Interior Materials Market 2020 - Overview and Analysis

Posted by sagark on January 30th, 2020

Summary

Global Interior Materials Market Research Report: Information by Type (Synthetic Leather, Fabric, Thermoplastic Polymer, Leather and others), Vehicle Type (Passenger and Commercial Vehicle) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025

Interior Materials Market Synopsis

The global Interior Materials market is predicted to garner USD 149.6 billion during the forecast period (2014-2027). The market is considered to expand at 8.72% CAGR owing to the burgeoning demand for visual appearance of a car, asserts Market Research Future (MRFR). Automotive interiors can be referred to the interior components present in the cabin of a vehicle and comprises components such as dashboards, cockpit, door panels, and seats. Automotive interior elements are an important part of a vehicle as they help to enhance its ambiance and provide driving pleasure by maximizing the comfort level of both the drivers and the passengers. High-grade interiors were only found in luxury vehicles previously, but these days even the mid-sized cars feature premium interiors.

Drivers and Constraints Impacting the Market

With the burgeoning demand for visual appearance of a car among the consumers, the automotive interiors are gaining importance across the globe. The growing prevalence of customization in automobiles by the individuals have further to the market growth during the appraisal period. Automotive industries being one of the most competitive industries globally, manufacturers are competing against each other in order to expand their customer base, which is further resulting in intense competition. This has resulted to high quality product being delivered to the customers, which is considered to fuel the automotive interior material market during the estimated period.

On the flip side, the rising cost of genuine leather owing to the demand-supply gap coupled with the regulations concerning synthetic leather are some of the major concerns anticipated to slowdown the market growth in the coming years.

Industry Updates

January 14, 2019: Corning Incorporated has recently introduced two new auto interior glass solutions at the Consumer Electronics Show in Las Vegas.  The company’s latest gorilla glass for automotive interiors solutions have been designed to address the new trends and offer the highest product performance.

Competitive Dashboard

The prominent players operating the global automotive interior material market are Lear Corporation (U.S), NTF India Pvt Ltd (India), Sage Automotive Interiors. Inc (U.S), Toyoda Gosei Co. Ltd (Japan), Toyota Boshoku Corporation (Japan), Faurecia S.A (France), and BASF Automotive Solutions (Germany).

Global Interior Materials Market: Segmental Analysis

The Interior Materials market has been segmented on the basis of type, vehicle type, and region.

By mode of type, the global automotive interior material market has been segmented into fabric, synthetic leather, leather, and thermoplastic polymer. Polymers are considered to be the largest type of automotive interior material used as they are light in weight and help to reduce the overall weight of the vehicle.

By mode of vehicle type, the global automotive interior material market has been segmented into commercial vehicle and passenger vehicle. Among these, the passenger vehicles segment is considered to be the largest vehicle type owing to the high standard of living, increasing income, and growing economic conditions. Moreover, the need for safe and comfortable commute is anticipated to drive the segment.

Regional Insights

Geographically, the Interior Materials market span across regions namely, Europe, Asia Pacific, North America, and Rest-of-the-World (Row).

Among all the regions, the Asia Pacific region is considered to occupy the largest market share during the appraisal period. The demand for automobiles is highly driven by the increasing population in economies such as India and China. Initiatives from the government towards safety drive are further promoting to the market growth.

The European region exhibits a significant growth rate and is considered to maintain its dominance in the coming years. Regulations associated with the improvement in crash performance and countermeasures in order to keep the passengers safe is fueling the market growth in this region.

Get Full Report @ https://www.marketresearchfuture.com/reports/automotive-interior-material-market-2675