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Automotive Interior Materials

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Automotive Interior Materials Market report categorizes the global market by Material (Synthetic Leather, Pure Leather, Fabrics, and Thermoplastic Polymers), Vehicle Type, Component, and Geography - Insights, Size, Share, Opportunity Analysis, and I
Automotive Interior Materials Market - Insights, Size,
Share, and Industry Forecast till 2025
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.
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.
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The rising sales of premium passenger cars is expected to have a significant
impact on the automotive interior materials market. In China, despite a 10%
austerity tax on premium vehicles, automotive sales have been strong with
premium automobile manufacturers such as Porsche, Ferrari, McLaren, and
Maserati—all reported healthy growth in 2016. In the U.S., Mercedes Benz
alone sold over 340,000 vehicles, followed by Lexus and BMW at 331,000 and
313,000, respectively. This has augmented the market growth of automotive
interior materials market in the aforementioned countries.
Major Players in the Global Automotive Interior Materials Market
Global automotive interior materials market is extremely competitive and
consolidated with the presence of large players accounting for major shares.
Key players in the market include BASF S.E., Eagle Ottawa, Borgers A.G.,
Faurecia S.A, Adient Plc., Lear Corporation, Dow Chemical Company, and DK
Leather Corporation Berhad, among others.
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pallavi.reddy
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