Automotive interior materials market
Automotive interior materials market overview
Allied Market Research analyzes the automotive interior materials market by type (plastics, metals, fabrics, leather, composites, others), by vehicle type (PV, LCV, HCV), and by application (dashboards, door panels, seats). We published an insightful report titled. , Floor Carpets, etc.): Global Opportunity Analysis and Industry Forecast, 2020-2030. The report highlights the anticipated growth trajectory of the global automotive interior materials market, projected to reach $80.2 billion by 2030. The market value was $55 billion in 2020 and is expected to exhibit a CAGR of 3.9% from 2021 to 2030.
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Key growth drivers
The rapid expansion of the automotive interior market is driven by several factors.
– Increasing use of plastics: The incorporation of plastics in automobile production is rapidly increasing, contributing to the overall market growth.
– Focus on weight reduction: There is increasing emphasis on reducing the overall weight of vehicles to improve fuel efficiency.
– Adoption of green technologies: The increasing adoption of sustainable methods, especially in the production of automotive leather, presents lucrative growth opportunities.
However, the market faces challenges such as fluctuations in raw material costs that may hinder growth.
Market segmentation insights:
– Type segment: The composite materials segment gained the largest market share in 2020, accounting for more than one-third of global revenue. It is predicted to maintain this lead until 2030, with a notable CAGR of 4.8%. Composite materials are favored for designing vehicles that are more fuel efficient, safer, and lighter. Other segments covered in the report include plastics, metals, textiles, and leather.
– Application Segment: Door panel segment is expected to show the fastest growth at a CAGR of 4.3% by 2030. It also holds the largest market share, accounting for almost two-fifths of global revenue. This growth can be attributed to its important role in connecting the door mechanism to the interior of the vehicle. The report also analyzes other applications such as floor carpets, seats, and dashboards.
Regional analysis:
Asia-Pacific currently dominates the market, accounting for nearly half of the overall revenue and is expected to continue to grow rapidly at a CAGR of 4.3% during the forecast period. This growth is being driven by increasing urbanization and increasing demand for automobiles in the region. This report further explores trends in LAMEA, Europe and North America.
Key market players:
This report identifies some of the key players in the automotive interior materials market.
– Wacker Chemie AG
– Staal Holdings BV
– Huntsman International LLC
– Hexcel Co., Ltd.
– Evonik Industries AG
– Dow
– Covestro AG
-BASF SE
– Arkema Group
-3M
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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unparalleled quality market research reports and business intelligence solutions to global corporations and small businesses. AMR has a focused perspective in providing business insights and consulting to help clients make strategic business decisions and achieve sustainable growth in their respective market areas. have.
Pawan Kumar, CEO of Allied Market Research, leads the organization towards delivering high quality data and insights. We have professional corporate relationships with various companies, which helps us generate accurate research data tables and unearth market data that helps in confirming the highest accuracy of market forecasts. All data presented in the reports we publish are extracted through primary interviews with top executives from leading companies in the sector. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with knowledgeable industry experts and analysts.
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