New York
City, 31 January 2019: The global Automotive Interior Materials Market is anticipated to reach
USD 132.82 billion by 2026 according to a new study published by Polaris Market
Research. Global automotive interior material industry is expected to grow
significantly over the forecast period from 2018 to 2026 owing to numerous
advancements that is driven by a strong rebound in worldwide weight saving and
aesthetic appearance primarily in Western Europe, North America and Asia
Pacific are projected to augment demand for light weight interior material.
Demand from passenger car segment will also grow at a higher pace in comparison
to its counterparts that will benefit from an improved weight shaving and
aesthetic appeal.
Automotive interior materials are
directly related with the vehicle manufacturing status. Thus, the market’s
directions are meticulously reliant on production and demand of vehicles.
Moreover, the automotive interior materials market is also governed by
government regulations and rules, exclusively for the genuine leather industry;
availability and pricing of automotive interior materials. Rise in disposable income
has also led towards the rise in demand for vehicle in emerging countries such
as Brazil, China and India are supporting the demand for automotive interior
materials. Intramural substitution for several materials is expected to take
place in the automotive interior materials market. For example, synthetic PU,
fabrics or PVC leather are generally used as a substitute for genuine leather
material. Increasing emphasis on interior compartments of a vehicle and taken
on priority by OEMs as well as customers.
Competitive Landscape and Key Vendors:
On the basis of
regions, the automotive interior material is segmented into North America, Asia
Pacific, Europe and Middle East & Africa. Asia Pacific being the largest
manufacturer of automotive vehicle special passenger cars, is expected to hold
the lion’s share of the automotive interior materials market. Rising disposable
income among the population of Asia Pacific is further going to raise the
demand for premium materials such as composites, alloys and genuine leather.
Europe is the next largest share hold in the automotive interior material
market. Amongst Europe, Western Europe is expected to hold the prime share in
the market. North America with its slow growth rate in vehicle production is
expected to show a neutral growth rate in the automotive interior material
market.
Some of leading industry participants
include Fauracia SA, Lear Corporation, Toyota Boshoku Corporatio, Borgers SE
& Co, DK Leather Corporation Berhad, Johnson Controls, Grupo Antolin,
Takata Corporation, Yanfeng Automotive Interiors, Magna International, Hyundai
Mobis Co and Calsonic Kensei Corporation among others.
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