Automotive Interior Materials Market: Global Size and Trends 2020 to 2030
The GlobalAutomotive Interior Materials Market size was valued to USD 102.19 billion with avolumetric sale of 23,270 kilotons in 2019, and is predicted to reach USD189.78 billion with a booming sale of 35,058 kilotons by 2030, with arespective CAGR of 5.7% and 3.7% from 2020-2030.
Automotive interior materials are specificallydesigned automotive supplies, crafted to suit the in-vehicle interiors, henceproviding immense comfort level, enhanced safety features, and an appealingappearance to the automobiles. The materials used to design the interiors aremajorly plastic, metal, fabric, leather, composites, and others. Thesematerials are crafted to be light-weight and durable in-order to increase theefficiency, decrease the fuel consumption as well as influence the buyer’sperception with its aesthetics.
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MarketDynamics and Trends:
Theautomotive interior materials market is observing lucrative opportunities owingto existing market trends regarding totally-flexible interiors, growing demandfor premium vehicles with luxurious automotive interior, fully automaticpositioning of components, selective air-bags, crash controls to enhance thesafety of drivers as well as wide-range of customizable options open for thecustomers.
Besides,factors such as evolving concept of low-emission light weight automotiveinteriors, stringent regulations regarding fuel-economy, increasing disposableincomes at global level, increasing customer preferences for leather-lining invehicle interiors as well as inclination of manufacturers towards eco-friendlycomponents in-order to reduce their carbon footprints, are anticipated infostering growth of the automotive interior materials market throughout theforecast period.
Market Segmentations andScope of the Study:
Theglobal automotive interior materials market share analysis is based on type,vehicle, and geography.
Basedon type, the market is segmented into metal, fabric, leather, plastics,composites, and others. The plastics are sub segmented into PP, ABS, PC, andOthers. The metals are further divided into Steel, Aluminum, and Others. Theleather is further sub segmented into Genuine and Synthetic. The composites arefurther classified into GFRP and CFRP. Based on vehicle, the market is dividedinto passenger and LCV. Geographic breakdown and analysis of each of thepreviously mentioned segments include regions comprising North America, Europe,Asia-Pacific, and RoW.
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Geographical Analysis:
NorthAmerica is expected to dominate the global automotive interior materialsmarket, accounting for the highest market shares. This is attributable tofactors such as rapidly increasing GDP and high employment rate in this region.Moreover, increasing demand for electric vehicles is expected to drive thegrowth of the automotive interior materials market throughout the forecastperiod.
AsiaPacific is expected to show rapid growth with constant development in themarket share due to growing demand for premium segment vehicles with luxuriousautomotive interiors. Furthermore, rapidly increasing per-capita disposableincome coupled with increased demand of durable and lightweight materials arealso expected to support the growth of automotive interior materials market.
Competitive Landscape:
Thehighly competitive automotive interior materials market, consists of variousmarket players. Some of the major market players include Benecke-Kaliko AG,Basf Se, Borgers Se & Co. Kgaa, DK-Schweizer Co., Ltd., Dow ChemicalCompany, E.I. du Pont de Nemours & Co., Eagle Ottawa LLC, Johnson Controls,Inc., Faurecia Automotive Gmbh., Katzkin Leather, Inc., Sage AutomotiveInteriors, Inc. and Lear Corporation among others.
Thepast endeavors, present developments and futuristic advancements, sum-up to comprehend the overall growth of the global automotive interior materials market.
Key Benefits:
The Automotive interior materials market report provides a quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the Automotive interior materials market trend including current and future trends for depicting the prevalent investment pockets in the market.
The report provides detailed information related to key drivers, restraints and opportunities and their impact on the automotive interior materials market.
The report incorporates competitive analysis of the market players along with their market share in the global automotive interior materials market.
The study elaborates SWOT analysis and Porters Five Forces model for the automotive interior materials market.
Value chain analysis in the Automotive interior materials market study provides a clear picture of the stakeholders’ roles.
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