Automotive Interior Materials Market Is Increasing Due To Increasing Application Scope In Automotive Industry Till 2025
The
global automotive interior materials market is
anticipated to reach USD 66.5 billion by 2025, according to a new report by
Grand View Research, Inc. The market is projected to witness a high growth rate
owing to increase in demand for lightweight passenger vehicles.
Factors such
as improved economic conditions and rapid urbanization are likely to fuel the
automotive interior materials market. In addition, there has been a rise in
demand for personalization of cars, which will further create a positive
outlook for this market.
Growth in
interest for attractive automobile interiors, coupled with improved economic
conditions in developing regions, is expected to boost this market over the
forecast period. Market players are likely to focus on product differentiation
and expanding their product catalog in order to grab market opportunities over
the forecast period.
Presence of
multiple leading market players has led to increased competitive rivalry within
the market for automotive interior materials. Focus on product differentiation
and expansion is expected to be the key to market dominance over the forecast
period. Leading players have expressed interest in expanding their distribution
channels as well as investing in mergers and acquisitions to strengthen their
global reach in the market for automotive interior materials.
Full
Research Report On Global Automotive Interior Materials Market Analysis:
www.grandviewresearch.com/industry-analysis/automotive-interior-materials-market
www.grandviewresearch.com/industry-analysis/automotive-interior-materials-market
Further
key findings from the report suggest:
- By product, plastic
accounted for a revenue share of 43.6% in 2016. Plastics are used in
lightweight vehicles, which have gained consumer preference in recent
years
- Composite products
accounted for a revenue share of 10.2% in 2016 and is projected to grow at
a CAGR of 5.3%. This can be attributed to rise in demand for lightweight
and fuel-efficient vehicles
- Dashboard held a share of
33.0% by application in 2016 and is expected to witness significant growth
over the forecast period. Plastics and composites are likely to be
utilized in dashboard applications by automotive manufacturers due to
their low cost and high durability
- Asia Pacific held the
highest revenue share of 53.0% by region in 2016 and is estimated to
dominate the market over the forecast period. This dominance can be
attributed to increase in demand for vehicles from developing countries
such as India and China
- Regional expansion by way
of mergers and acquisitions, along with new product development, is a key
strategy adopted by major market players in order to strengthen their
position globally. Players are focused on innovating new products with
multiple applications to expand their product portfolio
- In June 2016, Lear
Corporation signed an agreement to construct a technology complex in
Shanghai, China. The aim of the agreement was to boost the company’s
business in China and rest of Asia Pacific, thus creating a pathway for
long-term growth in the developing region.
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global automotive interior
materials market on the basis of product, application, vehicle type, and
region:
Automotive
Interior Materials Product Outlook (Revenue, USD Million, 2014 - 2025)
- Leather
- Composite
- Plastic
- Metals
- Fabric
Automotive
Interior Materials Application Outlook (Revenue, USD Million, 2014 - 2025)
- Dashboard
- Seats
- Airbags
& Seat belts
- Door
panel & trims
- Carpet
and headliners
- Others
Automotive
Interior Materials Vehicle Type Outlook (Revenue, USD Million, 2014 - 2025)
- Passenger
Vehicle
- Light
Commercial Vehicle
- Heavy
Commercial Vehicle
Automotive
Interior Materials Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- India
- Central
& South America
- Brazil
- Middle
East & Africa
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-automotive-interior-materials-market
www.grandviewresearch.com/press-release/global-automotive-interior-materials-market
About
Grand View Research
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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