Pune, India, Aug. 29, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™ the global automotive interior materials market size is anticipated to reach USD 66.38 billion by 2026, on account of the increasing production of automobiles worldwide. Automotive interior is the most crucial feature of an automobile that catches the user’s attention. Therefore, it is extremely essential to ensure it meets all safety and maintenance demands of the consumer. A recently published report by Fortune Business Insights™ offers a detailed analysis of the market and its prime growth parameters. According to the report, the market stood at USD 51.09 billion in 2018 and will rise at a CAGR of 3.84% between 2019 to 2026.
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A list of Notable Automobile Interior Materials Market Manufacturers includes:
- Freudenberg Performance Materials
- SEIREN Co., Ltd.
- Yanfeng Automotive Interiors
- Sage Automotive Interiors
- TOYOTA BOSHOKU CORPORATION
- Faurecia
- Lear Corporation
- Freudenberg Performance Materials
- DK-Schweizer
- Stahl Holdings B.V.
- Grupo Antolin
- DuPont de Nemours, Inc.
- Adient plc
- Other Vendors
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast CAGR | 3.84% |
| 2026 Value Projection | USD 66.38 Billion |
| Base Year | 2018 |
| Automotive Interior Materials Market Size in 2018 | USD 51.09 Billion |
| Historical Data | 2015-2017 |
| No. of Pages | 125 |
| Segments Covered | By Material, By Application and Regional |
| Automotive Interior Materials Market Growth Drivers | Increasing Popularity of Electric Vehicles to Boost Market |
| Merger and Acquisition Strategies to Help Players Gain Competitive Edge |
Market Drivers
Increasing Popularity of Electric Vehicles to Boost Market
The rise in modernization and urbanization, coupled with the rise in living standards and the increase in disposable incomes have increased the number of automobile owners worldwide. This ultimately propelled the growth of the automobile industry. Keeping in mind the rising number of vehicular accidents worldwide, manufacturers invested heavy amount into developing the interiors of automobiles. This stands as a major automotive interior materials market growth driver. Additionally, the advent of electric vehicles, and lightweight vehicles have also propelled growth of the market attributed to the high amount of plastic used in them. This, accompanied by government restrictions on promotion of cleaner technology are expected to aid in expansion of the market in the forecast duration.
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Regional Segmentation:
Asia Pacific will Dominate Market Owing to Increasing Adoption of Electric Vehicles
Geographically, the global automotive interior materials market is categorized into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, Asia Pacific is holding the dominant automotive interior materials market share on account of rapid expansion of the market in countries such as China, South Korea, Thailand, India, and Japan. Moreover, the rise in adoption and sales of e-vehicles will also help this region continue dominating the market in the coming years. The market in Europe ranks second attributed to the increasing popularity of the e-vehicle market. However, North America market generated a significant automotive interior materials market revenue of USD 7,626.7 million in 2018. Growth of this region is attributed to the advent of electric vehicles and steady improvement of the automotive industry in the region. Furthermore, the Latin America market will witness healthy growth owing to the expansion of automotive industry in nations such as Mexico and Brazil.
Competitive Landscape:
Merger and Acquisition Strategies to Help Players Gain Competitive Edge
The competitive landscape of the automotive interior materials market is segregated in nature owing to the presence of diverse portfolio. Companies such as DuPont launched a new series of renewably sources automotive materials that comprises of Sorona fiber that is utilized in seat fabrics, carpeting, and headliners of the vehicle. The surge in environmental concerns have propelled manufacturers to opt for renewable products to manufacture vehicles. Companies are acquiring strategies such as mergers and acquisitions, company collaborations, joint ventures and others to attract high automotive interior materials market in the forthcoming years.
Key Reasons to Purchase Automotive Interior Materials Industry Report:
- The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges and strategic inputs to overcome the market threats.
- In-depth market analysis and an overview of the global automotive interior materials market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
- Reader can acquire a better interpretation of the automotive interior materials market forecast’s future view and opportunities from the report.
- The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/automotive-interior-materials-market-102540
Objectives of the Report
- 360-degree overview of the automotive interior materials market
- Growth parameters such as drivers, restraints, challenges, opportunities that lies ahead of the market
- Table of segmentation and competitive landscape in details
- List of prominent players and their key strategies for maintaining the lion’s share in the market
- Current automotive interior materials market trends
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Overview of Global Automotive Interior Materials Production
- Global Automotive Interior Materials Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Plastics
- Fabrics
- Composites
- Leather
- Others
- Market Analysis, Insights and Forecast – By Application (Excluding Leather)
- Dashboard
- Seats
- Airbags & Seat belts
- Door panel & trims
- Carpet and headliners
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America Automotive Interior Materials Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Plastics
- Fabrics
- Composites
- Leather
- Others
- Market Analysis, Insights and Forecast – By Application (Excluding Leather)
- Dashboard
- Seats
- Airbags & Seat belts
- Door panel & trims
- Carpet and headliners
- Others
- Market Analysis – By Country
- U.S.
- Canada
TOC Continued…!
Key Industry Developments of the Automotive Interior Materials Market Include:
January 2020 – Adient Plc., a company dealing with automotive interiors manufacturing sold 30% ownership stake in Yanfeng Global Automotive Interior Systems Co. Ltd to Yangfeng and entered into a joint venture until the end of December 2038.
October 2018 – The Japanese manufacturer for chemicals and materials variety successfully announced the acquiring of Sage Automotive Interiors, a US-based company.
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