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Automotive interior
materials are crucial for structural integrity and safety of consumers along
with moderating vehicle weight. Global emphasis is being placed on greenhouse
gas reduction and fuel efficiency improvement in the transportation sector.
Many vehicle manufacturers and suppliers are investing significantly in R&D
of lightweight materials and their commercialization to achieve increased
market penetration by manufacturing components that maximize the utilization of
lightweight materials.
The global automotive
interior materials market is driven by the demand for low-emission materials,
especially from emerging countries, and stringent fuel economy standards.
However, rise in cost of genuine leather, owing to demandsupply gap, and
increase in regulations concerning synthetic leather are expected to restrain
the market growth in the coming years. Thus, introduction of
environment-friendly production processes is expected to offer lucrative opportunities
for market players.
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Composites is expected
to maintain its dominance in the global automotive interior materials market
during the forecast period. This segment held more than half of the market share
in 2015, in value terms, owing to increase in demand for lower emission
components in the automotive industry worldwide. In addition, the introduction
of new production processes and component features is expected to fuel the
growth of this segment during the forecast period.
Passenger vehicles
dominated the global market, with nearly three-fourth share, in terms of
volume, in 2015. Increase in demand for lighter and aesthetic automotive
designs across segments, such as LCV and HCV, is anticipated to drive the
market growth.
Key Findings and
Automotive Interior Materials Market
- In
terms of value, plastics segment is expected to grow at a CAGR of 6.7%
during the forecast period.
- Italy
is estimated to be the fastest growing country, globally, for 2016-2022,
growing at a CAGR of 12.6%, in terms of value.
- Passenger
vehicles approximately occupied more than three-fourths of the global
market share in 2015, in value terms.
- China
occupied approximately half of the Asia-Pacific automotive interior
materials market in 2015, and is expected to grow at a significant CAGR of
7.7%, in terms of value.
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In 2015, Asia-Pacific
and North America collectively accounted for nearly three-fourths of the
market, though Europe is expected to overtake North America during the forecast
period. High growth rates in Italy, France, Spain, and UK, is estimated to
drive this development.
The major companies
profiled in the report include BASF SE, Benecke-Kaliko AG, Borgers SE & Co.
KGaA, Dow Chemical Company, DK-Schweizer Co., Ltd., Eagle Ottawa LLC, E.I. du
Pont de Nemours & Co., Faurecia Automotive GmBh., Johnson Controls, Inc.,
Katzkin Leather, Inc., Lear Corporation, and Sage Automotive Interiors, Inc.
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