North America Automotive Foams Market Qualitative and Quantitative Analysis Report 2028
North America Automotive Foams Industry Overview
The North America automotive foams market size was valued at USD 2.45 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028.
The automotive industry in North America has witnessed rapid growth in recent years owing to the growing population coupled with rising disposable incomes and increasing purchasing power parity. The obligatory norms laid down by the regulatory authorities to control emissions and the diminishing oil & gas reserves have propelled automotive manufacturers in North America to concentrate on manufacturing lightweight and energy-efficient automobiles. According to the American Chemistry Council, presently, plastics make up 50% of a vehicle’s structure. This is due to the fact that the majority of the interior components in automobiles utilize plastic foams like Polyurethane (PU), Polypropylene (PP), Polyethylene (PE), Ethyl Vinyl Acetate (EVA), ethylene, and propylene diene monomer.
Gather more insights about the market drivers, restrains and growth of the North America Automotive Foams Market
Excellent mechanical strength, high wear & weathering resistance of PU and Polyolefin (PO) foams, along with their weight reduction ability, have made them one of the most important materials used in automobile production. The U.S. accounted for a significant revenue share of the North America automotive foams market in 2020. Ongoing technological innovations in the processes used for manufacturing automobile components have led to an increased usage of automotive foams in various applications in the automotive industry. Conventional foams used for manufacturing seat paddings of vehicles are being replaced by high-performance automotive foams, such as PU, PO, EVA, PE, PP, and Ethylene Propylene Diene Monomer (EPDM).
North American automakers have witnessed a shifting of their vehicle production towards electrification due to stringent emission norms introduced by the governments of the U.S., Canada, and Mexico. The introduction of incentives and mandates by the governments also emerged as the key driving factor for the high demand for Electric Vehicles (EVs). Moreover, the demand for commercial vehicles witnessed a rise from the e-commerce and logistics industries, which surged further due to COVID-19 and is one of the major factors that has been driving the market growth in the region. The automotive foams not only provide comfort to passengers but also enable a reduction in the overall weight of the vehicles. The rising demand for consumer vehicles positively impacted the growth of automotive foams in North America.
Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.
- Polyurethane Market – The global polyurethane market size was valued at USD 72.82 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030.
- Automotive Foams Market – The global automotive foams market size was estimated at USD 23.9 billion in 2017 and is anticipated to register a CAGR of 9.8% over the forecast period.
Market Share Insights
- June 2021: Dow, Inc. collaborated with leading automotive suppliers, Autoneum and Adient plc, to produce polyurethane foam from Voranol C and Specflex C sourced from a waste product of the mobility sector and replacing virgin fossil-fuel-based feedstock.
Key Companies profiled:
Some prominent players in the North America automotive foams market include
- BASF SE
- ARMACELL
- Woodbridge
- Wisconsin Foam Products
- Dow Inc.
- Rogers Corp.
- American Excelsior, Inc.
- Toray Plastics (America), Inc.
- Bridgestone Corp.
- Custom Foam Systems
- Grand Rapids Foam Technologies
- Saint-Gobain
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