Press release
Industry News On Automotive Interior Material Market 2018 Key Players Lear Corporation, Faurecia S.A., Johnson Controls, Grupo Antolin-Irausa, Seiren Co., Yanfeng Automotive Trim Systems Co., Toyota Boshoku Corporation.
Automotive Interior Material Market
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Global automotive interior materials market can be segmented based on product as leather, fabrics, thermoplastics and synthetic leather. Thermoplastics is expected to witness strong growth owing to light weight, durability, ease in production and inexpensive cost. Synthetic leather can be further segmented in PVC and PU leather. Low maintenance cost along with increasing demand from passenger cars will boost the overall industry demand.
The U.S., is expected to witness the stable growth during forecast timeframe owing to increasing technological advancement in product and number of vehicle production in the country. Increasing disposable income with customers focusing on mid segment and luxury cars is expected to positively influence the automotive interior material product penetration
Europe led by Germany, Italy, UK, France is expected to witness strong growth during forecast time. Recovering vehicle industry is expected to further support the automotive interior material business demand. Moreover, stringent regulations regarding reducing overall vehicle weight of the vehicle owing to usage of light weight product is expected to boost the product demand.
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Asia Pacific led by China, India, Japan and South Korea is expected to boost the overall market growth. Asia pacific is anticipated to witness highest growth during the forecast time frame owing to growth in vehicle production especially from China. Increasing disposable income, favorable FDI policies along with availability of resources are among the major factors contributing the automotive interior material market growth. China leads the overall industry with vehicle production over 28 million units bolstering the product demand.
Latin America, is expected to witness robust growth during the forecast period. Mexico is among the major contributor for vehicle production and vehicle components in the region. Free trade agreement supplying to the assembly plants located in the U.S. is expected to boost the industry growth. In addition to this, availability of the resources such as competitive labor cost and growing investment in the vehicle and auto parts will further fuel the automotive interior materials market demand.
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Some of the major players contributing the market share are Lear Corporation, Faurecia S.A., Johnson Controls, Grupo Antolin-Irausa, Seiren Co., Yanfeng Automotive Trim Systems Co., Toyota Boshoku Corporation, Benecke-Kaliko AG, Sage Automotive Interiors Inc., D.K Leather Corporation and GST AutoLeather Inc.
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