The rise in demand for automobiles, especially in the developing regions and rising demand for budget cars is expected to drive the demand for automotive interiors, according to a report by Persistence Market Research.
Key findings in the global automotive interior materials market are as follows:
1. Demand for automobile interior materials globally estimated to reach value of US$ 83.6 Bn in 2016.
2. Passenger vehicles largest consumers, expected to further market share to 77.14% in 2016 compared to 77.05% in 2015.
3. Lightweight, durable, energy-efficient, and corrosion resistance are major demands to gain traction.
4. Fabrics leading segment in terms of revenue share and is expected to continue with the trend. The segment is expected to exceed US$ 50 Bn in 2016.
5. Upholstery largest application segment, estimated to be worth US$ 20.8 Bn in 2016.
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6. Demand for customization, need for lightweight vehicles, and shift towards “smart” textiles are major drivers in the global market.
7. Asia Pacific is the dominating region in the global market with the region projected to value US$ 35.8 Bn at the end of 2016.
8. Drawing the largest amount of value and volume, Asia Pacific is the fastest growing region in the global market for the forecast period.
9. Rising sales in the U.S. and Europe is expected to generate demand for automotive interior materials in the regions.
10. Sales in the U.S. is expected to grow moderately owing to low interest rates and fuel price, and maturation of the market.
To know more about the global automotive interior materials market, click here. http://www.persistencemarketresearch.com/market-research/automotive-interior-materials-market/toc
Major players in the global automotive interior materials market are Grupo Antolin-Irausa, S.A., Faurecia S.A., Yanfeng Automotive Trim Systems Co., Ltd., Sage Automotive Interiors Inc., D.K Leather Corporation, Seiren Co., Ltd., Benecke-Kaliko AG, Lear Corporation, Toyota Boshoku Corporation, GST AutoLeather Inc., and Johnson Controls, Inc.