Automotive Carpeting and Roofing Market : Industry Analysis, Opportunity Assessment and Forecast upto 2025
In order to protect the interior of an automobile from corrosion, dirt, and water, consumers use carpets, floor mats and roof among other materials. As a result of recent advancements, nano materials are increasingly used as automotive fabric. This is expected to have a positive impact on the global automotive carpeting and roofing market, considering the escalating demand for eco-friendly alternatives worldwide. With the rising preference toward green technology in automotive leather materials, the market for automotive carpeting and roofing will slowly transition towards eco-friendly technologies. This in future will gain much traction for the market. Besides this, the rising investment of private equity is likely to bolster the overall operations in the market. The global market for automotive carpeting and roofing stood at US$13.51 bn in 2016. Rising at a healthy CAGR of 5.9% from 2017 to 2025, this market is likely to reach US$22.66 bn by the end of 2025. Obtain Report Details @ http://www.transparencymarketresearch.com/automotive-carpeting-and-roofingmarket.html On the basis of the geography, the worldwide automotive carpeting and roofing market has been categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among these regions Asia Pacific and Europe have been reporting the most lucrative prospects and cumulatively held over 60% of the industry. Asia Pacific reports a greater consumption of foam compared to other regions and is expected to grow at the highest pace during the forecasted period from 2017 to 2025. The increasing demand of passenger cars, hybrid-electric vehicles, multipurpose vehicles, and sports utility vehicles (SUV) in India, Japan, and China is expected to boost the Asia Pacific automotive carpeting and roofing market.