The Latest Automotive Foam Industry Statistics Explained
The global automotive foam market size was valued at $27.5 billion in 2020.
The statistic indicates that in 2020, the total market size of automotive foam worldwide was estimated to be $27.5 billion. This figure represents the total value of automotive foam products sold and consumed within the global market for that year. The market size of automotive foam is influenced by various factors such as the demand for lightweight materials, automotive industry dynamics, technological advancements, and consumer preferences. This statistic provides insights into the scale and economic value of the automotive foam industry on a global scale, demonstrating its significance within the automotive manufacturing sector.
The automotive foam industry is projected to reach $67.50 billion by 2028.
The statistic indicates that the automotive foam industry is expected to grow substantially, reaching a market value of $67.50 billion by the year 2028. This projection suggests an increasing demand for automotive foam products, which are widely used in various applications within the automotive sector, such as seating, insulation, NVH (noise, vibration, and harshness) control, and impact protection. Factors driving this growth may include technological advancements, expanding automotive production, and rising consumer preferences for enhanced comfort and safety features in vehicles. This projection serves as a valuable insight for industry stakeholders, investors, and decision-makers to understand the potential opportunities and market dynamics within the automotive foam sector over the next few years.
The automotive foam industry is projected to grow at a CAGR of 13.6% during the forecast period of 2021-2028.
The statistic indicates that the automotive foam industry is expected to experience strong and consistent growth over the forecast period of 2021-2028, with a Compound Annual Growth Rate (CAGR) of 13.6%. This means that on average, the industry’s revenue is projected to increase by 13.6% annually over the specified period. Such a high CAGR suggests that the demand for automotive foam products is likely to rise significantly, potentially driven by factors such as increasing vehicle production, technological advancements, and the growing focus on lightweight and fuel-efficient vehicles. Overall, this projection signifies a promising outlook for the automotive foam industry in the coming years.
The polyurethane foams dominated the global automotive foam market with nearly 61% of total volume in 2016.
The statistic indicates that polyurethane foams held a significant share of the global automotive foam market in 2016, accounting for approximately 61% of the total volume. This dominance signifies the popularity and widespread usage of polyurethane foams in the automotive industry due to their favorable properties such as lightweight, durability, and impact resistance. Manufacturers and consumers alike may prefer polyurethane foams for a variety of automotive applications, including seating, interior trim, and insulation, contributing to their substantial market presence. This statistic suggests that polyurethane foams are a key player in the automotive foam market, with their dominance reflective of their strong performance and acceptance within the industry.
The automotive foam market in Asia Pacific is expected to display the fastest-growth, accounting for over 54% of the volume by 2025.
This statistic indicates that the automotive foam market in the Asia Pacific region is projected to experience the most rapid expansion compared to other regions, with an estimated share of over 54% of the total market volume by the year 2025. This suggests that the demand for automotive foam products in countries within the Asia Pacific region is expected to significantly increase over the coming years, likely driven by factors such as rising automotive production, increased consumer demand for vehicles, and advancements in technology leading to the adoption of foam materials in automotive applications. The growth in the automotive foam market in Asia Pacific presents opportunities for industry players to capitalize on this expanding market segment and cater to the evolving needs of the automotive industry in the region.
The use of automotive foam for seating applications accounted for 50% revenue share in 2016.
This statistic indicates that within the automotive industry in 2016, the revenue generated from the use of automotive foam specifically for seating applications represented half (50%) of the total revenue. This suggests that the demand for automotive foam in seating applications was significant, demonstrating its importance and prevalence in the market during that time. The data highlights the substantial contribution of foam materials to the automotive sector, underscoring the significance of seating applications within this industry segment.
Automotive industry makes up around 28% of the overall polyurethane market.
This statistic indicates that the automotive industry accounts for approximately 28% of the total market demand for polyurethane products. Polyurethane is a versatile material used in various applications such as foam insulation, coatings, and adhesives, with a significant portion of its usage attributed to the automotive sector. This high demand from the automotive industry highlights the importance of polyurethane as a key material in manufacturing processes within the sector. The statistic also suggests that developments and trends within the automotive industry can greatly influence the demand and growth of the polyurethane market as a whole.
North America automotive foam market is set to surpass $3 billion by 2024.
This statistic indicates that the North America automotive foam market is projected to achieve a value exceeding $3 billion by the year 2024. This forecast suggests the increasing demand for automotive foam products within the North American region, likely driven by factors such as the growing automotive industry, changing consumer preferences for comfort and safety features in vehicles, and advancements in foam technologies. The market’s anticipated growth reflects opportunities for foam manufacturers and suppliers to capitalize on the expanding automotive sector in North America, highlighting the positive outlook for this segment in the upcoming years.
Passenger cars segment is predicted to witness 4% growth rate till 2024.
The statement indicates that the passenger cars segment is expected to experience a 4% increase in growth rate over the period leading up to 2024. This suggests that the demand and sales of passenger cars are anticipated to rise steadily at a rate of 4% per year until the year 2024. Such growth could be attributed to factors such as improving economic conditions, increased consumer confidence, advancements in vehicle technology, and changing consumer preferences towards passenger cars. This prediction of growth in the passenger cars segment signifies a positive outlook for the industry stakeholders, as it suggests potential opportunities for increased market share, revenue, and expansion within this particular automotive sector.
Polyurethane foam is projected to exceed $6 billion by 2024 due to their extensive usage in vehicles.
