Automotive Interior Materials Market Movements by Trend Analysis, Growth Status
The global automotive interior materials market size is anticipated to reach USD66.38 billion by 2026,on account of the increasing production of automobiles worldwide. Automotive interior is the most crucial feature of an automobile that catches the user’s attention. Therefore, it is extremely essential to ensure it meets all safety and maintenance demands of the consumer. A recently published report by Fortune Business Insights™ titled, “Automotive Interior Materials Market Size, Share & Industry Analysis, By Material (Plastics, Fabrics, Composites, Leather {Synthetic and Natural}, and Others), By Application (Dashboard, Seats, Airbags & Seat belts, Door panel & trims, Carpet and headliners, and Others), and Regional Forecast, 2019-2026” offers a detailed analysis of the market and its prime growth parameters. According to the report, the market stood at USD 51.09 billion in 2018 and will rise at a CAGR of 3.84% between 2019 to 2026.
Objectives of the Report
360-degree overview of the automotive interior materials market
Growth parameters such as drivers, restraints, challenges, opportunities that lies ahead of the market
Table of segmentation and competitive landscape in details
List of prominent players and their key strategies for maintaining the lion’s share in the market
Current automotive interior materials market trends
Regional Segmentation:
Asia Pacific will Dominate Market Owing to Increasing Adoption of Electric Vehicles
Geographically, the global automotive interior materials market is categorized into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, Asia Pacific is holding the dominant automotive interior materials market share on account of rapid expansion of the market in countries such as China, South Korea, Thailand, India, and Japan. Moreover, the rise in adoption and sales of e-vehicles will also help this region continue dominating the market in the coming years. The market in Europe ranks second attributed to the increasing popularity of the e-vehicle market. However, North America market generated a significant automotive interior materials market revenue of USD 7,626.7 million in 2018. Growth of this region is attributed to the advent of electric vehicles and steady improvement of the automotive industry in the region. Furthermore, the Latin America market will witness healthy growth owing to the expansion of automotive industry in nations such as Mexico and Brazil.
List of Notable Automobile Interior Materials Market Manufacturers include:
Freudenberg Performance Materials
SEIREN Co., Ltd.
Yanfeng Automotive Interiors
Sage Automotive Interiors
Other Vendors
KeyIndustry Developments of the Automotive Interior Materials Market Include:
January 2020 – Adient Plc., a company dealing with automotive interiors manufacturing sold 30% ownership stake in Yanfeng Global Automotive Interior Systems Co.Ltd to Yangfeng and entered into a joint venture until the end of December 2038.
October 2018 – The Japanese manufacturer for chemicals and materials variety successfully announced the acquiring of Sage Automotive Interiors, aUS-based company.
Information source:
https://www.fortunebusinessinsights.com/automotive-interior-materials-market-102540