The demand for premium automotive interiors is increasing worldwide and this is driving growth of automotive interior materials market. The demand for premium grade interiors with superior aesthetic appeal and tactile experience, even for non-premium cars from consumers is increasing. Therefore, counterfeit products, mostly of low-quality, made from plastic are introduced in the market by certain local players to meet the rising demand. Volvo develops new designs that exhibit a technological edge over its competitors at its R&D center in Shanghai, China.

The global automotive interior materials market was valued at US$ 61.69 billion in 2016, and is slated to reach US$ 117.59 billion by 2025. The market is expected to exhibit a CAGR of 7.51% over the forecast period.

Market Dynamics

Asia Pacific is the largest market for automotive interior materials, buoyed by high sales of passenger vehicles in the region. China is the world’s largest automaker and is a host to numerous domestic and international automotive interior materials companies. The rapid growth in middle-class population, as well as first-time buyers in countries such as India and China that demand mid-size vehicles set terms for the automakers to provide lucrative pricing strategies and improve credit evaluation. In order to do so and keep up to the technological advancements, players in Asia Pacific extensively use aesthetically appealing automotive interiors that are of low prices that help them serve high performance and economically viable cars and other automobiles to a huge price-sensitive customer base.

Detailed Segmentation:

Global Automotive Interior Materials Market, By Material:

Synthetic Leather

Pure Leather

Fabrics

Thermoplastic Polymers

Global Automotive Interior Materials Market, By Vehicle Type:

Heavy Commercial Vehicles

Light Commercial Vehicles

Passenger Cars

Global Automotive Interior Materials Market, By Component:

Steering Covers

Seat Covers

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Major Keyplayers: BASF SE, Dow Chemical Company, Borgers A.G., Faurecia S.A., Adient Plc., Lear Corporation, Eagle Ottawa, and D.K. Leather Corporation Berhad

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