This industry research report presents segmentation of the market based on material (plastics, fabrics, leather, glass, steel, and others), and by geography (APAC, Americas, EMEA, and ROW). It also presents the vendor landscape and a detailed analysis of the top six vendors in the global automotive interior materials market.
Technavio’s market research analysts estimate the global automotive interiors material market to grow at a CAGR of around 5% between 2015 and 2019. There is increased demand for lightweight automotive interior materials, as they make vehicles light, enabling it to attain speed and decrease fuel consumption. APAC is the largest market for automotive interior materials, covering more than 28% of the total market. Besides the growing automotive industry, lower transportation and labor costs, and availability of raw materials are the key growth factors for the automotive interior materials market in this region.
The new market research report from Technavio provides a breakdown and analysis of the automotive interiors material segments by technology.
“Rise in consumer preferences towards eco-friendly materials has brought a considerable shift in the materials used in vehicle interiors. Various manufacturers are developing eco-friendly materials such as bio-plastics, made of castor oil and fungi-based foam or banana fibers, for interior design. Also, natural fibers such as nonwovens are increasingly being used for vehicle seats because of their excellent durability and moldability,” says Sriram Mohan, Lead Analyst, Chemicals & materials, Technavio Research.
Plastics accounts for the major market share because of the increased use of plastics in dashboards, instrument panel fixtures, and hand support systems. Light weight quality of plastics make it a preferable material for vehicle interiors. Moreover, plastics are cheaper to produce and paint, and are profitable for automobile manufacturers. This segment is expected to generate revenue worth US $32 billion by 2019.
Market share of the automotive interiors materials
Source: Technavio Research
The key vendors in the global automotive interiors material market include Borgers, DK Schweizer, Faurecia, Lear Corporation and Sage. Intense competition prevails in this market as only few vendors offer different products according to their specialties. To survive in this competitive marketplace, vendors are trying to differentiate their offerings through unique value propositions.
A more detailed analysis is available in the Technavio report, Global Automotive Interiors Material Market: Forecast and Trends 2015-2019.
We can customize reports by other regions and specific segments upon request.
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