global automotive interior materials market is anticipated to reach USD 132.82 billion by 2026 according to a new study published by Polaris Market Research.
Online PR News – 03-September-2018 – The global automotive interior materials market is anticipated to reach USD 132.82 billion by 2026 according to a new study published by Polaris Market Research. Global automotive interior material industry is expected to grow significantly over the forecast period from 2018 to 2026 owing to numerous advancements that is driven by a strong rebound in worldwide weight saving and aesthetic appearance primarily in Western Europe, North America and Asia Pacific are projected to augment demand for light weight interior material. Demand from passenger car segment will also grow at a higher pace in comparison to its counterparts that will benefit from an improved weight shaving and aesthetic appeal.
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Automotive interior materials are directly related with the vehicle manufacturing status. Thus, the markets directions are meticulously reliant on production and demand of vehicles. Moreover, the automotive interior materials market is also governed by government regulations and rules, exclusively for the genuine leather industry; availability and pricing of automotive interior materials. Rise in disposable income has also led towards the rise in demand for vehicle in emerging countries such as Brazil, China and India are supporting the demand for automotive interior materials. Intramural substitution for several materials is expected to take place in the automotive interior materials market. For example, synthetic PU, fabrics or PVC leather are generally used as a substitute for genuine leather material. Increasing emphasis on interior compartments of a vehicle and taken on priority by OEMs as well as customers.
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Some of leading industry participants include Fauracia SA, Lear Corporation, Toyota Boshoku Corporatio, Borgers SE & Co, DK Leather Corporation Berhad, Johnson Controls, Grupo Antolin, Takata Corporation, Yanfeng Automotive Interiors, Magna International, Hyundai Mobis Co and Calsonic Kensei Corporation among others.
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