[150+ Pages Report] The automotive interior materials market size in terms of value is projected to reach $ 42.60 billion by 2030, at a CAGR of 5.6% between 2021 and 2030, according to a 2021 study by Precedence Research, the Canada based market insight company.
The study provides the overall revenue of the global automotive interior materials market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year.
The global automotive interior materials market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the automotive interior materials industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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Increasing demand for light weight vehicle and hence its body parts and other materials used in the manufacturing process is one of the significant factors that drives the market for automotive interior materials in the coming years. Cabin section of an automobile is very critical for the overall weight of a vehicle and making light weight automotive interior materials are imperative for conserving the emission level. Superior functions and attributes of cabin components have significantly increased the number of interior automotive components.
Further, rising demand for low-emission materials particularly from the emerging nations along with stringent fuel economy standards have propelled the market growth for automotive interior materials. For instance, in 2018, the Ministry of Industry and Information Technology (MIIT) in China issued new guidelines for the passenger vehicles sold in the country. Under the guideline, new vehicle should meet the average fuel economy of 5.8 liters per 100 kilometers. In the last decade, the average fuel efficiency of new cars in China is better compared to USA, Europe, Japan, Australia, and other parts of the world.
However, rising prices for natural leather anticipated to hinder the market growth and likely to propel the demand for synthetic leathers. This is mainly attributed to the demand-supply gap along with increasing regulations for the use of synthetic leathers. As synthetic leathers are not bio-degradable, hence governments of various regions have issued stringent regulations on the application of synthetic leathers as well as to promote the application of natural leathers in various industries. The aforementioned factors are expected to prosper the market growth of automotive interior materials in the near future.
|Market Size||USD 42.60 Billion by 2030|
|Growth Rate||CAGR 5.6% from 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Material, Vehicle, Application, End-User|
|Key Companies Profiled||Evonik Industries AG, UFP Technologies, Saudi Basic Industries Corporation (SABIC), Arkema, BASF SE, Stahl Holdings B.V.|
By geography, the Asia Pacific is the front-runner in the global automotive interior materials market and estimated to continue the same trend in the upcoming period. The region estimated to hold nearly 50% of the revenue share by the analysis period. This is mainly because of rising sale of automobiles in the region. Rising urbanization, robust economic development, and rising purchasing power of middle-class people in the region are other significant factors that propel the growth of automotive interior materials market. Apart from this, proliferating demand of passenger cars along with supportive government measures like to accelerate the demand for automotive interior materials in the region.
- The Asia Pacific leads the global automotive interior materials market owing to prominent growth of automotive industry in the region
- North America and Europe are the significant markets in the global automotive interior materials owing to stringent regulations and amendments in the automotive applications
- By material, plastics captured majority of revenue share in the year 2020 because of its favorable capabilities to make a vehicle lighter and more appealing in terms of aesthetics
- In terms of application, seats dominated the global automotive interior materials market and hold nearly 30% in the year 2020 owing to an important segment for driver and passenger comfort
- Based on vehicle, passenger car leads the global automotive interior materials market in the year 2020 and projected to maintain the same trend over the forecast period due to high sales rate compared to other vehicle types
- On the basis of end-users, aftermarket captured considerable revenue share and register a fast growth during the forecast period because of increasing demand for parts change in vehicles
Top Players Contending in the Market:
The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global automotive interior materials market are as follows:
- Evonik Industries AG
- UFP Technologies
- Saudi Basic Industries Corporation (SABIC)
- BASF SE
- Stahl Holdings B.V.
- Hexcel Corporation
- Continental AG
- Toray Industries Inc.
- Huntsman International
- Sumitomo Chemical Company
- Dow Chemical Company
- Trinseo S.A.
- Borealis AG
- Covestro AG
By Material Outlook
- Glass Fiber
- Carbon Fiber
- Natural Fiber
By Vehicle Outlook
- Passenger Cars
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
By Application Outlook
- Consoles & Dashboards
- Floor Carpet
- Steering Wheels
By End-users Outlook
- North America (U.S. and Canada)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Some of the key highlights of the report are:
- Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
- Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Competitive Landscape Analysis – Some of the leading companies operating in the automotive interior materials market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Why should you invest in this report?
If you are aiming to enter the global automotive interior materials market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for automotive interior materials are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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