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.
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The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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.
This makes it important to understand the practical implications of the Automotive interior materials market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The market across Asia-Pacific held the largest share in 2020, accounting for nearly half of the market. In addition, region would register the highest CAGR of 4.3% from 2021 to 2030, due to rise in urbanization and increase in demand for automotives across the region. The report includes analysis of the global automotive interior materials market across North America, Europe, and LAMEA.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players 3M, ARKEMA Group, BASF SE, Covestro AG, Dow, Evonik Industries AG, Hexcel Corporation, Huntsman International LLC. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
As per the report, the global automotive interior materials industry was accounted for $55.0 billion in 2020, and is anticipated to garner $80.2 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the Automotive interior materials market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
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.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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