San Francisco, 8 March 2019: The Report Automotive Interior Materials Market Analysis By Product (Leather, Composite, Plastic,
Metals, Fabric), By Application (Dashboard, Seats, Airbags & Seat Belts,
Door Panel & Trims, Carpet & Headliners), By Region, And Segment
Forecasts, 2018 - 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.
Access Research Report of 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.
Browse more reports of this category by Grand View
Research at: 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
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
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.