Automotive Interior Materials Market is Anticipated to Grow Substantially at a CAGR of ~6% During the Forecast Period - PMR

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23 Jul, 2019, 11:00 GMT

NEW YORK, July 23, 2019 /PRNewswire/ -- PMR has recently published a report on the automotive interior material market, which offers the global industry analysis 2014–2018 and forecast 2019–2029 and all the key factors that influencing the market growth. The report also includes all the key information, recent trends, macroeconomic factors, and forecast factors, which are directly impacting the market growth. PMR has analyzed through primary survey analysis with market key participants of the automotive industry.

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The automotive interior material market report projects that the passenger vehicle segment in vehicle type and the fabric segment in material type are likely to make substantial progress and create opportunities in the global automotive interior material market with respect to both, market volume and value during the forecast period. The market value of the global automotive interior material market was valued at ~US$ 98.9 Bn in 2018. The automotive interior material market is anticipated to grow substantially at a CAGR of ~6% during the forecast period.

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'Green' Automotive Interior Materials Creating a Buzz

The automotive interior material market is being driven by the notable rise in the demand for 'green' materials to maintain sustainability in the environment. Automotive interior materials hold a prominent market share in developing countries of the world, such as India & China.

Furthermore, governments and authorities of several countries encourages the use of lightweight and novel polymers in automotive interiors to reduce carbon emissions and lower the energy consumption levels. For instance, consumers all over the world are preferring aesthetic and innovative designs in automobile interiors with greater comfort.  These factors play a vital role in the rising sales of automotive interior materials, which is further estimated to increase the growth of the automotive interior material market over the forecast period.

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Additionally, the increasing demand for connected, autonomous, and electric vehicles will account for several manufacturers to manufacture custom innovative interiors based on the consumers' demand. Market players are coming up with advanced design capabilities and processing technologies in manufacturing automotive interior materials. This factor is creating opportunities for the development of lightweight materials and novel polymers, and is expected to significantly impact the growth of the automotive interior material market.

South Asia and China Hold the Opportunistic Promise

The global automotive interior material market report includes market volume (Mn sq. meter and '000 tons) as well as value.  According to PMR study, China is expected to account for highest market share in the global automotive interior material market during the forecast years. The growing demand for lightweight and novel polymers in automobile interiors and increasing demand for environment friendly and renewable materials are boosting the market growth.

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China is anticipated to hold a prominent share in the East Asia region during the forecast period. The automotive interior material market is expected to rise at a CAGR of ~6% in terms of value during the forecast years. The automotive interior material market report studies the concerned markets and related facts across different regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa.

The report has also measured all considerable macroeconomic factors and forecast factors while analyzing the automotive interior material market in terms of size. The material type segment, fabrics & passenger cars segments in vehicle type are projected to create incremental market revenue in the automotive interior material market.

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Global Automotive Interior Material Market: Competitive Landscape

Some of the key players in the automotive interior material market involved in this study are Sage Automotive Interiors, Inc., Ltd., Faurecia S.A., Lear Corporation, Johnson Controls International PLC, Toyota Boshoku Corporation, Benecke-Kaliko AG, GST AutoLeather, Inc., Seiren Co., Ltd., DK Leather Corporation, Yanfeng Automotive Trim Systems Co., Grupo-Antolin Irausa, S.A, and Mayur Uniquoters Ltd., among others.

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