Market Size of Automotive Foam Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.44 Billion |
| Market Size (2029) | USD 14.74 Billion |
| CAGR (2024 - 2029) | 5.18 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Foam Market Analysis
The Automotive Foam Market size is estimated at USD 11.44 billion in 2024, and is expected to reach USD 14.74 billion by 2029, growing at a CAGR of 5.18% during the forecast period (2024-2029).
In the year 2020, the breakdown of Covid-19 and the imposition of lockdowns negatively affected the automotive industry causing a decline in sales and production. However, the easing of lockdowns and economies gaining momentum helped the industry to gain back momentum in the years 2021 and 2022.
- Factors such as growing emphasis on the sustainable production of automotive foams and the growing need for weight reduction in vehicles are expected to drive the market over the forecast period.
- However, the availability of eco-friendly bio-foams and the decline in automotive production in major economies of Europe is expected to hinder the market growth over the forecast period.
- The growing demand from electric vehicles and other factors are expected to act as an opportunity for the market over the forecast period.
- Asia-Pacific dominated the market with an increased demand from countries like India, China, and others.
