The North America Automotive Foams Market size is anticipated to reach USD 3.26 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 3.7% over the forecast period. The market growth is credited to the rapid expansion of the automotive industry in the U.S., Canada, and Mexico. Vehicles are considered a status symbol in society, which has propelled vehicle sales due to transitioning lifestyles and the easy availability of low-end models of cars by prominent automotive OEMs. Also, rising sales of Electric Vehicles (EVs) due to environmental concerns arising from petrol and diesel vehicles are expected to drive the market.
The U.S. is the regional market that held the maximum
revenue share. The automotive OEMs and their suppliers in the U.S. are
constantly innovating their product range by providing maximum comfort for
better driving and commuting experience. This has propelled them to include
automotive foams due to their softness, low heat transfer properties, and
flexibility. The automotive foams are produced
from Polyurethane (PU), and polyolefins like Ethylene-vinyl Acetate
(EVA), Polyethylene (PE), Polypropylene (PP), and ethylene propylene diene
monomer.
They are used in various automotive components, such
as seating, armrests, door panels, bumpers, headliners, gaskets, and automotive
trims, reducing the vehicle’s overall weight. This helps in improving the fuel
efficiency of the vehicle. Polyurethane and polypropylene are the most widely
used materials in the manufacturing of automotive foams. Their superior
properties, including durability, high-load bearing capacity, impact
resistance, and chemical resistance make them suitable for a variety of
applications mentioned above.
Related Press Release@ North America Automotive Foams Market Report
North
America Automotive Foams Market Report Highlights
- The market was valued at USD 2.45 billion in 2020 and is estimated
to grow at a CAGR of 3.7% from 2021 to 2028
- The seating application segment is expected to witness a
significant CAGR of 3.6% over the forecast period
- This growth can be credited to the rising demand for comfort and
effective cushioning in automotive seats
- The PU type segment accounted for a significant share of the
overall revenue in 2020 and will expand further at a steady CAGR from 2021
to 2028
- This growth is credited to the rising demand for PU foams owing to
their high compressibility, durability, water & chemical resistance,
and low weight
- The U.S. accounted for the maximum share of the overall revenue in
2020. The market in the U.S. is also expected to witness the fastest CAGR
during the forecast period
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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