Grand View Research, Inc. - Market Research And Consulting.According to report published by Grand View Research, The global automotive interior materials market is anticipated to reach USD 66.5 billion by 2025 .Rise in demand for passenger vehicles in North America and Asia Pacific is projected to drive market growth over the forecast period.
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 Automotive Interior Materials Market Analysis:
https://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: https://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
Access Full Press Of This Report By Grand View Research: https://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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