Automotive Foams Market Scope
Automotive foams are the polymer-based foams formed by combining two phases such as solid and gas together quickly to form the foam. The foam integrated with the air bubbles is used is known as the closed-cell structure they are comparatively rigid as compared to open-cell foams are generally flexible. Recently the use of automotive foams has been increased drastically across manufacturing Instrument Panels, Seating, Door Panels, Headliners, Water Shields, Gaskets, Seals, Noise-Vibration and Harshness (NVH) Solutions and many others. In addition, upsurging global automobile traffic will ultimately lead show significant growth for automotive foams over the forecasted period.
According to AMA, the Global Automotive Foams market is expected to see growth rate of 9.67%The Vendors having a strong hold in the market are Johnson Controls International, The Woodbridge Group, Bridgestone, BASF, and Recticel NV. Research Analyst at AMA estimates that United States and European Vendors will contribute to the maximum growth of Global Automotive Foams market throughout the predicted period.
Johnson Controls International plc (Ireland), The Woodbridge Group (Canada), Bridgestone Corporation (Japan), BASF SE (Germany), Recticel NV (Belgium), Vitafoam (United Kingdom), Armacell International GmbH (Germany), Dow Chemical Company (United States), Saint-Gobain S.A. (France) and Rogers Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Borealis AG (Austria).
Segmentation Overview
The study have segmented the market of Global Automotive Foams market by Type (Polyurethane, Polyolefin, Styrenic, Polyvinyl Chloride and Phenolic), by Application (Instrument Panels, Seating, Door Panels, Headliners, Water Shields, Gaskets, Seals, Noise-Vibration and Harshness (NVH) Solutions and Others) and Region with country level break-up.
On the basis of geography, the market of Automotive Foams has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Introduction to Automotive Foams with Weight Reducing Capabilities and Growing Need to Increase Fuel Efficiency of the Vehicle
Market Growth Drivers:
Upsurging Automobile Traffic across the Globe will Ultimately Increase the Demand for Automotive Foams and Provides Excellent Mechanical Strength than Other Lubricants
Challenges:
Stringent Government Regulations Associated with the Highly Regulated Automobile Industry
Restraints:
Increasing Raw Material Prices might Stagnate the Demand for Automotive Foams and Availability of Numerous Substitute Material like Metal Chromiums
Opportunities:
Enables Consumers to Automatically Resist from Wear and External Weather and Upsurging Prevalence of the Electronic Automobiles across the Developing and Developed Nations
Market Leaders and their Expansionary Development Strategies
On September 23, 2019, a global systems solution provider of fully-integrated foam products, "Woodbridge Group" has entered into a formal agreement to acquire all the shares in its joint venture, GSK High Polymer Technology Co. Ltd. (WGSK), from its partner GSK Corporation. The transaction will enable Woodbridge to enhance its growth opportunities with its customers located in China.
Key Target Audience
Automotive Foam Manufacturers, Automotive Foams Distributors and Suppliers, Automotive Foams International Traders, Research and Development Institutes, Automotive Industry Associations, Government Agencies, Upstream and Downstream Buyers and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.