New York, US, Feb. 20, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Interior Material Market Research Report: Information By Type, By Vehicle Type - Forecast till 2030”, The global automotive interior material market will touch USD 149.6 billion at a 4.50% CAGR by 2030.
Automotive Interior Material Market Analysis
Because they play a crucial part in the tanning process, tanneries generate the majority of wasted byproducts in the leather sector. This technique makes use of metals like zirconium sulphates, potassium and aluminium sutates, and chromium and aluminium chlorides. Because of this, producers have turned to green chemistry to produce safer, easier-to-dispose-of chemicals. Notable techniques comprise tanning skins especially with glutaraldehyde in presence of synthetic d-AA, such as d-alanine or d-lysine, which produces exceptionally stable leather as a result of the amino acids' bridging carboxylic and amine group. The wastewater created in the technique described here is perfectly safe for the treatment plants both to process & dispose of because no harmful tanning agents are utilized. Thus the use of green technology in auto leather manufacturing will boost market growth over the forecast period.
Key Players
Eminent industry players profiled in the global automotive interior material market report includes,
- NTF Private Limited (India)
- Sage Automotive Interior Materials Inc. (US)
- BASF SE (Germany)
- Faurecia S.A. (France)
- Toyoda Gosei Co. Ltd (Japan)
- Lear Corporation (US)
- Toyota Boshoku Corporation (Japan)
- Johnson Controls (US).
- Among others.
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Automotive Interior Material Market Opportunities
Increased Need for Comfort and Customization to offer Robust Opportunities
The increased need for personalization coupled with technological advances in the industry will offer robust opportunities for the market over the forecast period. As a result, companies increasingly provide customization choices to create modern interiors as per customer preferences. Additionally, the development of ecologically friendly automobile interior materials which will enhance comfort is motivated by consumers' growing health consciousness. These reasons have increased need for automotive interior materials.
Automotive Interior Material Market Restraints and Challenges
Uncertainty in Auto Industry to act as Market Restraint
The uncertainty in the auto industry, growing concern for waste disposal at the time of leather manufacturing, rising leather prices, and government restrictions on materials like PVC leather may act as market restraints over the forecast period.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | USD 149.6 Billion |
| CAGR during 2022-2030 | 4.50% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Rapidly developing electric vehicles market is likely to offer robust opportunities Demand for e-vehicles is on the rise owing to the fast depleting fossil resources and rising environmental concerns These cars are mostly made of plastic and other forms of light-weight materials to reduce recharge timings and offer better fuel efficiency |
| Key Market Drivers | Demand for premium automotive interiors Need for premium grade interiors having tactile experience and superior aesthetic appeal for non-premium cars from consumers is also increasing Rapid growth of passenger cars, changes in consumer lifestyle, and the need for lightweight vehicles |
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Automotive Interior Material Market Segmentation
The automotive interior material market is bifurcated based on type and vehicle type.
By type, the automotive interior material market is bifurcated into leather, thermoplastic polymer, fabric, synthetic leather, and others.
By vehicle type, passenger cars will dominate the market over the forecast period.
COVID-19 Analysis
Due to disturbances in the worldwide supply chain, the global pandemic has possessed an effect on the market for vehicle interior materials. The refinery and petrochemical, metal, chemical, and other types of power generation industries play a critical role in the running of the worldwide market. The implementation of stringent lockdowns in the country's important provinces had an impact on industrial activities because China is a vital market for exports & industrial production. The first quarter of 2020 saw a sharp fall in the booming demand for industrial equipment, primarily as a result of the COVID-19 outbreak, which was followed by the introduction of limitations and a lockdown. One of the world's top makers of autos is China. However, several interruptions in the raw material supply have reduced the nation's ability to produce automobile interior materials.
Automotive Interior Material Market Regional Analysis
APAC to Head Automotive Interior Material Market
The automobile interior materials market is dominated by Asia-Pacific, which is made up of nations like China, India, Japan, and the rest of the region. The need for automobile interior materials is stimulated by the region's expanding automotive sector and rising acceptance of electric vehicles. Additionally, the population increase and people’s rising disposable income in developing nations promote market expansion. Additionally, advancements in plastic & composite parts fuel the demand for automobile interior materials.
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Due to the rising levels of living among the populace in developing nations and the growing relocation of the manufacturing facilities of various manufacturers, the passenger vehicle segment dominates the worldwide automotive interior materials market. The vehicles used to transport passengers include passenger cars.
The need for elegant and convenient amenities has led to periodic changes in the technologies used in passenger vehicles. Manufacturers of passenger cars put a lot of effort into creating cars that provide passengers with safety, luxury, and a smooth ride. With regards to revenue growth, the Asia Pacific area is the most promising. This is mostly caused by accelerating urbanization and rising per capita incomes. Additionally, the region experienced a sharp increase in demand for driverless vehicles and electric vehicles, which will again fuel the expansion of auto interior materials ahead.
North America to Have Admirable Growth in Automotive Interior Material Market
Throughout the projection period, North America is anticipated to increase. Luxury interiors and more safety features are often desired by consumers. The nation's safety laws and regulations have forced automakers to add life-saving features like airbags & seatbelts to their automobiles. The market in this region is more advanced than in other regions as a result of growing demand for passenger cars, ongoing technological improvements, and the comparably low cost of luxury alternatives. The fact that private automobile use is so common in North America is good news for the market there because so many people rely on them for commuting. Due to strict fuel economy rules, demand is expected to soar. Growing consumer adoption of EVs and rising R&D spending by top automakers and interior manufacturers are two drivers anticipated to fuel market revenue development.
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Industry Updates
February 2023- SMS, a study on sustainable materials in automobile interior design, was presented by Callum. The team lead by Charlotte Jones & Ian Callum identified eggshells, walnuts, coffee pulp, red lentils, and rice as potential materials for a car interior in 2030 using a retromod Porsche 911 interior as the basis for the research.
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