The automotive interior materials market is expected to be worth $80.2 billion, globally, by 2030 at a CAGR of 3.9%, according to Allied Market Research

The focus on reducing the overall weight of automobiles to optimize fuel efficiency and increasing consumption of plastics in automotive production have driven the growth of the global automotive interior materials market.

PORTLAND, Ore, May 17, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, “Automotive Interior Materials Market By Type (Plastics, Metals, Fabrics, Leather, Composites, Others), By Vehicle Type (PV, LCV, HCV), By Application (Dashboard, Door Panel, Seats, Carpets Flooring, Others): Global Opportunity Industry Analysis and Forecast, 2020-2030″. According to the report, the global automotive interior materials industry was considered $55.0 billion in 2020, and is expected to collect $80.2 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.

Drivers, constraints and opportunities

The focus on reducing the overall weight of automobiles to optimize fuel efficiency and increasing consumption of plastics in automotive production have driven the growth of the global automotive interior materials market. However, high commodity price volatility is holding back market growth. On the contrary, the massive adoption of green technologies to produce automotive leather would open up new opportunities in the future.

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Covid-19 scenario:

  • The Covid-19 pandemic has severely affected the automotive sector’s supply chain. Governments around the world have imposed strict restrictions on the transport and cross-border import-export of non-essential goods.
  • The closure of manufacturing plants in major industries such as the automotive industry has negatively affected the international trade in automotive interior materials.
  • However, as vaccination programs have gained momentum and the government has declared an easing of lockdown standards, the market is expected to get back on track.

The composites segment dominates the market

By type, the composites segment held the largest share in 2020, accounting for more than a third of the global automotive interior materials market. Additionally, the segment is estimated to register the highest CAGR of 4.8% during the forecast period, due to the fact that composites are used to make vehicles lighter, safer and more fuel efficient. . The report includes analysis of other segments such as plastics, metals, fabrics, leather, etc.

Get Detailed Analysis of COVID-19 Impact on Automotive Interior Materials Market @ https://www.alliedmarketresearch.com/request-for-customization/2037?reqfor=covid

Door Panel Segment to Show Highest CAGR Till 2030

By application, the door panel segment is expected to show the highest CAGR of 4.3% during the forecast period. Furthermore, the segment led the market in terms of revenue, contributing nearly two-fifths of the global automotive interior materials market. In effect, it serves as an interface between the interior of the car and the inner workings of the door. The report includes analysis of other segments including Dashboard, Seats, Floor Mats, etc.

Asia Pacific hold the largest share

By region, the market across Asia Pacific held the largest share in 2020, accounting for almost half of the market. Moreover, the region would register the highest CAGR of 4.3% from 2021 to 2030, due to the increase in urbanization and the increase in demand for automobiles in the region. The report includes an analysis of the global automotive interior materials market through North America, Europeand LAMEA.

Main market players

  • 3M
  • ARKEMA group
  • BASF SE
  • Covestro S.A.
  • Dow
  • Evonik Industries SA
  • Hexcel Corporation
  • Huntsman International LLC
  • Stahl Holdings B.V.
  • Wacker Chemie AG

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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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