Persistence Market Research is released upcoming report on title "Automotive Interior Materials Market: Global Industry Analysis and Forecast to 2020".
New York, NY -- (SBWIRE) -- 01/27/2015 -- The increasing automobile production and changing customer preferences in the interiors of their vehicles have been driving the automotive interior materials market. The original equipment manufacturers (OEMs) have been focusing largely on reducing the vehicle weight to increase their fuel efficiency which has been increasing their investment on the interior materials. Lighter vehicles consume less energy to accelerate as compared to their heavier counterparts. A 10% reduction in vehicle weight can increase the fuel efficiency by 6%-8%. The unstable global crude oil prices are compelling the manufacturers to develop low weight vehicles which have been creating demands for automotive interior materials market. Moreover, with the reduction in weight, the vehicles can carry additional advanced emission control systems, safety devices and integrated electronic systems without increasing its overall weight. Additionally, increasing interest of American and European user towards smart fabrics has been further adding up to benefit the automotive interior materials market.
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Based on their type, automotive materials market can be segmented into six categories namely fabric, genuine leather, artificial PU leather, artificial PVC leather, synthetic leather and thermoplastic polymer. These materials are used in automotive interior parts such as upholstery, seat-belts, airbags, floor and trunk carpets, seat structures and headliners. Synthetic leather was the largest segment in the global automotive interior materials market. The market for genuine leather which is used in automotive interiors is escalating due to the emerging regulations such as use of environment friendly leather, green chemistry in tanning processes and safe disposal of waste water.
The restraints associated with automotive interior materials market include increasing price for pure leather due to demand-supply gap and PVC ban in Europe. The use of nano-materials in automotive fabrics and incorporation of green technology in automotive leather manufacturing are emerging as opportunities for the automotive interior materials market. The profitability is becoming tougher for the automotive interior materials market payers due to the presence of several regulations at each level of supply chain wherein the manufacturers have to find the most suited combination in order to sustain.
Among regions, Asia Pacific dominated the global automotive interior materials market in 2013 followed by Europe. Asia Pacific is expected to continue with its global dominance by 2020 due to its increasing vehicle population. China, Japan, South Korea and India are the major markets for automotive interior materials. Apart from the growing automotive industry, lower transportation and labor costs and abundant availability of raw materials are the key growth factors for automotive interior materials market in Asia Pacific. The vehicle sales in Europe dropped down during the Euro-zone crisis which also impacted the demand for automotive interior materials in the region. However, as the economy is improving in the region, the automobile and its interior material sales is expected to increase in the forecast period.
The key companies in automotive interior materials market include BASF S.E., Dow Chemical Company, Johnson Controls Inc., E.I. DuPont De Nemours, Faurecia S.A., Borgers A.G., DK Leather Corporation Berhad, Eagle Ottawa, LLC, International Textile Group Inc. and Katzkin Leather Interior materials Inc. The global automotive interior materials market is very competitive with large a number of players, however it has been consolidating with a number of mergers and acquisitions taking place in the recent times.
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Key points covered in the report:
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.
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