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Polyurethane-Based Foams in Automotive Market - A Global and Regional Analysis

Focus on Type, Applications, End-User, and Country Analysis - Analysis and Forecast, 2021-2031

 
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The global polyurethane-based foams in automotive market were valued at $10,710.0 million in 2020 and is expected to reach $19,798.3 million by 2031, growing at a CAGR of 5.77% between 2021 and 2031.

The top market players are Huntsman International LLC, Dow, Rogers Corporation, Recticel NV/SA, Foam Supplies, Inc., Huebach Corporation, Caligen Europe B.V., Vita (Holdings) Limited, Bridgestone Corporation, M/s Sheela Foam Ltd., Saint-Gobain, Greiner AG, Interplasp, UFP Technologies, Inc., Covestro AG.

Factors driving the growth of the polyurethane-based foams in automotive market are need for lightweight materials in mobility industry, durability and longevity under severe conditions, and innovation in recycling of polyurethane foams.

Some of the main challenges restricting the growth of the polyurethane-based foams in automotive market are availability of alternate substitutes, environmental concern pertaining to the usage of polyurethane foams.

The potential opportunities that are likely to boost the growth of the polyurethane-based foams in automotive market are reduce dependency on raw material using chemical recycling, and incorporating biomass in production of polyurethane.