Automotive Interior Materials Market Expected To Display High Growth Due To Increase In Demand For Lightweight Passenger Vehicles by 2025: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.

According to a 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″,published by Grand View Research, Inc., The global automotive interior materials market is anticipated to reach USD 66.5 billion by 2025, 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.

Key Takeaways from the report:

• 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 in Advanced Interior Materials Industry:

• Ceiling Tiles Market: Ceiling Tiles Market is anticipated to be driven by growing commercial construction activities such as institutional buildings, office complexes, and healthcare facilities across the globe.

• Kraft Liner Market: Rising scope for packaging in application industries, such as import and export, food and beverage, construction, electrical and electronics, and manufacturing is expected to drive the kraft liner market growth.

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.

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

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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