In a recently published report, Automotive Foam Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automotive Foam Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Automotive Foam market is valued approximately at USD 37.13 Billion in 2018 and is anticipated to grow with a growth rate of more than 9.97% over the forecast period 2019-2026. Automotive foam is made up of solid and gas phase mixture to form a plastic foam. The automotive foams are available in different form types that is based on raw material used, olefins, polystyrene and polyurethane etc. and are produced by the use of crude oil as feedstock. The growth in automotive industry in emerging nations such as China and India propel the growth of market over the forecast years. Also, the versatile and unique physical properties of automotive foam and increasing use of automotive foam in end use industries accelerate the growth of market over the forecast years. Automotive foam is cost effective, weight reduction and low density in nature. Automotive foam offers low heat transfer and optimal insulator properties and provide extra comfort, flexibility to the passenger and softness anticipate to the growth of market over the forecast years.
Automotive foam has productive application in automotive industry and rise in growth of automotive industry propel the growth of market. For instance: According to the International Organization of Motor Vehicle Manufacturer, the global car production in 2017 was 97.2 million that is an increase of approx. 2.2 million from 2016 that is 95 million. Hence, rising growth in automotive industry across the globe and efficient application of automotive foam in automotive industry fuels the growth of market over the forecast years. Whereas, renewable feedstock for manufacturing green PU Foams is an opportunity for the growth of market. However, lack of proper disposable & recycling technique is a challenging factor that combat the growth of market over the upcoming years.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
The regional analysis of global Automotive Foam market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is accounts for largest share in the global automotive foam market due to the rise in application of automotive foam in the end use industries such as passenger and commercial vehicle. Similarly, rise in production of automobile is the factor accelerating the growth of global automotive foam market from between 2018-2026.
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Market player included in this report are:
Armacell
BASF SE
Johnson Controls
Woodbridge Foam Corporation
The DOW Chemical Company
Lear Corporation
Bridgestone Corporation
Recticel
Vitafoam
Saint-Gobain
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Interior application
Exterior application
By Type:
Polyurethane (PU)Foam
Polyolefin (PO)Foam
Other Foam
By End-user Industry:
Passenger cars
Heavy commercial vehicles (HCVs)
Light commercial vehicles (LCVs)
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Automotive Foam Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Automotive Foam Market, by Region, 2017-2026 (USD Billion)
1.2.2. Automotive Foam Market, by Application, 2017-2026 (USD Billion)
1.2.3. Automotive Foam Market, by Type, 2017-2026 (USD Billion)
1.2.4. Automotive Foam Market, by End-user Industry , 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Automotive Foam Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Automotive Foam Market Dynamics
3.1. Automotive Foam Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Automotive Foam Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Automotive Foam Market, by Application
5.1. Market Snapshot
5.2. Global Automotive Foam Market by Application, Performance – Potential Analysis
5.3. Global Automotive Foam Market Estimates & Forecasts by Application 2016-2026 (USD Billion)
5.4. Automotive Foam Market, Sub Segment Analysis
5.4.1. Interior application
5.4.2. Exterior application
Chapter 6. Global Automotive Foam Market, by Type
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