Rise in focus on overall weight reduction of automobiles to optimize fuel efficiency and surge in consumption of plastics in automotive production have boosted the growth of the global automotive interior materials market. However, high volatility in the prices of raw materials hinders the market growth. On the contrary, surge in adoption of green technology to produce automotive leather would open new opportunities in the future.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
By application, the door panel segment is projected to manifest the highest CAGR of 4.3% during the forecast period. In addition, the segment dominated the market in terms of revenue, contributing to nearly two-fifths of the global automotive interior materials market. This is because it serves as an interface between the interior of the car and inner workings of the door. The report includes an analysis of the other segments including dashboard, seats, floor carpets, others.
The Automotive interior materials market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Automotive Interior Materials Companies Covered Market:- 3M, ARKEMA Group, BASF SE, Covestro AG, Dow, Evonik Industries AG, Hexcel Corporation and Other.
By type, the composites segment held the largest share in 2020, accounting for more than one-thirds of the global automotive interior materials market. Moreover, the segment is estimated to register the highest CAGR of 4.8% during the forecast period, due to the fact that composites are used to make vehicles lighter, safer, and more fuel-efficient. The report includes an analysis of other segments such as plastics, metals, fabric, leather, others.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Automotive interior materials market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Automotive interior materials market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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