A growing focus of manufacturer towards enhancing passenger luxury and automobile aesthetic look is projected to increase the market value over the forecasted timeline. The rising importance of noise eradication and thermal insulation along with the advent of evolving technology in terms of automotive flooring system if further anticipated to strengthen the market demand. Additionally, the rising trend for enhanced interior look for vehicle and flooring coupled with the growing need for safety and passenger comfort is further fueling the product demand.
As per the latest report added by Value Market Research, Global Automotive Flooring Market was valued at around USD 901 million in 2018 and is expected to grow at a CAGR of 6% to reach over USD 1,354.8 million in 2025.
POLYURATHENE ACCOUNTED FOR THE SIGNIFICANT SHARE IN THE MARKET
Polyurethane is holding highest share in the market owing to the rising usage of PU for the production of flooring products and other auto products. Also, it has superior mechanical and chemical properties which enable their application in the production of noise insulating constitute which is projected to drive the demand for PU
PASSENGER CAR SEGMENT SHOW THE HIGHEST DEMAND AMONG OTHER VEHICLES
A passenger car is holding the largest share in the market owing to rising production and demand for passenger cars across various developed nations. Also, owing to rapid industrialization, rising working population along with the increasing middle-class levels groups is further anticipated to fuel segment growth.
ASIA-PACIFIC REGION HAS EMERGED AS THE LARGEST MARKET OF THE AUTOMOTIVE FLOORING INDUSTRY
Asia-Pacific is dominating the global automotive flooring market and is expected to maintain its dominance over the forecast period. The growth in this region can be attributed to the booming automotive industry coupled with the rising need for passenger comfort and safety in cars.
COMPETITIVE LANDSCAPE
3 M Company, DuPont, Autoneum, AGM, and Borgers.
As per this study the Global Automotive Flooring Market was valued USD 2.3 MN (by revenue) in 2021 and is anticipated to reach USD 3.65 MN by 2028 with a CAGR of 6.8%.
Automotive flooring refers to the floor mats or carpets used to cover and protect car floor from stains, dust, dirt, water, and corrosion. Apart from protection, it also enhances the aesthetic of the car's floor. Various materials such as polypropylene, nylon, rubber, and etc. are used for car flooring.
Market Dynamics
Rise in sales of automotive vehicles is directly influencing the market growth. Shift in manufacturer's interest towards customer comfort is again boosting the market growth. Also, rising application of automotive flooring for car floor protection and to increase car interior aesthetic is again pushing the market growth upwards. However, volatility prices of raw materials is likely to hamper the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of automotive flooring.
Market Segmentation
The broad automotive flooring market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Polyurethane
- Polypropylene
- Nylon
- Rubber
- Others
By Application
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for automotive flooring in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Automotive Flooring Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the automotive flooring market include Apache Mills, Inc., Autoneum Holding Ltd., Conform Automotive, Corry Rubber Corporation, Derby Fabricating Solutions, LLC, Faurecia SA, Freudenberg Performance Materials, HP Pelzer Automotive System Inc., Synova Carpets, LLC and Toyota Boshuku Canada Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.