Automotive interior materials refer to the various materials used in the design and production of the interior components of vehicles, such as seats, dashboards, door panels, headliners, carpets, and trim. These materials are chosen for their durability, aesthetics, comfort, and safety features.
The automotive interior materials market is highly competitive, with several key players dominating the industry. Some of the top companies in this market include Faurecia, Johnson Controls, Toyota Boshoku, Lear Corporation, and Adient PLC.
The market is segmented based on material type, application, vehicle type, and geography. Some common types of automotive interior materials include leather, vinyl, fabric, and thermoplastic polymers. The application of these materials can vary depending on the component, with leather and vinyl often used for seats and door panels, and fabric and carpet used for headliners and floor coverings.
The demand for eco-friendly and sustainable materials in the automotive industry is increasing, leading to the development of new materials such as recycled plastics and natural fibers. Safety features are also a major consideration in the selection of automotive interior materials, with many materials being chosen for their fire resistance, low toxicity, and ability to absorb impact.
According to Fortune Business Insights the global automotive interior materials market size is anticipated to reach USD66.38 billion by 2026,on account of the increasing production of automobiles worldwide. Automotive interior is the most crucial feature of an automobile that catches the user’s attention. Therefore, it is extremely essential to ensure it meets all safety and maintenance demands of the consumer. A recently published report by Fortune Business Insights™ offers a detailed analysis of the market and its prime growth parameters. According to the report, the market stood at USD 51.09 billion in 2018 and will rise at a CAGR of 3.84% between 2019 to 2026.
Competitive Landscape:
Merger and Acquisition Strategies to Help Players Gain Competitive Edge
The competitive landscape of the automotive interior materials market is segregated in nature owing to the presence of diverse portfolio. Companies such as DuPont launched a new series of renewably sources automotive materials that comprises of Sorona fiber that is utilized in seat fabrics, carpeting, and headliners of the vehicle. The surge in environmental concerns have propelled manufacturers to opt for renewable products to manufacture vehicles. Companies are acquiring strategies such as mergers and acquisitions, company collaborations, joint ventures and others to attract high automotive interior materials market in the forthcoming years.
Regional Segmentation:
Asia Pacific will Dominate Market Owing to Increasing Adoption of Electric Vehicles
Geographically, the global automotive interior materials market is categorized into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, Asia Pacific is holding the dominant automotive interior materials market share on account of rapid expansion of the market in countries such as China, South Korea, Thailand, India, and Japan. Moreover, the rise in adoption and sales of e-vehicles will also help this region continue dominating the market in the coming years. The market in Europe ranks second attributed to the increasing popularity of the e-vehicle market. However, North America market generated a significant automotive interior materials market revenue of USD 7,626.7 million in 2018. Growth of this region is attributed to the advent of electric vehicles and steady improvement of the automotive industry in the region. Furthermore, the Latin America market will witness healthy growth owing to the expansion of automotive industry in nations such as Mexico and Brazil.
List of Notable Automobile Interior Materials Market Manufacturers include:
- Freudenberg Performance Materials
- SEIREN Co., Ltd.
- Yanfeng Automotive Interiors
- Sage Automotive Interiors
- TOYOTA BOSHOKU CORPORATION
- Faurecia
- Lear Corporation
- Freudenberg Performance Materials
- DK-Schweizer
- Stahl Holdings B.V.
- Grupo Antolin
- DuPont de Nemours, Inc.
- Adient plc
- Other Vendors
Key Industry Developments of the Automotive Interior Materials Market Include:
January 2020 – Adient Plc., a company dealing with automotive interiors manufacturing sold 30% ownership stake in Yanfeng Global Automotive Interior Systems Co.Ltd to Yangfeng and entered into a joint venture until the end of December 2038.October 2018 – The Japanese manufacturer for chemicals and materials variety successfully announced the acquiring of Sage Automotive Interiors, aUS-based company.
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