Westford,USA, July 13, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest,the automotive interior materials market is anticipated to experience a moderate impact due to disruptions in the global supply chain. This can be attributed to the market's significant dependence on industries such as refinery and petrochemical, chemical, metal, and power generation.
Browse in-depth TOC on "Automotive Interior Materials Market"
- Pages - 280
- Tables - 96
- Figures – 76
The demand for automotive interior materials market is projected to grow substantially, with the increased demand for passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Essential automotive interior components are considered standard features across all vehicle types, creating a consistent demand for interior materials.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 78.2 Billion |
| 2030 Value Projection | USD 80.2 Billion |
| CAGR | 3.9% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Automotive Interior Materials Market
- Lear Corporation
- Johnson Controls International PLC
- Faurecia SA
- Toyoda Gosei Co. Ltd.
- Adient plc
- Grupo Antolin-Irausa S.A.
- Sage Automotive Interiors Inc.
- Seiren Co. Ltd.
- DK Leather Corporation Berhad
- Bader GmbH & Co. KG
- Suminoe Textile Co. Ltd.
- Futuris Automotive Inc.
- Nihon Plast Co. Ltd.
- GST AutoLeather Inc.
- BASF SE
- Covestro AG
- ExxonMobil Chemical Company
- Sabic
- DuPont de Nemours, Inc.
- Koninklijke DSM N.V.
Plastic Segment is Expected to Grow the Market Due to the Remarkable Advancements in Blended Polymers
Plastic holds a significant 43.6 per cent share of the automotive interior materials market. This dominance can be attributed to the remarkable advancements in blended polymers, design, and processing techniques, enabling modern plastic interiors to exude a premium look and feel. As the demand for visually appealing car interiors continues to rise, it is expected that the demand for plastics in automotive interiors will also witness a substantial increase over the forecast period.
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The market in North America is anticipated to experience moderate growth in the automotive interior materials market, driven by the steadily improving automotive industry in the region. Factors such as favorable economic conditions, increasing consumer spending, and technological advancements have contributed to the growth of the automotive sector.
Seats Application Segment is Expected to Dominate the Market Due to Enhance the Comfort
The seat application segment is projected to hold over 30% of the automotive interior materials market. Seats are crucial in mitigating driver discomfort during long drives or challenging driving conditions. Extensive research in psychology and physiology has yielded valuable insights into human perception, weight distribution, posture, and adjustability, which have directly influenced the materials used in automotive seats.
Regional markets in the Asia Pacific stand out as the largest market for automotive interior materials, primarily due to the rapid economic growth witnessed in the region. Factors such as increasing disposable income, urbanization, and the expanding middle-class population have contributed to the surging demand for automobiles in countries such as China, India, Japan, and South Korea.
A comprehensive analysis of the major players in the automotive interior materials market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Automotive Interior Materials Market
- Faurecia, a leading automotive technology company, recently announced a significant investment of USD 147 million to establish a new facility in Nuevo Leon, Mexico. The facility will serve Faurecia's Interiors and Seating Business Groups as a combined operation. Out of the total investment, USD 75 million will be allocated to the Interiors Business Group to enhance production capabilities. This funding will primarily be utilized to develop and install instrument panels and other interior modules. The remaining USD 72 million will be dedicated to Faurecia's Seating Business Group.
- Faurecia recently entered into a collaboration agreement with Veolia. This partnership fosters innovation in developing sustainable compounds for automotive interior modules. The two companies will work together to expedite the deployment of pioneering and environmentally-friendly solutions for European instrument panels, door panels, and centre consoles.
Key Questions Answered in Automotive Interior Materials Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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