The statistic that polyurethane foam is projected to exceed $6 billion by 2024 highlights the substantial growth in demand for this material, driven primarily by its widespread use in vehicles. Polyurethane foam is valued for its versatility, durability, and lightweight properties, making it an ideal material for various automotive applications such as seating, insulation, and soundproofing. As the automotive industry continues to innovate and prioritize comfort, safety, and efficiency in vehicle design, the demand for polyurethane foam is expected to rise significantly, resulting in a projected market value exceeding $6 billion by 2024. This statistic underscores the importance of polyurethane foam as a key component in the automotive sector and reflects the ongoing trend of technological advancements shaping the future of vehicle manufacturing.
The flexible foam market size from automotive applications was over $9 Billion in 2019.
The statistic that the flexible foam market size from automotive applications was over $9 billion in 2019 indicates the total revenue generated from the sales of flexible foam products specifically used in the automotive industry during that year. This figure represents the substantial economic value of flexible foam materials that are employed in various components within vehicles, such as seating, insulation, and soundproofing. The size of the market suggests a significant demand and utilization of flexible foam products by automotive manufacturers, highlighting the importance of these materials in the production and performance of modern vehicles. This statistic serves as a key indicator of the thriving market and the industry’s reliance on flexible foam solutions for automotive applications.
E-commerce distribution channel of automotive foam is estimated to reach a valuation of $4.5 Billion by 2028.
This statistic indicates the projected growth and value of the e-commerce distribution channel specifically for the automotive foam industry, with an estimated valuation of $4.5 billion by the year 2028. This suggests a significant anticipated increase in online sales of automotive foam products over the next several years. The rise in e-commerce for automotive foam distribution could be driven by factors such as increasing demand for automotive components online, improved accessibility to digital platforms, and advancements in logistics and supply chain management. This statistic highlights the growing importance of e-commerce as a key distribution channel for the automotive foam sector, underscoring the shifting dynamics of the industry towards online retail platforms.
The North American automotive foam market was valued at almost $7 billion in 2019.
The statistic indicates that in 2019, the market for automotive foam in North America was estimated to be worth nearly $7 billion. Automotive foam is a key material used in vehicles for various applications such as seating, interior trims, insulation, and acoustics. The size of the market highlights the significant demand for automotive foam products in North America, driven by factors such as the growing automotive industry, technological advancements that require specialized foam materials, and consumer preferences for comfort and safety features in vehicles. This statistic is important for industry stakeholders, investors, and policymakers to understand the market trends, dynamics, and opportunities within the automotive foam sector in North America.
The global automotive foam market for passenger vehicles to showcase 7.9% CAGR during 2020-2027.
This statistic indicates that the global automotive foam market specific to passenger vehicles is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.9% between the years 2020 and 2027. This suggests a steady and significant increase in the demand for automotive foam in the passenger vehicle sector over the specified timeframe. Factors driving this growth could include technological advancements leading to increased use of foam materials in vehicle production, rising consumer preferences for comfort and safety features in vehicles, and an overall expansion of the automotive industry worldwide. Manufacturers and stakeholders in the automotive foam market may need to adapt to this projected growth by investing in production capacities, innovating product offerings, and exploring new market opportunities to capitalize on the expected market expansion.
The market of PU foam in Europe is expected to reach $6 billion by 2021.
This statistic indicates that the market size of polyurethane (PU) foam in Europe is projected to achieve a total value of $6 billion by the year 2021. This growth forecast suggests a significant increase in both the production and consumption of PU foam products within the European market, driven by factors such as demand from various industries including construction, automotive, and furniture. The expansion of the market value signifies a promising outlook for PU foam manufacturers and suppliers as they capitalize on the growing opportunities and potential for revenue generation in Europe.
The Middle East & Africa region is projected to expand at a CAGR of 8.5% during the period 2018-2025.
This statistic indicates that the Middle East & Africa region is expected to experience robust economic growth over the period from 2018 to 2025. The Compound Annual Growth Rate (CAGR) of 8.5% suggests that the region’s economy is forecasted to grow at a steady and strong pace during this timeframe. This growth rate signifies that the region’s GDP or other relevant economic indicators are projected to increase by an average of 8.5% annually over the specified period. Such expansion can be attributed to various factors such as increasing investments, infrastructure development, favorable government policies, and emerging industries within the Middle East & Africa region.
Rigid foam application is expected to grow at a CAGR of 9.5% between 2018 and 2025.
This statistic indicates that the application of rigid foam is projected to experience a Compound Annual Growth Rate (CAGR) of 9.5% over the period from 2018 to 2025. This suggests that the demand for rigid foam, which is commonly used in the construction and insulation industries, is expected to increase steadily at a rate of 9.5% per year during this period. Such growth could be driven by factors such as expanding construction projects, increasing awareness about energy efficiency, and regulatory requirements for improved insulation standards. The CAGR provides a standardized way to compare growth rates over a specific timeframe and can be used to assess the long-term performance and potential of the rigid foam market.
The automotive foam for commercial vehicles sector is predicted to witness growth at nearly 9% CAGR till 2027.
This statistic indicates that the market for automotive foam used in commercial vehicles is expected to experience strong growth over the coming years, with a Compound Annual Growth Rate (CAGR) of approximately 9% until 2027. This suggests that there is increasing demand for automotive foam in commercial vehicles, potentially driven by factors such as technological advancements, regulatory requirements, and consumer preferences. The projected CAGR of 9% signifies a significant growth trend in the market, highlighting potential opportunities for players within the automotive foam sector to capitalize on this growth through innovation, market expansion, and strategic partnerships.
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