Global Market Study on Automotive Interior Materials: Multifaceted Innovations - The Key to Meaningful Customer Experience


Automotive Interior Materials  Market
  • Report code : PMRREP3669 |
  • Industry : Automotive |
  • Published On : Jul-2019 |
  • Pages : 280 Pages |
  • Format :

Persistence Market Research (PMR) recently published a new research study on automotive interior materials market, wherein the market behavior has been deeply analyzed for the assessment period of 2019–2029. The report on automotive interior materials market offers a deep dive into the dynamics influencing the market growth. The research study focuses on key developments in the automotive interior materials landscape along with key trends shaping growth of automotive interior materials market. The report also sheds light on various macro- and micro-economic factors having broader impact on growth of automotive interior materials market.  

Apart from extensive focus on trends impacting automotive interior materials market, the research study also sheds light on an opportunity analysis for the market players of automotive interior materials to take into consideration. An incremental opportunity analysis offered in the automotive interior materials market report underlines the untapped spots of the global market space for the key players to aim at. The data and insights offered in the automotive interior materials market research study are capable of assisting readers with informed decision-making, which in turn will be helpful for them to thrive in the intensely competitive landscape.  

The last section of the report presents a detailed view of the market structure, wherein players of varying stature are analyzed and their product portfolios are assessed. The market structure section in the automotive interior materials market report puts light on chunk of global market share held by leading players, followed by market standing of mid-sized as well as emerging market players.

Automotive Interior Materials Market: Taxonomy

PMR’s new research study on the global automotive interior materials market pinpoints a detailed market segmentation, wherein the crucial segments of automotive interior materials market have been analyzed in detail. The segmentation of automotive interior materials market has been outlined on the basis of material type, vehicle type, and region.

Material Type

Vehicle Type

Region

Fabric

Passenger Cars

  • Compact
  • Sub-compact
  • Mid-size
  • Sedan
  • Luxury
  • Van

North America

Genuine Leather

LCV

Latin America

Synthetic Leather

HCV

Europe

Thermoplastic

Asia Pacific

Middle East & Africa

(MEA)

Automotive Interior Materials Market: Key Questions Answered in the Report

The research report on automotive interior materials market answers some of the most-commonly asked questions concerning current and historical performance of automotive interior materials market. Some of the key questions addressed by the automotive interior materials market report include-

  • How has the evolution of automotive industry influenced and still influencing global automotive interior materials market?
  • What are the latest innovations and developments in automotive interior materials market space that reflect adherence to dynamic customer needs?
  • What are the overarching trends influencing growth of global automotive interior materials market?
  • Which are the key bottlenecks that the key players of automotive interior materials market need to address?
  • Which are the prominent regions with umpteen opportunities for companies operating in the automotive interior materials market?
  • What are the differential strategies of leading players that help them retain their standing in the automotive interior materials market space?

Automotive Interior Materials Market: Research Methodology

The report on automotive interior materials market is a result of an extensive research methodology process, which is a multi-pronged approach comprising of multiple steps and phases. The research methodology used for compilation of automotive interior materials market report follows ‘best-in-class’ approach and serves as a medium of garnering riveting insights into global automotive interior materials market space. The overall research methodology comprises of two phases, primary and secondary.

The primary phase in the research methodology of automotive interior materials market is about interactions with industry experts, design of questionnaire, comprehensive interviews, and complete coverage of players across the market value chain. The key stakeholders interviewed in the primary phase include automotive interior materials manufacturers, technical advisors, engineers, marketing professionals, and sales forces. The secondary sources referred to for procuring key information into the automotive interior materials market include Industry Association Publications, annual reports, company presentations, publications, presentation of automotive interior materials manufacturers, government websites, and others

Personalized mobility is firming up as a key trend in the global automotive space, imparting newer dimensions to the way automobiles have been working. Customers are becoming highly demanding than ever when it comes to design and functionalities of their vehicles, and automakers, in response, are rethinking on innovating the types of automotive interior materials to be used in their offerings. High-tech automotive interior materials are gaining traction, recently, in the global automotive landscape, given that the performance quo of automobiles is an interplay between their exterior and interior functionalities. 

global automotive interior materials market strategies

The gradual inclination toward autonomous driving and e-mobility will also have a considerable impact on automotive interior materials. Functionalities will play an extremely profound role in case of autonomous driving and e-mobility formats, which foreshadows new beginnings for re-engineered automotive interior materials.

In addition, multiple innovations spawning up in the automotive interior materials industry serve as a testament demonstrating the promising future of the market. Sensing the emergence of new opportunities, Persistence Market Research (PMR) offers in-depth insights on growth of the automotive interior materials market in 2019 and beyond.

Automotive Interior Materials Market: The Journey So Far, and Beyond

With customer experience taking over other factors as a key competitive differentiator, automakers are adjusting their focus towards automotive interior materials to create meaningful customer experiences. It all started with a time when exteriors became generic, owing to regulatory norms, and interiors shone as a major point of differentiation. Over the past 10 years, spectacular innovations in the quality of automotive interior materials came into the fore, and some more promising innovations are on the cards as automobiles head closer towards ‘autonomy’.

