Product ID: SQMIG25C2094
Global Automotive Flooring Market Size, Share, Growth Analysis, By Material(Polyurethane, Polypropylene), By Product(Carpets, and Mats), By Application(Cars, LCV) - Industry Forecast 2024-2031
Report ID:
SQMIG25C2094 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|
Tables:
91 |
Figures:
76
Global Automotive Flooring Market Insights
Global Automotive Flooring Market size was valued at around USD 1.38 billion in 2022 and is expected to rise from USD 1.46 billion in 2023 to reach a value of USD 2.29 Billion by 2031, at a CAGR of 5.8% during the forecast period (2024–2031).
The rise in automotive manufacturing on a global basis is anticipated to be one of the major factors propelling the global automotive flooring market expansion during the forecast period. Additionally, it is anticipated that product demand will increase due to the growing demand for higher standards of comfort and safety in automobile passenger cabins. Significant material advancements for the production of various products, like carpets and mats, have recently been observed in the automobile flooring business. Nylon dominates the industry as a whole, with rubber, polyurethane, and polypropylene following. Over the forecast period, the industry is anticipated to grow as a result of the expanding use of these materials in the production of advanced flooring products and auto parts.
The market for polyurethane materials is anticipated to expand significantly and is likely to do so at high rates during the forecast period as a result of the rising use of PU in the production of insulating carpets and PU foam for sound deadening in passenger and commercial vehicles. Because of its low density, light weight, chemical resilience, and thermal stability, polypropylene is the most often used thermoplastic. Over the forecast period, the market for the material is anticipated to be driven by the rising use of PP in automotive applications for noise and friction insulators, carpet fibers, bumpers and gas tanks.
The presence of numerous large manufacturers integrated across the most important links in the value chain makes the automobile flooring market extremely competitive. Additionally, there is little risk of new competitors entering the market due to a number of factors.
New entrants in the industry face a number of difficulties due to the requirement for large initial capital investments, the existence of numerous product manufacturers in important regions of North America, Europe, and Asia Pacific, and the existence of strict regulations regarding fuel economy, safety, noise emissions, and vehicle safety.
US Automotive Flooring Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Automotive Flooring Market Report Snapshots
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