Optimizing fuel efficiency by reducing the overall weight of vehicle driving the Automotive Interior Materials Market

(MENAFN – GetNews) Automotive Interior Materials Market by Type (Synthetic Leather (PU & PVC), Genuine Leather, Polymers, Fabric), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Region

The global automotive interior materials market is estimated to be USD 46.63 in 2018 and is projected to grow at a CAGR of 3.5% to reach USD 55.41 billion by 2023. The increasing demand is attributed to the growing automotive industry in emerging regions. Players in this market are adopting various organic and inorganic strategies to expand their presence in emerging markets, such as India, China, Thailand, and Brazil.

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The introduction of government regulations for vehicle safety, reduction of carbon emission, and lightweight of vehicles is forcing OEMs to provide enhanced safety features in vehicles and use materials that will help in an overall weight reduction of the vehicle. According to EPA, every 100 pounds taken out of the vehicle increases the fuel economy by 12%. This is achieved by making the upholstery flexible and light yet tough to replace with the similar volume of plastic, as plastic components have a higher mass compared to the textile. Thus, replacing plastic with lighter interior materials results in an overall reduction in vehicle weight and at the same time maintaining the safety standards of the vehicle. Hence, manufacturers are encouraged to use automotive interior materials.

Polymers are the most widely used type of automotive interior material

The polymers segment accounts for the largest share of the overall automotive interior material. Automotive interior polymers are used in the manufacture of lightweight and durable interior components. The use of components manufactured with these lightweight polymers helps reduce the overall weight of the vehicle and makes it fuel-efficient.

Passenger vehicles are projected to be the fastest-growing segment in the overall market

The automotive interior materials market in the passenger vehicles segment is projected to witness the highest growth during the period between 2018 and 2023. This vehicle type is also estimated to account for the largest share of the overall interior materials market. This high growth is attributed to the rapidly increasing demand for passenger vehicles. Improving living standards, rising economic conditions, and higher incomes are leading to the increasing demand for passenger vehicles.

APAC is the global leader in the automotive interior materials market. China, India, and Southeast Asian countries are witnessing a significant increase in the use of automotive interior materials for different vehicle types. The production of an automobile is increasing in the region with the growing demand for vehicles. With improving standards of living, the demand for fuel-efficient automobiles is rapidly growing.

The automotive interior materials industry has several global players competing for a share of the market. These companies are actively investing in various strategies, such as expansions, new product developments, mergers & acquisitions, and joint ventures projects, to increase their market shares. Adient plc (Ireland), Toyota Boshoku Corporation (Japan), Lear Corporation (US), Toyoda Gosei Co., Ltd. (Japan), Faurecia S.A.

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Automotive Interior Market Size to Witness Huge Growth by 2027

The MarketWatch News Department was not involved in the creation of this content.

Sep 25, 2020 (Heraldkeepers) —
Lear Corporation, Magna International Inc., Delphi automotive PLC are among the major players in the global Automotive Interior market share. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.

The Global Automotive Interior Market is expected to exceed more than US$ 330.50 billion by 2024, at a CAGR of 5% in given forecast period.

Browse Full Report: https://www.marketresearchengine.com/automotive-interior-market

Interior trims, upholstery, and other adornments play a crucial role in the sale ability of a car. In addition, vehicle interior is the first and foremost factor that influences a buyer’s perception regarding the quality of a vehicle. Need to increase fuel efficiency, technological advancement & growth in demand for luxurious vehicles, and focus on well-being of drivers is the major factors that drive the growth of the market.

The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Automotive Interior market share. Major industry players with significant revenue share include Lear Corporation, Panasonic Corporation, and Magna International, Inc. etc.

The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies.

Global Automotive Interior market is segregated on the basis of vehicle type as passenger vehicles, heavy commercial vehicles, light commercial vehicles. Based on component type, the global Automotive Interior market is segmented in dome model, headliner, central console, door panel, interior lighting, cockpit module, automotive seats and others.

Global Automotive Interior market report provides geographic analysis covering regions such as North America, Europe, Asia Pacific, and Rest of World. The Automotive Interior market for each region is further segmented for major countries including U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Brazil, South Africa and others.

Global Automotive Interior market report scope includes detailed study covering underlying factors influencing the industry trends.

