Automotive Interior Materials Market Overview:
Global Automotive Interior Materials Market was valued at $77,553 million in 2015, and is expected to reach $124,469 million by 2022, registering a CAGR of 6.9% from 2016 to 2022. Automotive interior materials are resources that are utilized inside the cabin of an automotive, such as plastics, metals, and composites. As the operational properties of automotive reach acceptable levels of performance, consumers demand improved ergonomic and appealing features of the interior design. The cabin section of a vehicle is critical to vehicle weight, making lightweight interior materials imperative to conserving emission levels. Superior attributes and functions of cabin components have led to significant increase in number of vehicle interior components.
The global automotive interior materials market is driven by high demand for low-emission materials, especially from emerging countries, and stringent fuel economy standards. However, increase in cost of genuine leather due to demand-supply gap and regulations concerning synthetic leather are expected to hamper the market growth in the future. Technological developments in production processes of automotive materials are expected to lead to lower cost of production and superior sustainability, leading to improvement in performance efficiency. Automotive interior materials provide an aesthetic look, sustainability, and better reliability, leading to superior design of automotive cabins over time. Innovative automotive designs and rapid growth in the global economy present numerous opportunities to market players for growth.
The report segments the global automotive interior materials market based on type, vehicle, and geography. The type segment is classified into plastics, metals, fabrics, leather, composites, and others. Plastics are further segmented into polypropylene (PP), acrylonitrile butadiene styrene (ABS), polycarbonate (PC), and others, whereas metals include steel, aluminum, and others. Genuine and synthetic leather constitute the leather segment. Composites are bifurcated into glass fiber reinforced plastic (GFRP) and carbon fiber reinforced plastic (CFRP), while glass, wood, and rubber are some of the other materials utilized. Based on vehicle type, the market is divided into passenger, light commercial vehicle (LCV), and heavy commercial vehicle (HCV). By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pockets
In 2015, composites and leather segments collectively accounted for the major market share. In terms of value, these types held approximately 48% share in the overall market. Composites is the top investment pocket in the automotive interior materials market, attributed to anticipated replacement of metals and glass used in vehicles by these composites. Thus, this segment is anticipated to provide high stability along with significant return on investment for the stakeholders, owing to its high growth rate and significant revenue contribution.
Asia-pacific Automotive Interior Materials Market Analysis
Asia-Pacific’s consumption of automotive interior materials is expected to increase, owing to growth in population, development in the automotive industry, and stable economic growth. Emerging markets, such as China and India, are expected to witness the highest increase in demand for these materials during the forecast period. Substantial development in composite and plastic components is anticipated to boost the market growth in this region.
India Automotive Interior Materials Market, 2014-2022 ($Million)
Major companies have adopted agreement, product launches, expansions, mergers, and agreements to sustain the intense market competition. Key players profiled in the report include BASF SE, Benecke-Kaliko AG, Borgers SE & Co. KGaA, Dow Chemical Company, DK-Schweizer Co., Ltd., Eagle Ottawa LLC, E.I. du Pont de Nemours & Co., Faurecia Automotive GmBh., Johnson Controls, Inc., Katzkin Leather, Inc., Lear Corporation, and Sage Automotive Interiors, Inc.
Other market players (not profiled in report) in the value chain include Bayerische Motoren Werke AG, Celanese Corporation, Delphi Automotive Plc Grammer AG, Grupo Antolin-Irausa SA, Henkel Corporation, Stahl Holdings BV, Technical Textile Services Ltd., Toyota Boshoku Corporation, Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG.
Key Benefits for Stakeholders
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the automotive interior materials market.
- In-depth analysis of the market size is conducted, and estimations for key segments between 2014 and 2022 are provided.
- Competitive intelligence (of leading manufacturers and distributors) facilitates to understand the competitive scenario across the geographies.
- Factors that drive and restrain the growth of the market are provided in the report.
- Industry analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Market share for all segments with respect to each geography is detailed, which assists in understanding the trends in the industry at the micro-level.
- Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the industry trends.
Automotive Interior Materials Market Key Segments
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA