The growing automotive industry in emerging economies, as well as a growing emphasis on vehicle weight reduction to improve fuel efficiency, are expected to drive the Automotive Interior Materials Market over the forecast years.
JERSEY CITY, N.J., Oct. 21, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Automotive Interior Materials Market” By Product (Synthetic Leather, Leather, Thermoplastic Polymer, Fabric), By Application (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), and By Geography.
As per the deep research carried out by Verified Market Research, the global Automotive Interior Materials Market size was valued at USD 33.8142 Billion in 2020 and is projected to reach USD 46.59 Billion in 2028, growing at a CAGR of 4.09% from 2021 to 2028.
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Browse in-depth TOC on “Automotive Interior Materials Market“
202 – Pages
126 – Tables
37 – Figures
Global Automotive Interior Materials Market Overview
Resources used inside cars’ cabins are called automotive interior materials. They consist of plastics, metals, and composites. The weight of the entire vehicle is crucially dependent on the cabin section. To reduce emissions, it is crucial to create interior materials that are lightweight. Materials are categorised into Synthetic Leather, Leather, Thermoplastic Polymer, Fabric, and Others depending on the product. Passenger cars, light commercial cars, and heavy commercial cars are some of the vehicles for which interior materials for automobiles are used.
The Automotive Interior Materials Market is expected to be driven by the growing automotive industry in emerging economies, as well as a growing emphasis on vehicle weight reduction to improve fuel efficiency over the forecast years. Furthermore, the market is expected to grow rapidly in the coming years due to the rapid growth of passenger vehicles. Furthermore, the market is expected to be driven by rising demand for premium grade interiors with superior aesthetic appeal and tactile experience during the forecast period.
Key Developments
- In May 2018, Adient Plc (US) opened a plant in Kenitra, Morocco. This will produce high-quality materials for automotive seating and other interior applications. With this plan, the company is planning to expand its foothold to northern Africa and southern Europe serving the major customers such as BMW, Nissan, Opel, PSA, and Renault.
- In April 2017, Lear Corporation (US) acquired Grupo Antolin’s (Spain) automotive seating business. Grupo Antolin’s seating business is well established in leading European automakers such as Peugeot Citroen, Daimler, Renault, Nissan, and Volkswagen. This acquisition will help the company in strengthening its seating business tap the untapped market.
Key Players
The major players in the market are 3M, BASF, Dow Dupont, Toyoda Gosei, Assan Hanil, Borealis, Borgers, BSW, Celanese, Covestro, Hutchinson, Mitsui Chemicals, Toyota Boshoku, Lear.
Verified Market Research has segmented the Global Automotive Interior Materials Market On the basis of Product, Application, and Geography.
- Automotive Interior Materials Market, By Product
- Synthetic Leather
- Leather
- Thermoplastic Polymer
- Fabric
- Others
- Automotive Interior Materials Market, By Application
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Automotive Interior Materials Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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