Automotive Interior Materials Market is Forecasted to Reach US$ 58.93 Billion in 2028, Says Stratview Research

The global automotive interior materials market is projected to witness a growth rate of 2.72% annually from 2023 to 2028, with an anticipated size of US$ 58.93 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global automotive interior materials market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 58.93 billion
Growth (CAGR): 2.72% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Automotive Interior Materials Market:

The global Automotive Interior Materials market is segmented based on Material type, Application type, Vehicle type, End-User type, and Region.

Based on material type - The market is segmented into plastics, composites, fabrics, leathers, and others. Plastic material share is estimated to account for a major part of the market, with a share of > 40 in 2022. The growth of the segment is attributed to its favorable abilities and the vast chemical properties of the material. It is one of the most researched materials and has gained mutual adoption in the automotive industry owing to its favorable mechanical features accompanied by excellent aesthetic appearance. Plastics have witnessed a high growth rate in the market by being the second-most common class of material used in the manufacturing of vehicles after ferrous metals.

Based on application type - The market is segmented into consoles & dashboards, doors, seats, steering wheels, floor carpets, and others. The seat application is estimated to hold more than 30% market share in the upcoming years. Seats provide ease to the driver for being comfortable in a long drive or in any bad driving conditions. A variety of materials are used to manufacture seats as a result of various psychological & physiological studies on the perception of humans, posture and adjustability, and weight distribution. Furthermore, seat cushions are manufactured with high-performance polyurethane foams along with covering materials such as fabric or leather.

To know the most attractive segments, visit:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

Asia-Pacific is estimated to account for more than 45% revenue share of the market in the upcoming years, attributed to the growth and development in the regional automotive industry. Factors such as increasing urbanization, healthy economic growth, the growing spending power of the middle-class populace, supportive initiatives made by the government, and the growing demand for passenger cars along with increasing aftermarket activities are expected to fuel the growth of the regional market in the upcoming years. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.

Automotive Interior Materials Market Drivers:
Some of the key drivers listed in the report are given below.
• Growing emphasis on overall weight minimization of vehicles for optimizing the efficiency of fuel.
• Growth in the automotive industry in emerging regions is expected to be the main factor for increased demand.
• Different types of organic and inorganic strategies are adopted by the key players in the market to expand their presence in emerging markets, such as China, India, Thailand, and Brazil.

Top Companies in the Automotive Interior Materials Market:
Stratview Research has identified the following companies as the top market players.
• Arkema
• BASF SE
• Continental AG
• Evonik Industries AG
• Hexcel Corporation
• RPM International Inc.
• Saudi Basic Industries Corporation
• Stahl Holdings B.V.
• Toray Industries, Inc.
• UFP Technologies
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Automotive Interior Materials Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.