Automotive interior materials landscape set to witness innovations focused on customization and sustainability, PMR report says
According to a recently released report on the Automotive Interior Materials Market, analyzing the global growth for 2014-2018 and a forecast for 2019-2029, the Automotive Interior Materials market is poised for innovations focused on customization and design. durability.
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The Automotive Interior Materials Market report predicts 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 materials market. Automotive Interior with regard to both market volume and value over forecast. period. The global automotive interior materials market market value was valued at $ 98.9 billion in 2018. Automotive interior materials market is expected to grow significantly at a CAGR of 6% during the forecast period.
“Green” automotive interior materials create a buzz
The automotive interior materials market is driven by the significant increase in demand for “green” materials to maintain environmental sustainability. Automotive interior materials hold a significant market share in developing countries of the world, such as India and China.
In addition, governments and authorities in several countries are promoting the use of lightweight and novel polymers in automotive interiors to reduce carbon emissions and reduce levels of energy consumption. All over the world, consumers prefer aesthetic and innovative designs in automotive interiors with greater comfort. These factors play a vital role in increasing the sales of automotive interior materials which is further expected to increase the growth of automotive interior materials market during the forecast period.
In addition, the growing demand for connected, autonomous and electric vehicles will encourage several manufacturers to create innovative interiors tailored to consumer demand. Market players offer advanced design capabilities and processing technologies in the manufacturing of automotive interior materials. This factor creates opportunities for the development of lightweight materials and new polymers and is expected to have a significant impact on the growth of the automotive interior materials market.
South Asia and China keep opportunistic promise
The global Automotive Interior Materials market report comprises the market volume as well as the value. According to the study, China is expected to represent the highest market share in the global automotive interior materials market during the forecast years. The growing demand for lightweight and novel polymers in automotive interiors and the growing demand for environmentally friendly and renewable materials are driving the growth of the market.
China is expected to hold a significant share in the East Asian region during the forecast period. The automotive interior materials market is expected to grow at a CAGR of around 6% in terms of value over the forecast years. The Automotive Interior Materials Market report studies the relevant markets and related facts in different regions such as North America, Latin America, Europe, East Asia, Asia South and the Pacific and the Middle East and Africa.
The report also measured all the considerable macroeconomic factors and forecasting factors while analyzing the automotive interior materials market in terms of size. The material types segment, fabrics and passenger car segments of the vehicle type are expected to generate additional revenue in the automotive interior materials market.
Global Automotive Interior Materials Market: Competitive Landscape
Some of the major automotive interior materials market players involved in this study are Sage Automotive Interiors Inc., Faurecia SA, Lear Corp., Johnson Controls International PLC, Toyota Boshoku Corp., Benecke-Kaliko AG, GST AutoLeather, Inc. , Seiren Co., DK Leather Corp., Yanfeng Automotive Trim Systems Co., Grupo-Antolin Irausa, SA and Mayur Uniquoters Ltd., among others.
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