Lucintel's latest market report analyzed that automotive foam provides attractive opportunities in passenger cars, light commercial vehicles, and heavy commercial vehicles. The automotive foam market is expected to reach $XX billion by 2028 with a CAGR of 3% to 5%. In this market, polyurethane (PU) foam is the largest segment by product type, whereas passenger car is largest by end use industry. Growing demand for electric vehicles and rising use of bio-based material provides strategic growth path in this market.
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Based on product type, the automotive foam market is segmented into polyurethane (PU) foam, polyolefin (PO) foam, and others. The polyurethane (PU) foam segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its excellent mechanical strength properties, flexibility, cost-effectiveness, weight reduction abilities, and wear and weathering resistance have made it one of the most important materials in automobile production. It is used in various automobile components including seats, armrests & headrests, door panels, bumpers, and various other parts. It helps to reduce the overall weight of the vehicle and enhance thermal insulation in engines thereby providing greater fuel efficiency.
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The Automotive Foam Market is marked by the presence of several big and small players. Some of the prominent players offering automotive foam include Johnson Controls, Woodbridge Foam Corporation, Lear Corporation, Bridgestone Corporation, BASF, Recticel, Vitafoams, Armacell, The Dow Chemical Company, and Rogers Corporation.
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This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
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Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
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