Automotive Market Overview:
From 2016 to 2022, the global automotive interior materials market is predicted to grow at a CAGR of 6.9%, from $77,553 million in 2015 to $124,469 million in 2022. Plastics, metals, and composites are examples of car interior materials that are used inside a vehicle’s cabin. Consumers seek improved ergonomic and appealing interior design features as car operational properties achieve acceptable levels of performance. Because the cabin area of a vehicle is so important to vehicle weight, lightweight interior materials are essential for reducing emissions. Superior cabin component features and functions have resulted in a large growth in the number of vehicle interior components.
High demand for low-emission materials, particularly from emerging nations, and tight fuel economy rules are driving the global automobile interior materials market. However, rising costs of genuine leather due to a demand-supply mismatch and synthetic leather rules are projected to stifle future industry growth. Technological advancements in automotive material production processes are predicted to cut production costs and improve sustainability, resulting in increased performance efficiency. Automotive interior materials have a more appealing appearance, are more durable, and are more reliable, resulting in better cabin design over time. Market companies have several prospects for expansion thanks to innovative vehicle designs and strong global economic growth.
Automotive Interior Materials Market Segments :
The global automotive interior materials market is segmented by type, vehicle, and geography in this analysis. Plastics, metals, textiles, leather, composites, and others make up the type segment. Polypropylene (PP), acrylonitrile butadiene styrene (ABS), polycarbonate (PC), and other plastics are separated from metals, which include steel, aluminium, and others. The leather segment includes both natural and synthetic leather. Glass fibre reinforced plastic (GFRP) and carbon fibre reinforced plastic (CFRP) are the two types of composites, whereas glass, wood, and rubber are some of the other materials used. The market is split into passenger, light commercial vehicle (LCV), and heavy commercial vehicle segments based on vehicle type (HCV). It is divided into four regions: North America, Europe, Asia-Pacific, and LAMEA.
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Composites and leather sectors together accounted for the majority of market share in 2015. In terms of market value, these types accounted for almost 48% of the whole market. Composites are the top investment pocket in the automotive interior materials industry, owing to composites’ potential to replace metals and glass in vehicles. As a result of its rapid growth rate and considerable revenue contribution, this segment is expected to deliver high stability as well as a significant return on investment for stakeholders.
Automotive Interior Materials Market Analysis :
The consumption of car interior materials in Asia-Pacific is predicted to rise as the population grows, the automotive industry develops, and the economy remains stable. During the projection period, emerging markets such as China and India are likely to see the greatest increase in demand for these materials. The market in this region is expected to rise due to significant advancements in composite and plastic components.
Key Market Players :
- BASF SE
- BENECKE-KALIKO AG
- BORGERS SE & CO. KGAA
- THE DOW CHEMICAL COMPANY
- DK-SCHWEIZER CO.
- EAGLE OTTAWA LLC
- E.I. DU PONT DE NEMOURS & CO.
- FAURECIA AUTOMOTIVE GMBH
- JOHNSON CONTROLS, INC.
- KATZKIN LEATHER, INC.
- LEAR CORPORATION
- SAGE AUTOMOTIVE INTERIORS, INC.
Key Market Segments –
- By Type
- By Vehicle Type
Regional Outlook (Revenue, USD Million, 2014 – 2022)
Central & South America
Middle East & Africa