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Global Automotive Interior Materials Market Worth US$ 83.6 Billion by 2016

Automotive Interior Materials Market

Automotive Interior Materials Market

Persistence Market Research delivers key insights on the Automotive Interior Materials Market in its latest report titled “Global Market Study on Automotive Interior Materials: Propelled by Increasing Introduction of Aesthetic and Comfort Features in Mid-Size and Compact Passenger Car Segment; Industry Analysis and Forecast 2016 - 2024”.

Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3669

Global demand for automotive interior materials market will reach US$ 83.6 Bn in 2016, witnessing a y-o-y growth of 3.8% over 2015. Passenger vehicles will continue to account for bulk of the demand for automotive interior materials in 2016, extending their market share to 77.14%, up from 77.05% in 2015.

Demand for energy-efficient, lightweight, corrosion-resistant, and highly durable interior materials will continue to gain traction in the automotive landscape. Among all the material types, fabrics will continue to hold the leading revenue share, surpassing US$ 50 Bn in revenues in 2016.

Upholstery was the largest application segment in terms of revenues in 2015, and the status quo will remain unchanged in 2016. Demand for interior materials from upholstery segment will be worth US$ 20.8 Bn in 2016, an increase of 6.3% over 2015.

Asia Pacific, the largest market for automotive interior materials, will account for US$ 35.8 Bn revenues in 2016. Announcement of reduced vehicle purchase tax on small cars in China – one of the most lucrative markets globally – is expected to boost passenger car sales and provide an impetus to the demand for interior materials. In addition to being the largest market in terms of revenue and volume, Asia Pacific will continue to remain the fastest growing market globally.

Demand for automotive interior materials in 2016 will also be driven by growing automotive sales in the U.S. and Western Europe. Automotive sales in the U.S. are expected to witness moderate growth in 2016 owing to favorable interest rates and low gas prices. While the EU economy remains shrouded in uncertainty, steady automotive sales in Western Europe will continue to create growth opportunities for automotive interior material manufacturers.

Request to view Table of Content @ http://www.persistencemarketresearch.com/market-research/automotive-interior-materials-market/toc

Johnson Controls, Inc., Lear Corporation, and Faurecia S.A. are the top 3 players in the global automotive interior materials market, accounting for 42.7% market revenue share in 2015. The leading players in the market are focusing on making their products cost-effective and environment-friendly. As emission norms and operational regulations become more stringent, automotive interior materials manufacturers will need to scale up innovation and launch cutting-edge products to consolidate their position in the market.

To Buy Full Report for a Single User @ http://www.persistencemarketresearch.com/checkout/3669

Long-term Outlook: The long-term outlook on the global automotive interior materials market remains positive, with the market expected to increase at 5.3% CAGR during the forecast period 2016-2024.

About Us

Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients business needs.

PMR stands committed to bringing more accuracy and speed to clients business decisions. From ready-to-purchase market research reports to customized research solutions, PMRs engagement models are highly flexible without compromising on its deep-seated research values.

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