Automotive Interior Materials Market
Growing awareness about waste disposal in the process of leather manufacturing required for the automotive interiors along with high prices of leather material are expected to restrain the growth of the market.
Growing awareness about waste disposal in the process of leather manufacturing required for the automotive interiors along with high prices of leather material are expected to restrain the growth of the market.
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<strong>Automotive</strong> <strong>Interior</strong> <strong>Materials</strong> <strong>Market</strong> –<br />
Global Industry Insights, Trends, Outlook, and Oppor<br />
tunity Analysis, 2016–2024<br />
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REPORT DESCRIPTION<br />
<strong>Automotive</strong> <strong>Interior</strong> <strong>Materials</strong> <strong>Market</strong>:<br />
<strong>Automotive</strong> interiors, including seats, door panels, cockpit modules, steering wheels, and dashboards offer comfort to the<br />
vehicle drivers and also enhance the aesthetic appeal of the vehicle. <strong>Automotive</strong> interiors of superior quality minimize<br />
engine vibrations and act as effective cabin insulators, thereby enhancing the consumer’s riding experience. Attributed to<br />
the growing consumer preference for premium automotive interior materials and the desire to enhance the aesthetic appeal<br />
of the interiors, the global automotive interior material market is expected to witness a significant growth during the<br />
forecast period.<br />
Growth of the automotive interior materials market is mainly driven by rapidly growing automotive industry and rising<br />
inclination of consumers towards aesthetic features of the automotive interiors and also improving driving experience.<br />
OEMs offer high customization to satiate the specific demands of consumers, in order to capitalize upon high consumer<br />
purchasing power. Consumers are increasingly inclined towards vehicles with features that were until now reserved for<br />
premium vehicles. These include premium seat covers, leather covered dashboards, and luxury carpeting, among others.<br />
This creates a highly conducive environment for growth of the market. Furthermore, increasing demand for lightweight<br />
vehicles due to its low carbon emission quality, is also driving the manufacturers to focus on smart textiles appropriate for<br />
the vehicles thereby, boosting the demand for automotive interior materials. In 2015, global vehicle production was<br />
pegged at over 90 million, which increased to around 95 million in 2016. This creates a highly conducive environment for<br />
growth of the automotive interior materials market.<br />
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REPORT DESCRIPTION<br />
Hydrophobic Coatings <strong>Market</strong>: <strong>Market</strong> Taxonomy:<br />
<strong>Automotive</strong> <strong>Interior</strong> <strong>Materials</strong>: <strong>Market</strong> Taxonomy<br />
By Material Type<br />
The global market can be segmented on the basis of type of material used which includes:<br />
●<br />
●<br />
●<br />
●<br />
●<br />
Synthetic leather<br />
Pure leather<br />
Fabrics<br />
Thermoplastic polymers<br />
By Vehicle Type<br />
On the basis of vehicle type, the global market can be segmented into:<br />
●<br />
●<br />
●<br />
Passenger vehicles<br />
Light commercial vehicles<br />
Heavy commercial vehicles<br />
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Global <strong>Automotive</strong> <strong>Interior</strong> <strong>Materials</strong> <strong>Market</strong> Outlook:Burgeoning growth<br />
of <strong>Automotive</strong> Sector in Asia Pacific to Fuel <strong>Market</strong> Growth<br />
Geographically, the global automotive interior materials market is segmented into North America, Europe, Asia Pacific,<br />
Middle East and Africa. Booming automotive industry along with rising middle class population with high spending<br />
power creates highly lucrative opportunities for players in the automotive interior materials industry. In Asia-Pacific<br />
region, government initiatives in terms of subsidies and tax concessions across various countries are attracting the<br />
automotive OEMs to build their manufacturing plants in the region. For instance, in July 2016, the South Korean Ministry<br />
of Trade, Industry and Energy announced plans to make electric car batteries run longer, build a network of charging<br />
stations and make electric car purchases and ownership more affordable. The government expects that the current and<br />
future policy programs will help increase the electric car market share in South Korea to 0.5% in 2017, up from 0.2% in<br />
2015, and to achieve 5.3% in 2020. Also, In April 2014, the Indian government announced a new plan to provide subsidies<br />
for hybrid and electric vehicles. The plan will have subsidies up to US$ 2,314 for cars and US$ 463 on two wheelers. This<br />
in turn positions Asia Pacific as a high growth market for automotive interior materials.<br />
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