The report covers:

  • Global Automotive Interior market sizes from 2015 to 2024, along with CAGR for 2018-2024.
  • Market size comparison for 2017 vs 2024, with actual data for 2017, estimates for 2018 and forecast from 2019 to 2024
  • Global Automotive Interior market trends, covering comprehensive range of consumer trends & manufacturer trends
  • Value chain analysis covering participants from raw material suppliers to the downstream buyer in the Automotive Interior market
  • Major market opportunities and challenges in forecast timeframe to be focused
  • Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
  • Comprehensive company profiles of the key industry players

Reasons to Buy this Report:

  • Gain detailed insights on the Automotive Interior industry trends
  • Find complete analysis on the market status
  • Identify the Automotive Interior market opportunities and growth segments
  • Analyse competitive dynamics by evaluating business segments & product portfolios
  • Facilitate strategy planning and industry dynamics to enhance
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Automotive Interior Materials Market | Insights on the Crisis and the Roadmap to Recovery from COVID-19 Pandemic | Technavio

LONDON–(BUSINESS WIRE)–The global automotive interior materials market is expected to register an incremental growth of USD 15.13 billion, witnessing a CAGR of over 2% during 2020-2024, according to latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the automotive interior materials market in optimistic, probable, and pessimistic forecast scenarios.

Get detailed insights on COVID-19 pandemic Crisis and Recovery analysis of automotive interior materials market. Download free report sample

The automotive interior materials market will witness a negative and inferior impact during the forecast period owing to the extensive spread of COVID-19 pandemic. Furthermore, as per Technavio’s pandemic-focused research highlights, the market growth is likely to increase compared to 2019.

Automotive Interior Materials Market 2020-2024: Vendor Analysis

The market is fragmented. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. With a rapidly shifting focus toward creating a digital marketplace to provide a convenient platform for stakeholders in the supply chain, several companies in the market are resorting to move their businesses online along with existing brick-and-mortar channels.

Major automotive interior materials market participants are

  • 3M Co.
  • Adient Plc
  • BASF SE
  • DuPont de Nemours Inc.
  • Faurecia SA
  • GRAMMER AG
  • Lear Corp.
  • Marelli Holdings Co. Ltd.
  • Dow Inc.
  • Toyoda Gosei Co. Ltd.
  • Toyota Boshoku Corp.

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Automotive Interior Materials Market 2020-2024: Segmentation

Automotive Interior Materials Market is segmented as below:

  • Material
    • Plastic polymers
    • Leather
    • Textile fabric
    • Others

Plastic polymer will account for the largest share due to its advantages such as minimal corrosion, ease of manufacturing into any complex shape and in different colors, recycling possibility, and safety and comfort properties.

  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

APAC region will account for the highest incremental growth during the forecast period due to the presence of global key players and many regional and local players.

The automotive interior materials market is driven by the use of composite materials for weight reduction and growing priority for comfort and safety in automobiles, as per Technavio’s pandemic impact-focused research study. Furthermore, Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets and significant developments in vendor operations and government regulations in the Consumer Discretionary industry.

For gaining more insights about the impact of COVID-19 pandemic on related reports, check out Technavio’s Consumer Discretionary section

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

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Automotive Interior Materials Market Size, Share, CAGR and Forecast 2020 to 2030

The MarketWatch News Department was not involved in the creation of this content.

Sep 09, 2020 (Profound via COMTEX) —
The Automotive Interior Materials market report provides analysis for the period 2018-2030, where in the period from 2020 to 2030 is the forecast period and 2019 is the base year. The report covers all the major trends and key drivers playing a major role in Automotive Interior Materials market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the forecast period. The study provides a holistic perspective on the Automotive Interior Materials market’s growth throughout the above mentioned forecast period in terms of revenue (in US$ Bn), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East amp; Africa (MEA).

The market overview section of the report demonstrates the market dynamics and trends that influence the current nature and future status of this market. An attractiveness analysis has also been provided for every geographic region in the report, in order to give a thorough analysis of the overall competitive scenario of the Automotive Interior Materials market. Moreover, the report provides an overview of the various strategies adopted by key players of Automotive Interior Materials present in the market. Product definition and introduction chapter helps in understanding different Connectivity of Automotive Interior Materials used across all the regions.

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Segmentation

The report provides in-depth cross-segment analysis of the Automotive Interior Materials market and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels. Moreover, report also provides in depth study of size of Automotive Interior Materials market.

Precedence Research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.

In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global Automotive Interior Materials market in terms of value (US$ lsquo;000) and volume (Mn Units).

the global automotive interior materials market can be classified as synthetic leather, PU leather, fabric, genuine leather, PVC leather, and thermoplastic polymers. The synthetic leather market segment commands the major market share of the automotive interior materials market in terms of revenue.
The Asia-Pacific regional market is the largest consumer of synthetic leather and is anticipated to grow at an impressive growth rate of over 10% during the forecast period. The Mexican market is anticipated to be the swiftest growing synthetic leather market and is forecasted to grow at a significant growth rate of over 18% during the future years.

Among different market segments, the PU leather market is anticipated to be the swiftest growing segment over the future period and is projected to register swift growth rate of over 10% during forecast period.

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