Automotive Interior Material Market share research by applications and regions for 2017-2024

Global automotive interior material market can be segmented based on application such as dashboard, airbags, upholstery, seat belts, headliners and floor carpets. Innovations in upholstery with increasing customization according to consumer demand will augment the business growth.

Improving trend towards weight reduction with use of alternative product in vehicle coupled with managing the weight distribution will boost the industry demand. Technological advancement in material supporting in minimizing overall fatigue and engine vibrations is expected to propel the automotive interior material market growth.

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Appearance, stability to the UV rays, chemicals for durable time, cost of production and post treatment on the raw materials and strength offering stiffness during crash coupled with durability are among few of the major factors influencing the material choice of the product. Higher penetration of product with low emission plastics, metal replacement, weight reduction of overall vehicle and easy processing of the product is expected to fuel the automotive interior material business growth.

Automotive interior materials market can be segmented based on vehicles as passenger cars, LCV, HCV and buses and trucks. Passenger cars is expected to dominate the overall segment owing substantial number of production contributing over 75% of overall market share in 2016. Passenger cars production was over 72 million units in 2016 with growth of over 5% from 2015.

Europe led by Germany, Italy, UK, France is expected to witness strong growth during forecast time. Recovering vehicle industry is expected to further support the automotive interior material business demand. Moreover, stringent regulations regarding reducing overall vehicle weight of the vehicle owing to usage of light weight product is expected to boost the product demand.

Latin America, is expected to witness robust growth during the forecast period. Mexico is among the major contributor for vehicle production and vehicle components in the region. Free trade agreement supplying to the assembly plants located in the U.S. is expected to boost the industry growth. In addition to this, availability of the resources such as competitive labor cost and growing investment in the vehicle and auto parts will further fuel the automotive interior materials market demand.

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Some of the major players contributing the market share are Lear Corporation, Faurecia S.A., Johnson Controls, Grupo Antolin-Irausa, Seiren Co., Yanfeng Automotive Trim Systems Co., Toyota Boshoku Corporation, Benecke-Kaliko AG, Sage Automotive Interiors Inc., D.K Leather Corporation and GST AutoLeather Inc.

Industry players are focusing on business expansion particularly in developing countries with reducing the logistics expenditure owing to supply to assembly plants and stimulating the industry growth. Moreover, focus primarily on factors such as improving the cost benefits, boosting overall aesthetics of the vehicle is expected to further support the automotive interior material market growth.

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