Yanfeng Automotive Interiors, a leading automotive interiors producer, has agreed with Prisma Renewable Composites, a materials supplier in the same field, which includes the use of Prisma's lignin-based material to develop automotive interiors, to replace the use of petrochemicals with natural polymers.
The size of the Market was around USD 46.88 Billion by revenue, at the end of 2019. It is expected to grow at a CAGR of 3.56 % to reach close to USD 55.84 Billion in the forecast, as mentioned earlier period.
Automotive Interior Materials Market Drivers and Restraints:
The demand for a polymer mainly drives the market made interiors, which are lightweight and durable in the long run. Also, the rising demand for passenger cars helps in the growth of the Automotive Interior Materials market.
However, the costs associated may restrain the market in the forecast period. Also, the market concentration in regions like the Asia Pacific restrains the market expansion into regions like the Middle East and Africa.
Automotive Interior Materials Market Segmentation Analysis:
Based on the type of materials of the interior, the market is segmented into Synthetic Leather (PU & PVC), Genuine Leather, Polymers, Fabric. Among the mentioned material types, the polymers are the most popularly used, making this segment the largest in the market and is expected to have the fastest growth rate in the forecast period. The growth is mainly attributed to the increasing demand for lightweight yet strong and reliable material for the automobile interior parts. These parts mainly consist of dashboards, door panels, and center consoles.
By Vehicle Type
Based on the vehicle type, the market is divided into Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles. Of the mentioned types of vehicles, the passenger car segment is the largest and is expected to have the fastest growth rate in the forecast period. The growth is mainly attributed to the rising demand from emerging countries all across the globe for the automobile interiors as people are more oriented towards interior luxury nowadays.
Automotive Interior Materials Market Geographical Analysis:
By geography, the market is segmented as Europe, Asia Pacific, Latin America, North America, and Middle-East & Africa. The Asia Pacific region holds the largest share of the Automotive Interior Materials Market in the year of 2018, in terms of value and volume. The regional advantages in this region, like the ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region's position in the market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional market. These reasons make this region the fastest growing regional market in the proposed forecast period.
North America is next in the lead of the Automotive Interior Materials Market by both value and volume, as of 2018. The situation of many key market players in this region with well-established infrastructure is the main reason for its market position. This region is only in the second position in the market in terms of market growth, following the Asia Pacific.
Europe is next in the lead of the market in the year 2018. The presence of a considerable customer base in and around this region is helping in the growth of the Automotive Interior Materials Market in this region. This region is only the third fastest-growing region in the market in the projected forecast period.
On the other hand, the Middle East & Africa and Latin America regions, being in the slow-developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.
Automotive Interior Materials Market Key Market Players:
By the end of 2018 Lear Corporation (US), Faurecia S.A. (France), Adient plc (Ireland), Toyoda Gosei Co., Ltd. (Japan), Sage Automotive Interiors Inc. (US), Grupo Antolin (Spain), and Toyota Boshoku Corporation (Japan) are the leading shareholders of the market for Automotive Interior Materials Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Automotive Interior Materials Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Synthetic Leather
5.1.3 Genuine Leather
5.1.6 Y-o-Y Growth Analysis, By Type
5.1.7 Market Attractiveness Analysis, By Type
5.1.8 Market Share Analysis, By Type
5.2 Vehicle Type
5.2.2 Passenger Vehicles
5.2.3 Light Commercial Vehicles
5.2.4 Heavy Commercial Vehicles
5.2.5 Y-o-Y Growth Analysis, By Vehicle Type
5.2.6 Market Attractiveness Analysis, By Vehicle Type
5.2.7 Market Share Analysis, By Vehicle Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Type
22.214.171.124 By Vehicle Type
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Vehicle Type
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Type
22.214.171.124 By Vehicle Type
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Lear Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Sage Automotive Interiors Inc.
8.3 Adient plc
8.4 Toyoda Gosei Co., Ltd.
8.5 Toyota Boshoku Corporation
8.6 Grupo Antolin
8.7 Faurecia S.A.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures