Global Automotive Interior Materials Market is estimated to reach $155 billion by 2024; growing at a CAGR of 2.8% between 2016 and 2024. The majority of auto makers are executing these thoughts into the parts of their designs and the interior is no exception. Consumers are opting for bio-based materials, instead of plastic composite material parts. A shift towards light colors in car interiors and light weight luxury automobiles are becoming increasingly popular. There is a need to reduce the energy utilized during manufacture, the wastage produced and the energy and resources used to fabricate the parts. Lately there has been a shift in the industry towards renewable materials, recycled and sustainable production.
Major drivers of the global automotive interior materials market are technological advancements coupled with high demand for compact & mid-sized cars, growing penetration of electric vehicles and rising trend of customization to differentiate their offerings. Though, high cost of raw materials such as leather and strict government regulations on the usage of leathers may hamper the growth of the market. Introduction of green technology and nano technology in the materials would provide opportunity in the upcoming years.
The global Automotive Interior Materials market is segmented into material, application and geography. By material type, it is further segmented into leather, thermoplastic polymers, fabric, vinyl and wood. Furthermore, application segment is bifurcated into heavy commercial vehicle, light commercial vehicle and passenger vehicle.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East, and Africa.
Key players of automotive interior materials market include The Haartz Corporation, Toyota Boshoku Corporation, Johnson Controls Inc., Sage Automotive Interiors Inc., Faurecia S.A., GST AutoLeather Inc., International Textile Group Inc., Dow Chemical Company, BASF S.E., D.K Leather Corporation, Auto Trim Inc., and Lear Corporation, among others.
The key takeaways from the report
- The report will provide detailed analysis of Automotive Interior Materials Market with respect to major segments such as material and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be included in the report
- An exhaustive regional analysis of Automotive Interior Materials market will be provided in the report
- Profile of key players of the Automotive Interior Materials market, will be provided, which include key financials, product & services, new developments, and business strategies
Scope of Automotive Interior Materials Market
- Thermoplastic Polymers
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
- North America
- ·South America
- ·Middle East