Automotive Flooring Market Growth Outlook with Industry Review and Forecasts by 2024

News   •   Nov 09, 2017 01:56 EST

Automotive flooring market growing usage of insulating mats as well as associated products for rug protection, ease, and aesthetics in passenger vehicles is anticipated to fuel the product need in the near future. The rising importance of noise eradication and thermal insulation is also projected to provide positive outlook for the product demand in the forecast period.

Global automotive flooring market size is anticipated to gain unexpected growth in the forecast period owing to rapidly increasing automotive industry across the world during this time. Further, the shifting customers preferences towards improved passenger luxury and automobile aesthetics is expected to drive the industry growth in the forecast period.

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Growth in technological advances in flooring systems for sports utility vehicles (SUVs) as well as off-roaders to improve the vehicle sturdiness, ride-quality, comfort and safety is predictable to boost the demand for locomotive flooring. The automotive industry is also being observing significant demand for customized flooring systems for enrichment of ergonomic value of passenger cabins triggering the industry growth.

The nylon segment accounted for the major share of industry revenues in 2016. Cast products offering high impact & heat resistance, a higher strength-to-weight ratio, and optical clarity will propel the industry growth. Nylon fiber is the most frequently used material for automotive flooring owing to its light-weight, flexibility, lower cost and strength.

Polyurethane holds significant market share owing to the increased use of PU for the manufacturing of flooring products and auto components. The mechanical and superior chemical properties and rising demand for noise insulating constituents is anticipated to drive polyurethane demand in the forecast period.

The carpets segment had the larger share of industry. Floor carpets provide protection of the vehicle floor from structure-borne sounds, heat and frictions to make the car ride noiseless and comfortable. The absorption of sounds from interior factors mainly engine noises and vibrations are critical to expand overall ride quality.

The mats segment on the industry is slated to upsurge at the higher pace in the near future. The development can be accredited to the growing demand for noise lessening mats, along with the changing focus of vehicle manufacturers in the direction of improvisation of ride quality, enhancement of comfort levels and advancement in the durability.

The important application segments considered in the industry analysis are light commercial vehicles (LCV), heavy commercial vehicles (HCV) and passenger cars. Cars were the leading segment in the industry, mostly on account of the more share accounted by this segment in the overall vehicle manufacture worldwide.

North America held substantial share of the overall industry revenues, chiefly due to the retrieval of the U.S. automobile industry as well as the rising vehicle production in Mexico and the U.S. Mexico is projected to fuel the regional industry growth attributed to the increasing luxury cars production.

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Brazilian market is projected to mend from the industry downfall in the past some years, primarily on account of the latest treaties with Colombia, Argentina, Paraguay and Uruguay, that is predicted to drive the exports of automobiles from Brazil to the aforesaid countries of the South & Central American region.

Increasing manufacture of HCV and LCV in Asia Pacific region is anticipated to propel the product demand in commercial automobiles, mostly on account of the occurrence of a huge number of foremost OEMs in economies including China and India. The rising demand for automobiles in emerging countries can be ascribed to the swift industrialization, growing working population, and increasing middle-income level groups.

Key Players of automotive flooring market 3M Company, Low & Bonar, DuPont, ACC and AGM Automobile. The crucial strategies implemented by the industry players includes distribution and acquisitions agreements. AGM Automobile acquired Durmont Austria, a textile producer involved in the manufacture of carpets for locomotive applications and commercial building.

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