Press release
Automotive Interior Materials Market To Reach US$137.06 bn mn In 2023 With Growth At A CAGR Of 2.7%
This market research study analyzes the automotive interior materials market on global basis and provides estimates in terms of revenue (USD Billion) from 2014 to 2023. It describes the market dynamics affecting the industry and analyzes their impact through the forecast period. Moreover, it highlights the opportunities for market growth in the next eight years.
Automotive interior materials include fabrics, vinyls, thermoplastic polymers and different forms of leather. Manufacturers are concentrating on efforts to produce light in weight and efficient automotive interior materials to reduce weight of vehicles and improve the fuel efficiency. In addition, new and improved, attractive automotive interior materials are redefining the consumers’ preference and helping manufacturers in differentiating their materials from other brands. Increasing private equity investments in automotive interior material manufacturing companies coupled with application of green technology in automotive leather materials and advent of new segment of vehicles such as hybrid and electric vehicles are driving the overall market.
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The major factor inhibiting the growth of this market is the declining production rate of vehicles in past few years. Automotive interior materials such as genuine leather and vinyls are expensive that are not easily affordable, thus cannot be incorporated in economy cars. Moreover, such materials involve high cost and frequent maintenance that do not serve as a feasible option for a large number of buyers present in developing nations. Excluding the high-end automobile users, majority of consumers prefer affordable and attractive interior materials in their vehicles such as artificial or polyurethane (PU) leather, synthetic leather and different shades of fabric.
At present market is fragmented in nature with the presence of many small, medium and large companies across the globe. Entry into this market is easy as there is no monopoly of business and the market has huge scope and opportunity. Consumers demand for affordable interior materials that are easy to maintain and attractive, which is another influential factor for supporting the growth of this market. Increasing price of raw materials is affecting the automotive sector, which in turn is reducing the growth of automotive interior materials market. Due to the price rise, there has been a substitution effect and therefore, high-end materials are being replaced by low-end materials. Therefore, such factors are expected to inhibit growth of this market in the long term.
Considerable growth in the automotive sector coupled with economic reforms in major developing countries has been able to bolster the growth of this market. Asia Pacific and Rest of the World (RoW) are key markets for the future and are expected to provide huge opportunities to the global automotive interior materials manufacturers because of the growth in the automotive sector and increasing demand for passenger vehicles in the regions.
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The market is segmented on the basis of geography into Europe, North America, Asia Pacific and Rest of the World (RoW). These segments have been estimated in terms of revenue (USD billion). In addition, the report has been segmented based on material types, which includes, leather, thermoplastic polymers, fabric, vinyl and wood. In addition, the report is also segmented by application that includes heavy commercial vehicle, light commercial vehicle and passenger vehicle.
For better understanding of the automotive interior materials market, the study comprises market attractiveness analysis, where the material types are benchmarked based on their market scope, growth rate and market attractiveness.
The report also provides company market share analysis of the various industry participants. Key players have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Faurecia SA (France), Johnson Controls, Inc. (U.S.), Grammer AG (Germany), Lear Corporation (U.S.) and BASF SE (Germany) among others.
The automotive interior materials market has been segmented as:
Global Automotive Interior Materials Market: By Material
Leather
Thermoplastic polymers
Fabric
Vinyl
Wood
Global Automotive Interior Materials Market: By Application
Heavy commercial vehicle
Light commercial vehicle
Passenger vehicle
Global Automotive Interior Materials Market: By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
Italy
France
Germany
Rest of Europe
Asia Pacific
China
India
Japan
Oceania (Australia and New Zealand)
Rest of Asia Pacific
Rest of the World (RoW)
Latin America
UAE
South Africa
Others
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Table Of Contents
Chapter 1 Preface
1.1 Report description
1.2 Research scope
1.3 Key Take away
1.4 Research methodology
Chapter 2 Executive Summary
Chapter 3 Automotive Interior Materials Market Overview
3.1 Introduction
3.2 Nature of the market
3.3 Market dynamics
3.3.1 Market Drivers
3.3.1.1 Increasing poduction and usage of vehicles
3.3.1.2 Demand of consumers for attractive, affordable and easy to maintain Automotive Interior Materials
3.3.2 Market Restraints
3.3.2.1 High price and cost of maintenance associated with some of the Automotive Interior Materials
3.3.3 Market Opportunities
3.4 Market Share of Automotive Interior Materials Key Players, 2014 (Value %)
3.4.1 Competitive Strategies Adopted by Key Players
3.5 Global Automotive Interior Materials Market: Market Attractiveness Analysis
Chapter 4 Global Automotive Interior Materials Market: By Material
4.1 Overview
4.1.1 Global Automotive Interior Materials Market Revenue Share (%), By Material, 2014 and 2023
4.2 Global Leather Market Revenue Forecast, 2014 – 2023 (USD Billion)
4.3 Global Thermoplastic Polymers Market Revenue Forecast, 2014 – 2023 (USD Billion)
4.4 Global Fabric Market Revenue Forecast, 2014 - 2023 (USD Billion)
4.5 Global Vinyl Market Revenue Forecast, 2014 – 2023 (USD Billion)
4.6 Global Wood Market Revenue Forecast, 2014 – 2023 (USD Billion)
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