Automotive Interior Materials Market Size – USD 57.20 Billion in 2018, Market Growth - CAGR of 4.4%, Market Trends – Increase in demand for automotive interior materials in the Plastics segment.
New York, NY -- (SBWIRE) -- 03/05/2021 -- The Global Automotive Interior Materials Market is forecast to reach USD 79.79 Billion by 2026, according to a new report by Reports and Data. The market is rising rapidly in the global market due to the high demand for automotive interior materials to ensure a high level of comfort and customization. Also, increase of the luxury vehicle market is helping the automotive interior market grow highly as the interiors of the luxury vehicles are the highest contributor to the market.
The Plastics segment had the highest market share of 27.9% in the year 2018 as the most used interior material in a vehicle because of its optimum durability and ruggedness. Also, plastic is very light in weight, which helps in reducing the overall fuel consumption of a vehicle. Metals are now being replaced with the plastics for manufacturing of the interior products nowadays.
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Key players operating in the Automotive Interior Materials Market:
Toyota Boshoku Corporation
Sage Automotive Interiors Inc
Yanfeng Automotive Interiors
Hyundai Mobis Co. Ltd
Asia Pacific region is forecasted to generate the highest revenue of USD 26.65 Billion in the year 2026, owing to its extensive market penetration coupled with the rising manufacturing industries and customers of passenger and cargo vehicles mostly in China, Japan, and India.
For the purpose of this report, Reports and Data have segmented the global automotive interior materials market on the basis of the interior product type, vehicle type, class, interior material type, and region:
Interior Product Type Outlook (Revenue, USD Billion; 2016-2026)
Airbags & Seatbelts
Carpets & Floor Matts
Vehicle Type Outlook (Revenue, USD Billion; 2016-2026)
Class Outlook (Revenue, USD Billion; 2016-2026)
Interior Material Type Outlook (Revenue, USD Billion; 2016-2026)
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Regional Outlook (Revenue, USD Billion; 2016-2026)
Further key findings from the report suggest:
Seats segment is forecasted to gain a CAGR of 5.3% throughout the forecast period and a market share to reach 20.8% by 2026. Passenger vehicles possess more number of seats, and cargo vehicles are kept vacant to have more space for the goods. Structural body panel was mostly made of metals, which is now being made of high-grade plastics for its less-weight.
Passenger vehicle are made for the purpose of carrying passengers. These vehicles range from one-seater to more than 60 seaters. Bike, auto-rickshaw, cars, buses are some of the instances of the passenger vehicle. Passenger vehicles has the fastest growth rate of 5.3% during the forecast.
Utility Vehicles are some kind of generic vehicles which are focused for particular end-use. For instance, vanity vans are designed for the celebrities for their dressing, make-up, refreshment, and other luxurious utilities. This segment had a market revenue of USD 4.89 Billion in 2018.
Genuine Leather has a market share of 11.4% in the year 2018. This material is mostly used in the seats and covering objectives.
Plastics is the most used material in a vehicle because of its optimum durability and ruggedness. The segment is forecasted to gain a CAGR of 5.6% during the forecast period.
APAC, owing to its largest motor vehicle fleet and increasing manufacturing industries and consumer base of the automotive, is helping the market grow with the fastest CAGR of 6.2% throughout the forecast period. China, Japan, and India are some of the active contributors in this region.
North America is accounted to gain 27.5% of market possession by 2026 with a CAGR of 5.2% in the forecast period.
Europe is forecasted to witness a significant growth in the overall market, with 16.2% of market possession by 2026 and CAGR of 2.3% during the forecast period.
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Major Highlights of the Report:
The latest report offers a vivid depiction of the global Automotive Interior Materials business sphere, with prime focus on its fundamental operations, industrial chain analysis, current and future market trends, as well as the prominent growth opportunities.
The report includes critical information on the present and historical market scenarios. Such information is used by market analysts to forecast the likely market conditions over the next eight years (2020-2027).
The strategic marketing recommendations, vital information related to the new market entrants, and the expansion plans of various business verticals are expected to help the reader visualize the competitive edge of the market.
Furthermore, the report scrutinizes the salient factors influencing the growth of the market in the near future.
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Automotive Interior Materials Market Segmentation & Impact Analysis
4.1. Automotive Interior Materials Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Increasing demand for comfortableness and customization in passenger vehicles
188.8.131.52. An impressively rising number of passenger vehicles
184.108.40.206. Use of light-weight interior materials
220.127.116.11. Affordability of low-costing polymers
4.2.3. Market restraints analysis
18.104.22.168. The increasing price of leathers
22.214.171.124. Regulations against some non-environment-friendly polymers & man-made leathers
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 5. Automotive Interior Materials Market By Interior Product Type Insights & Trends