Automotive Interior Materials Market worth $82.52 Billion by 2019, According to the New Study on ASDReports

Wednesday 8 October 2014, Amsterdam

The market is segmented and values are forecast on the basis of keyregions such as North America, Europe, Asia-Pacific, and RoW (Rest of the World). The key countries are covered and forecast for each region. Further,the market is segmented and values are forecast on the basis of different types of materials.

Asia-Pacific: Biggest Market of Automotive Interior Materials

Asia-Pacific is currently the largest market for automotive interior materials. China is the largest consumer of automotive interior materials in this region. Rapidly growing automotive industry, competitive manufacturing costs, and high economic growth rate are the favorable market forces for automotive interior materials market growth in this region. These factors are attracting the market players for expanding their businesses in the Asia-Pacific region. The market for automotive interior materials in Asia-Pacific is projected to reach $38.68 million by 2019.

Synthetic Leather: Biggest Segment of Automotive Interior Materials Market

Synthetic leather is currently the biggest segment of automotive interior materials. It is a cheaper, more versatile, and an eco-friendly alternative to real leather, which is made from tanned animal hides. Synthetic leather gives OEMs (Original Equipment Manufacturers) option to customize their interiors due to its flexibility and various colour options. Compared to genuine or artificial leather, synthetic leather does not fade easily when exposed to sunlight over an extended period. Its consumption is expected to reach $18.45 billion by 2019. Asia-Pacific is currently the largest consumer for synthetic leather. The market size, in terms of value, for synthetic leather in Asia-Pacific is estimated to grow at a CAGR of 12.83% between 2014 and 2019. Mexico is the fastest-growing market for synthetic leather, registering a CAGR of 18.47% between 2014 and 2019.

Artificial PU leather: Fastest-Growing Segment of Automotive Interior Materials

The artificial PU leather is currently the fastest growing segment of automotive interior materials. The market for artificial PU leather is expected to grow at a CAGR of 14.22% between 2014 and 2019. It is manufactured by bonding cowhide fibers and using PU coating at the end to resemble real leather. Artificial PU leather is easy to care, as it can easily be dry-cleaned.

Borgers AG (Germany), BASF S.E. (Germany), DuPont (U.S.), Faurecia S.A. (France), Lear Corporation (U.S.), Dow Chemical Company (U.S.), International Textile Group (U.S.), Johnson Controls Inc. (U.S.), Eagle Ottawa (U.S.), Sage Automotive Interiors (U.S.), Katzkin Leather Interiors Inc. (U.S.), and DK Leather Corporation (Malaysia)are some of the major manufacturers of automotive interior materials in the world.