Automotive Foam Global Market Report 2024

Automotive foam, composed of materials formed by combining polyols and diisocyanates, plays a crucial role in various automotive applications. These foams, derived from sources like crude oil and bio-based biomass, find extensive use in car seats, armrests, and headrests, contributing to reduced fatigue and increased comfort for passengers.

The primary types of automotive foams include polyurethane (PU) foam, polyolefin (PO) foam, and other foams. Polyurethane (PU) foam, made from polyurethane polymer, comes in both solid and foam forms. The open cell structure of polyurethane foam allows for flexibility, making it suitable for various applications. Automotive foams are utilized in seats, door panels and watershields, instrument panels, bumper systems, and other components, catering to passenger cars, heavy commercial vehicles (HCVs), and light commercial vehicles (LCVs).

The automotive foam market research report is one of a series of new reports that provides automotive foam market statistics, including global market size, regional shares, competitors with an automotive foam market share, detailed automotive foam market segments, market trends and opportunities, and any further data you may need to thrive in the automotive foam industry. This automotive foam market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive foam market size has grown rapidly in recent years. It will grow from $40.81 billion in 2023 to $45.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The historical growth in the automotive foam sector can be attributed to factors such as stringent safety regulations, increased emphasis on customization and personalization, the demand for enhanced comfort and ergonomics, compliance with sound insulation requirements, and the need for effective thermal insulation in vehicles.

The automotive foam market size is expected to see rapid growth in the next few years. It will grow to $69.16 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The forecasted growth in the automotive foam sector can be attributed to factors such as the rise of autonomous vehicles, increasing emphasis on sustainability initiatives, integration of advanced safety features, incorporation of connectivity features, and the ongoing trend of urbanization. Notable trends in the forecast period include the adoption of 3D molded foams, the development of sustainable and biodegradable foam materials, the introduction of smart foam, and the use of multifunctional foam components. Additionally, there is a growing interest in breathable foam materials as a noteworthy trend in the automotive foam industry.

The surge in demand for electric vehicles (EVs) is poised to drive the expansion of the automotive foam market in the foreseeable future. The economic impact of COVID-19 has steered a decline in the demand for conventional petrol and diesel vehicles, while simultaneously accelerating the demand for electric and hybrid vehicles. This shift is primarily propelled by global initiatives aimed at combating climate change and achieving net-zero emissions, driving the transition towards emission-free transportation. The growing adoption of EVs contributes significantly to reducing fuel costs and transitioning consumption from petroleum-based products to locally produced power vehicles. This surge in demand for electric and hybrid vehicles significantly augments the need for automotive foam, ensuring passengers experience optimal comfort, safety, and security during their travels. For instance, the Global EV Outlook 2021 reported a 50% increase in consumer spending on electric vehicle purchases, reaching USD 120 billion in 2020 compared to 2019. Additionally, the global electric vehicle stock surged to 10 million units in 2020, signifying a notable 43% increase from 2019. Hence, the escalating demand for electric and hybrid vehicles is poised to be a driving force behind the growth of the automotive foam market.

The upsurge in disposable income is expected to be a pivotal driver propelling the automotive foam market. Disposable income, reflecting the surplus funds available for spending and saving after mandatory deductions, has witnessed a noticeable rise. This surge in spending capacity prompts consumers to invest more in automobiles, consequently heightening the demand for automotive foam. For example, India observed a notable increase in disposable personal income, surging from 238,573,760 INR Million ($2,869,262.20 million) in 2021 to 272,995,370 INR Million ($3,283,241.61 million) in 2022. Hence, the rise in disposable income has significantly contributed to the growth trajectory of the automotive foam market.

The growing utilization of bio-based materials represents a prominent trend gaining traction within the automotive foam market. These eco-friendly materials play a crucial role in fostering sustainability, reducing dependence on fossil fuels, and curbing greenhouse gas emissions, thereby attracting attention towards a more environmentally conscious economy. Derived from organic carbon sources like sugarcane, biomass, and potato corn, these bio-based materials innovate sustainable and lightweight automotive components. Key players within the automotive foam market are strategically focused on delivering technologically advanced bio-based materials to fortify their market position. For instance, in October 2021, Huntsman partnered with Catalisti for a research project aimed at developing innovative polyurethane foams for automotive applications. This collaborative initiative integrates bio-based materials into foam production, augmenting sustainability measures within the automotive industry.

Key players in the automotive foam market are actively pursuing innovative solutions, notably carbon-neutral products, aimed at assisting automobile manufacturers in mitigating their carbon footprint. Carbon-neutral products, designed to maintain a net-zero carbon footprint throughout their lifecycle, effectively balance the release of carbon emissions with an equivalent amount sequestered or offset. For instance, in April 2022, Woodbridge, a Canadian company specializing in material technologies for automotive and various industries, introduced TrimVisible™ BIO - an automotive seat foam that achieves carbon neutrality. This groundbreaking solution significantly reduces the carbon dioxide (CO2) footprint associated with seating foam, spanning from creation to disposal, while upholding high-performance standards. The foam's production involves replacing petroleum-based elements in polyurethane seating foam, resulting in the creation of a net-zero foam, thereby contributing to carbon emission reduction within the automotive sector.

In January 2022, Thor Industries, a US-based manufacturer of recreational vehicles (RVs), completed the acquisition of Elkhart Composites, aiming to enhance Thor Industries' RV manufacturing capabilities. Elkhart Composites specializes in manufacturing sustainable foamed polypropylene-based composite material named Elkboard, utilized in RVs for sidewalls and insulation purposes. This strategic acquisition is poised to bolster Thor Industries' ability to cater to customer needs by integrating sustainable foam materials like Elkboard into their RV manufacturing processes, aligning with the industry's sustainability goals.

Major companies operating in the in the automotive foam market report are 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

Asia-Pacific was the largest region in the automotive foam market in 2023. The regions covered in the automotive foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the automotive foam market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The automotive foam market consists of sales of open cell foam, closed cell foams, melamine foam, and natural fibers foams. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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