(EMAILWIRE.COM, December 14, 2022 ) The global Automotive Interior Materials Market was USD 48.1 billion in 2021 and is projected to reach USD 54.8 billion by 2026, at a CAGR of 2.6% between 2021 and 2026. Globally, the Automotive Interior Materials Market has a higher penetration in Asia Pacific and Middle East & Africa. This growth is attributed to the rising economic condition and urbanization in Asia Pacific and Middle East & African countries. Optimizing fuel efficiency by reducing the overall vehicle weight, increased globalization, and the high demand for new technologies and customization are driving the automotive interior materials market. However, improper disposal of effluents formed during the tanning process of converting raw animal hide to genuine leather is restraining the market growth.
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The wastewater from the beam house processes, such as soaking, liming, and deliming, is highly alkaline, containing decomposing organic matter, hair, lime, sulfide, and organic nitrogen with high biochemical oxygen demand (BOD) and chemical oxygen demand (COD). This factor is negatively affecting the growth of the market. The challenge of this market is the profitability and sustainability within the regulatory framework. The automotive industry is currently under constant pressure to adapt to new changes due to technological advancements and end-user preferences.
Vehicle interiors are key areas that have witnessed a rapid change due to various factors such as the consumer demand for safety and comfort, preference for fuel efficiency, and increasing competition within the industry. OEMs strive to provide vehicles with good interior styling, comfort, and safety. They also focus on reducing the weight of the vehicle by using lightweight, cost-effective, and highly durable materials in the designing of components.
Based on type, the automotive interior materials market is segmented into polymer, genuine leather, fabric, synthetic leather and others which include rubber, wood and metals. Automotive interior materials are used in seats, headliners, floor mats, interior carpets, convertible tops, vinyl roof covers, dashboards, and door panels and trims of an automobile. They are processed and supplied to OEMs for the manufacture of automotive components. Polymers used in the automotive interior is generally thermoplastics which are multiphase compositions in which one phase consists of a material that is hard at room temperature and fluid when heated, and the other phase consists of an elastomeric material that is soft and rubberlike at room temperature.
Based on vehicle type, the automotive interior materials market is segmented as passenger vehicles, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and buses & coaches. The consumption of interior materials by these vehicle types depends on the overall production of these vehicles, globally. Automotive interior materials are used to improve the aesthetics and comfort of the automotive seating area. Effective use of these materials directly influences the vehicle’s sales, costs, and customers driving comfort.
The demand for automotive interior materials for different vehicle types is estimated based on the current understanding of the market dynamics and regulatory environment of the global automotive industry. Passenger vehicles require high-quality interiors as compared to LCVs and HCVs due to end-user demand. The amount of money spent on quality, comfort, and styling of automotive interiors is higher in the case of personal use than commercial use of vehicles. Also, the increased disposable income in developing countries is driving the growth of the automotive interior market for passenger vehicles.
Based on application, the automotive interior materials market has been segmented into dashboard, door panel, seats, floor carpets, and others which include headliners, sun visor, interior lighting, rear seat entertainment. Introduction of lightweight yet durable interior materials and growing trend of luxurious features, such as powered and ventilated seats having massage function and ambient lighting in interiors, have created growth opportunities for various automotive interior materials manufacturers in the automotive industry.
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Browse 297 Market Data Tables And 58 Figures Spread Through 304 Pages And In-Depth TOC On “Automotive Interior Materials Market
On the basis of region, Asia Pacific was the largest market for automotive interior materials, followed by Europe and North America in 2020. Asia Pacific is the largest market owing to rapid economic growth in the region. Large population, increasing demand in China, India, Japan, and other Southeast Asian countries, and the growing automotive industry fuels the growth of the automotive interior materials market in the region. The market in North America is projected to grow at a moderate rate during the forecast period because of the shift of manufacturing bases to the developing countries. However, the rising demand for luxury vehicles in the region will drive the need for automotive interior materials.
The key market players profiled in the report include Lear Corporation (US), Asahi Kasei Corporation (Japan), Toyota Boshoku Corporation (Japan), Faurecia (France), Toyoda Gosei Co., Ltd. (Japan), Grupo Antolin (Spain), Yanfeng Automotive Interiors (YFAI) (China), Seiren Co. Ltd. (Japan), DK Leather Corporation Berhad (Malaysia) and DRAXLMAIER Group (Germany). They have adopted strategies such as and new product launch, acquisition, and collaboration in order to gain an advantage over their competitors.
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