Automotive Interior Materials Market Competitive Outlook and Precise Outlook 2022-2030
The global automotive interior materials market size was valued at USD 102.19 billion with volumetric sale of 23270 kilotons in 2019, and is expected to reach USD 189.78 billion with booming sale of 35058 kilotons by 2030, with a respective CAGR of 5.7% and 3.7% from 2020-2030.
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Main companies: Benecke-Kaliko AG, BASF SE, Borgers SE & Co. KGaA, DK-Schweizer Co., Ltd., Dow Chemical Company, EI du Pont de Nemours & Co., Eagle Ottawa LLC, Johnson Controls, Inc., Faurecia Automotive GmBh., Katzkin Leather, Inc., Sage Automotive Interiors, Inc. and others.
Market dynamics and trends
The automotive interior materials market is witnessing lucrative opportunities owing to the existing market trends regarding fully flexible interiors, growing demand for premium vehicles with luxurious automotive interior, fully automatic component positioning, selective airbags, collision controls to improve driver safety as well as a wide range of customizable options open to customers.
In addition, factors such as the evolving concept of low-emission lightweight automotive interiors, stringent fuel economy regulations, increasing disposable incomes globally, increasing customer preferences for leather lining in vehicle interiors along with the inclination of manufacturers towards eco-friendly components to reduce their carbon footprint, is expected to drive the growth of the automotive interior materials market throughout the period of forecast.
However, growing trade war, rising auto import tariffs, lack of efficient recycling processes, and fluctuating commodity prices can create a demand supply gap that affects production and inhibits growth of the automotive interior materials market.
Additionally, innovative automobile designs, advanced technological developments adopted by market players, low cost and more durable products with increased efficiency and improved quality are paving the way for new opportunities in the global automotive materials market. automotive interior in the future.
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North America is expected to dominate the global automotive interior materials market, accounting for the highest market shares. This is attributed to factors such as the rapid increase in GDP and the high employment rate in this region. Additionally, the growing demand for electric vehicles is expected to drive the growth of the automotive interior materials market throughout the forecast period. Asia-Pacific is expected to show rapid growth with steady development in market share due to increasing demand for premium segment vehicles with luxurious automotive interiors. In addition, the rapid increase in per capita disposable income coupled with increased demand for durable and lightweight materials is also expected to support the growth of the automotive interior materials market.
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