North America Automotive Foams Market Worth $3.26 Billion By 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), ethylen...