Global Automotive Interior Materials Market size is projected to be valued $155 Billion by 2024; with a CAGR of 2.7% from 2017 to 2025. Automotive interior materials are resources that are utilized inside the cabin of an automotive, such as composites, plastics, and metals. A shift towards light colors in car interiors and light weight luxury automobiles are becoming increasingly popular. Lately there has been a shift in the industry towards renewable materials, recycled and sustainable production. There is a need to reduce the energy utilized during manufacture, the wastage produced and the energy and resources used to fabricate the parts.
Technological advancements coupled with high demand for compact, mid-sized cars fuel the growth of the global automotive interior materials market. Moreover, increasing penetration of electric vehicles and growing trend of customization to differentiate their offerings could also boost the growth of the market. However, high cost of raw materials such as leather and strict government regulations on the usage of leathers may hamper the growth of the market. Furthermore, safe, lightweight & customized interiors along with flexibility on price would provide growth opportunities. Introduction of green technology and nano technology in the materials used would provide opportunity in the upcoming years.
The global Automotive Interior Materials market is segmented based on the material, application and geography. By material type, it is further segmented into leather, thermoplastic polymers, fabric, vinyl and wood. Furthermore, application segment is bifurcated into heavy commercial vehicle, light commercial vehicle and passenger vehicle.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East, and Africa.
Key players in the market include Johnson Controls Inc., Sage Automotive Interiors Inc., Faurecia S.A., GST AutoLeather Inc., The Haartz Corporation, International Textile Group Inc., Dow Chemical Company, Toyota Boshoku Corporation, BASF S.E., D.K Leather Corporation, Auto Trim Inc., and Lear Corporation, among others.
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Scope of the Global Automotive Interior Materials Market