Automotive Interior Materials Market by Type (Synthetic Leather (PU & PVC), Genuine Leather, Polymers, Fabric), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Region - Global Forecast to 2023
The automotive interior materials market is projected to grow at a CAGR of 3.5% from 2018 to 2023
The global automotive interior materials market is estimated to be USD 46.63 in 2018 and is projected to register a CAGR of 3.5% between 2018 and 2023 to reach USD 55.41 billion by 2023. Increasing demand from the automotive industry in emerging regions is the major driver for the automotive interior materials market. The global automotive interior materials industry is expected to grow due to the increasing demand in economies, such as India, China, Africa, Mexico, US, Germany, Brazil, and others. The use of genuine leather in automotive interiors is a major concern with respect to environmental regulations.
Among types, polymers are projected to be the largest segment of the automotive interior materials market
Polymers are the largest as well as fastest-growing type in the automotive interior materials market. Polymers are largely used in the manufacture of lightweight automotive interior components. Some of the high-performance polymers used in automotive interiors are PP, PU, PVC, and others. These polymers are lightweight and help in making vehicles more fuel efficient. Increasing need for fuel efficiency and demand for attractive and durable interiors are driving the automotive interior polymers market.
APAC, the largest market for automotive interior materials
APAC is the largest market for automotive interior materials globally, with China being the dominant market in this region, which is attributed to the rapid economic expansion. Rapid development in the automotive industry is also driven by the rising demand due to high living standards and higher economic growth in this region. North America is projected to be the second largest market for automotive interior materials. The high standards of living in the US and increasing R&D activities in the region for the development of innovative interior materials are driving the demand for automotive interior materials.
This study has been validated through primary interviews conducted with various industry experts globally. The breakdown of the profiles of primary interviews for the report on the automotive interior materials market is provided below.
By Company Type: Tier 1 - 60%, Tier 2 - 20%, and Tier 3 - 20%
By Designation: C Level Executives - 17%, Directors - 33%, Others - 50%
By Region: APAC - 33%, South America - 17%, Europe - 33%, North America - 17%
The report also includes company profiles and competitive strategies adopted by the major market players. Some of the key companies profiled in this report are Toyota Boshoku Corporation (Japan), Lear Corporation (US), Toyoda Gosei Co., Ltd. (Japan), Adient plc (Ireland), Faurecia S.A. (France), Grupo Antolin (Spain), and Sage Automotive Interiors Inc. (US).
The report covers the automotive interior materials market across different types and regions. It aims at estimating the market size and future growth potential of the automotive interior materials market across different segments. The report also includes an in-depth competitive analysis of the key market players along with their profiles, recent developments, and key growth strategies.
Key benefits of buying the report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the automotive interior materials market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on automotive interior material types offered by the top market players.
Product Development/Innovation: Detailed insights on emerging technologies, research & development (R&D) activities, and new product launches in the automotive interior materials market.
Market Development: Comprehensive information on lucrative emerging markets - the report analyzes the automotive interior materials market across regions.
Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the automotive interior materials market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the automotive interior materials market.