As global automotive space will see ‘value-creation’ at its zenith of importance in future, the interiors of vehicles may offer opportunities for the automakers to generate significant sales. According to the PMR analysis, the global automotive interior materials market was valued at ~ US$ US$ 99 Bn in 2018, and this growth is likely to see a major upswing through 2029.

Automotive Interior Materials Market: Undercurrents Governing Growth

global automotive interior materials market

The Move Away from Metal Intensifies as ‘Lightweight’ becomes the Next Big Thing         

Ever since the inception of automotive manufacturing, glass and metal have remained two of the actively used materials in both vehicle exterior and interior designs. However, the ‘lightweight’ trend has turned the metal monopoly on its head and this is where viable alternatives came into play for effective automotive interior designing. Plastic lead the pack and became the most celebrated alternatives to metals, as it extended the scope for creativity as well as efficiency. Reinforced polypropylene also joined the fray by providing exceptional durability and significant cost savings, as a consequence of which metals started paling in the automotive interior materials space.

‘Ultra-thin’ and ‘High-quality’ Surface Finish

‘Ultra-thin’ and ‘high-quality’ are two of the buzzwords in the automotive interiors space, as customers seek exquisite surfaces offering excellent protection against damaging factors. Automakers are relying on polyurethane soft-feel coatings for giving high-quality feel and appearance to the vehicle interiors, along with advantage of high resistance to mechanical stress. Moreover, automakers are also making use of ultra-thin polycarbonate films for interiors, for the fact that polycarbonate films exhibit special properties- matte, textured, and glossy. 

Use of Ambient Lighting for Persuasive Communication

Automakers are making headway with enhanced ambient light for persuasive communication with customers- a subtle way of differentiating their offerings from the competitors. Ambient lighting has been emerging as a prominent tool for to fine-tune the interior appeal, which, in turn, would have major influence on buyers’ perception of the vehicle quality. Some of the leading automakers are restoring go translucent polypropylene (translucent PPs) to maximize the ambient light and render distinguishable interiors at reasonable costs.

How Are the Market Players Winning?

Companies operating in the automotive interior materials market are leading the way in bringing new innovations in sync with the changing market trends. Key players are broadening their portfolio to offer a comprehensive range of materials for automotive interiors, with properties that are balanced with and tailored to the evolving customer needs. For instance, Continental AG- a leading automaker- is all set to launch premium interior trims for cars, such as dashboard covers, door trims, seat covers, and others, by 2020. Post realization of the fact that premium interiors remain a crucial selection criterion for end users, Continental is ready to place bets on launch of these premium interior trims to further solidify its market standing.

Creative innovation is also emerging as a bright spot in the product development framework of companies. Key players are reducing the use of non-renewable resources via creative designs and are lowering the levels of energy consumption in the overall production processes. In addition, market players are also focusing on limiting and eliminating waste via persistent efficiency improvements. The market partakers are developing a comprehensive understanding of diverse cultural trends and design preferences across the globe, with an objective of manufacturing innovative materials for distinctive automotive interiors.

How Does the Market Structure Look Like?

The automotive interior materials market reflects a considerable degree of fragmentation, with regional and local players holding more than 70% of the overall market share. The leading players command for merely 27-32% of the revenue share, signaling the low entry barriers to this turbulent market space. The market players are pouring investments in the establishment of new production facilities across Asia Pacific and Latin America, in a bid to sow the seeds of their large-scale expansion across these promising economies.

Strategic collaborations have been, and will continue to be the key centerpiece of manufacturers’ growth strategies. For instance, in 2018, Faurecia S.A. - a leading supplier of automotive interior materials- entered into a strategic collaboration with HELLA for development of innovative surface- and dynamic-lighting solutions that would help in weaving personalized cockpit environments.

automotive interior materials market segmentation

 Analysts’ Perspective      

From a broader perspective, higher focus on automotive interiors as a key differentiator is increasingly evident, with automakers spending enormously on automotive interior materials to fine-tune aesthetics and improve performances. Authors of the report are of the opinion that future prospects for automotive interior materials seem highly promising, as consumer expectation of what the automotive interiors should look like is changing and this is where the use of high-quality automotive interior materials will come into play.

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The global automotive interior material market was projected US$ ~98.9 Bn in 2018, and is anticipated to increase at a CAGR of ~6% in the forecast period of 2019-2029, and reach ~192.1 Bn units by the end of 2029. Some of the standard features that boost the market growth are increasing preference for innovative designs in automotive interior, rising demand for electric, shared, and connected vehicles, and increasing use of bio-composites and lightweight polymers used in the production of automotive interiors.

According to our scope of research, the report considered automotive interior materials that are well fitted in the market, and those factors that are relevant or useful in automotive interior materials. The report also covers region-wise analysis and market growth under the scope of the study. The increasing demand for high quality and durable interior materials, and aesthetic and luxurious interiors in developed regions are important factors that are expected to create growth opportunities in the automotive interior material market during the forecast period.

