Global Automotive Interior Materials Market expected to generate revenue of around USD 59.97 billion by 2024
Global Automotive Interior Materials Market Size
The global automotive interior materials market is anticipated to generate approximately USD 59.97 billion by 2024, expanding at a CAGR of approximately 4.2% between 2018 and 2024. The market for automotive interior materials is segmented by product type into composites, fabrics, leather, plastics, and metals.
Automotive interior materials are an essential component because they contribute to the vehicle's ambiance, provide driving pleasure, and maximise driver and passenger comfort. These interiors are intended to provide driver and passenger comfort. In the past, only luxury vehicles had high-quality interiors, but these days, even affordable mid-sized cars have premium interiors. Consequently, automakers are developing cost-effective technologies for the interior materials of compact and affordable vehicles.
In the coming years, the market for automotive interior materials is expected to be driven by the rising demand for passenger vehicles and its rapid expansion across the globe. In addition, the introduction of innovative automobile designs is anticipated to create lucrative market expansion opportunities.
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Analysis of the Global Automotive Interior Materials Market
The report provides a global and regional forecast and analysis of the Global automotive interior materials market. The report includes historical data from 2015 to 2017 as well as projections for 2018 to 2024 based on volume (Kilograms) and revenue (USD Billion). The study includes market drivers and restraints for automotive interior materials, as well as their impact on demand during the forecast period. In addition, the report contains a global analysis of market opportunities for automotive interior materials.
To provide readers with a thorough understanding of the automotive interior materials market, we have included a competitive landscape and an analysis of Porter's Five Forces model. The study includes an analysis of market attractiveness in which product segment, vehicle type segment, and application segment are compared based on market size, growth rate, and overall attractiveness.
The report provides company market share analysis to provide a comprehensive overview of the market's major players. In addition, the report includes key strategic developments of the market, such as acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and product and regional expansion of major market participants on a global and regional scale. Moreover, the study includes an analysis of regional price trends and the material portfolios of various companies.
Segmetation of Global Automotive Interior Materials Market
By segmenting the market based on product, vehicle type, application, and region, the study provides a comprehensive analysis of the automotive interior materials market. All segments have been analysed based on current and future trends, and the market from 2018 to 2024 has been estimated. The regional segmentation comprises historical and projected demand for North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. This segmentation includes the demand for automotive interior materials across all regions and nations.
This global market is comprised, by vehicle type, of passenger cars, heavy commercial vehicles, and light commercial vehicles. The segment for passenger cars is expected to lead the market in the coming years, as passenger cars are the most widely used vehicle type worldwide. Increasing demand for automobile ownership, a growing preference for automotive interior materials, and rising living standards are likely to contribute to the expansion of this market segment. In addition, the demand for passenger cars is projected to increase in the coming years due to the growing need for safe and comfortable transportation.
Asia-Pacific dominated the automotive interior materials market in 2017 in terms of both revenue and volume. Due to the increasing use of automotive interior materials for various vehicle types in emerging economies such as India and China, it is anticipated that the region will maintain its dominance throughout the forecast period. This is a result of the rising need for automobile ownership, the rising demand for automotive materials in passenger vehicles, and the rising living standards of the population.
Global Automotive Interior Materials Market Key Players or Competitors
Bayerische Motoren Werke AG , Stahl Holdings B.V. , Lear Corporation, Toyota Boshoku America , Toyota Motor Corporation , Delphi Automotive, Grammer AG , DK Leather , Henkel , 塞拉尼斯 , Toyoda Gosei Americas
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The market for automotive interior materials is segmented by product type into composites, fabrics, leather, plastics, and metals. The plastics segment held a significant revenue share in 2017 and is anticipated to maintain its dominance throughout the forecast period.
This growth is attributable to technological advancements in blended polymers, the appearance of contemporary plastic interiors, and design and processing techniques. In addition, the rising demand for aesthetically pleasing vehicle interiors is anticipated to increase the demand for plastics in automotive interiors in the near future.
The automotive interior materials market is segmented by application into door panels and trims, dashboards, airbags, seat belts, carpet and headliners, seats, and others. The dashboard segment held a substantial market share in 2017 and is projected to maintain its dominance in the coming years. The automotive industry is significantly impacted by the improvement of dashboards and their materials, as dashboards are now expected to be eco-friendly. In addition, the increased production of dashboards utilising innovative technologies, materials, and designs is anticipated to contribute to the expansion of the automotive interior materials market.
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