, which are frequently derived from crude oil and other bio-based biomass. The foams are used in automobile seats, armrests, and headrests, where their cushioning properties help to reduce fatigue and stress.
Global Automotive Foam Market Trends
The rising use of bio-based materials has emerged as a key trend gaining popularity in the automotive foam market. Bio-based products can help the economy become more sustainable and reduce its reliance on fossil fuels. In addition, biobased materials protect the environment and reduce associated greenhouse gas emissions, which helps attract the rural economy. These bio-based materials are derived from organic carbon sources such as sugarcane, biomass, and potato corn that innovate new sustainable and lightweight automotive materials. Major companies operating in the automotive foam market are focused on providing technologically advanced bio-based materials to strengthen their market position. For instance, in March 2019, Trocellen, a German-based foam company, developed a bio-based cross-linked polyethylene foam certified by an accredited external laboratory. This innovative product’s raw material is derived from sugarcane biomass.
Global Automotive Foam Market Segments
The global automotive foam market is segmented:
By Type: Polyurethane (PU) Foam, Polyolefin (PO) Foam, Other Types
By Application: Seating, Door Panels and Watershields, Instrument Panels, Bumper System, Other Applications
By End-User Industry: Passenger Cars, Heavy Commercial Vehicles (HCVs), Light Commercial Vehicles (LCVs)
By Geography: The global automotive foam market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share.
Read more on the global automotive foam market report here
https://www.thebusinessresearchcompany.com/report/automotive-foam-global-market-report
Automotive Foam Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides automotive foam global market forecast, automotive foam global market trends, automotive foam global market overviews, analyzes and forecasts automotive foam global market size and growth for the global automotive foam market, automotive foam global market share, automotive foam global market segments and geographies, automotive foam global market players, automotive foam global market leading competitor revenues, profiles and market shares. The automotive foam global market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Automotive Foam Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: Armacell, BASF SE, Johnson Controls, Woodbridge Foam Corporation, Lear Corporation, Bridgestone Corporation, Recticel, The Dow Chemical Company, Saint-Gobain, Rogers Corporation, Borealis AG
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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