Increasing Use of Lightweight Polymers and Natural Fibers as an Alternative to Alloys and Steels

Environmental sustainability is one of the major driving factors to increase the adoption of lightweight materials such as glass, plastics, rubbers, and special fibers particularly in the construction of automotive interiors to decrease CO2 emissions and lower energy consumption level across the globe, which is turning out to be a key trend in the market. Several market key players are concentrating in the manufacturing of materials that are renewable in nature. Following factors are likely to positively influence the growth of the automotive interior material market.

With rising concern for eco-friendly automotive interior leathers and materials that degrade when landfilled, market players are working towards striking a right balance between high manufacturing costs of "green" materials and rigorous governing frameworks that controls the production to uphold sustainability and effectiveness in such a competitive market landscape. With an increase of such driving factors, the surge in demand for automotive interior materials has also augmented and is likely to create substantial growth opportunities for the automotive interior material market.

Increasing Adoption of Materials, Colors, and Interior Customization in the Automotive Interior Material Market

Rising disposable income in developing regions along with the rise in per capita expenditure has augmented the demand for passenger cars. The passenger vehicle segment is projected to account for a substantial share in the market during the forecast period. This factor is likely to outpour the growth of the automotive interior material market throughout the forecast period.

Key Developments in the Automotive Interior Material Market

The global automotive interior material market is a distributed market and unorganized players hold substantial share in the market. Some of the well-known manufacturers in the automotive interior material market are Faurecia S.A, Johnson Controls, Lear Corporation, and Toyota Boshoku.

  • In 2018, Lear Corporation served General Motors and Ford, one of the prominent manufacturers of automotive and truck in the world. The company accounted for 18% and 16% sales from these two customers.
  • In July 2017, Faurecia S.A formed a joint venture with Dongfeng Motor Parts & Components Group Co., Ltd. in Wuhan, China, for its clean mobility business. This venture is expected to boost the company’s market share during the forecast period.
  • In October 2016, Johnson Controls successfully completed the separation of Adient, which is into designing and manufacturing of automotive seats, foam, and fabric trims.

Moreover, prominent interior material manufacturers are presenting new revolutions and trends in the market to increase the sales and mark their impression all around the world. These key developments are expected to surge the growth of the automotive interior material market during the forecast years.

Automotive Interior Material Market: Competitive Landscape

The automotive interior material market is exceedingly fragmented market and key market players hold significant share in the market. International players of the automotive interior material market have a strong presence across the globe, while regional players have moderate presence in the automotive interior material market.

Overview of Research Methodology

During the course of research in the report, we have conducted deep analysis to develop a unique research methodology.

Our research methodology revolves around:

  • Outlining key objectives relating to the automotive interior material market.
  • Clearly high the research scope and analysis across value chain, as well as collecting and analyzing data in depth through secondary and primary research.
  • Interpreting and analyzing collected Information.
  • The data is validated by triangulation method, in which secondary, primary, and PMR examination contribute to the final data.

Key Questions Answered in the Automotive Interior Material Market Report

  • What are the notable (2014-2018) trends and developments in the automotive interior material market?
  • Which type of materials are preferred for automotive interior materials?
  • What are the key influences that will anticipate the growth of the automotive interior material market?
  • What are the key success factors in the automotive interior material market?
  • What are some of the significant forecast factors projected to affect the growth of the automotive interior material market?
  • How competition among international market players in the automotive interior material market will affect the growth, and what are the significant market share of top automotive interior material manufacturers?
  • How are prominent key market players likely to perform during the forecast period?

Key Players Operating in Automotive Interior Material Market

  • Some of the key players involved in the manufacturing of automotive interior material included in this study are
    • Yanfeng Automotive Trim Systems Co., Ltd.
    • Faurecia S.A.
    • Lear Corporation
    • Johnson Controls International PLC
    • Seiren Co., Ltd.
    • Toyota Boshoku Corporation
    • Benecke-Kaliko AG
    • GST AutoLeather, Inc.
    • DK Leather Corporation
    • Grupo-Antolin Irausa, S.A.
    • Mayur Uniquoters, and others.

Company Profiles

  • Faurecia S.A.
  • Lear Corporation
  • Seiren Co., Ltd.
  • Yanfeng Automotive Trim Systems
  • Toyota Boshoku Corporation
  • Sage Automotive Interiors, Inc.
  • Benecke-Kaliko AG
  • GST AutoLeather, Inc.
  • DK Leather Corporation
  • Grupo-Antolin Irausa, S.A.
  • Mayur Uniquoters Ltd.
  • WOLLSDORF LEDER SCHMIDT & Co. G
  • Adient PLC
  • TS Tech Co., Ltd.
  • Magna International Inc.
  • Tachi-S Co., Ltd.
  • Aisin Seiki Co., Ltd.
  • Guelph Manufacturing Group
  • NHK Spring Co., Ltd. 

 

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