Automotive interior materials comprise vinyl, fabrics, thermoplastic polymers, and a number of forms of leather. The rising usage and production of vehicles and the rising demand from consumers for affordable, easy to maintain, and affordable automotive interior materials have also fuelled the market for automotive interior materials.
There are a number of opportunities in the market for automotive interior materials. The top two opportunities in the market are:
- Introduction of Hybrid Cars: Thermoplastic polymers and leathers held the largest share in the market. Owing to the introduction of electric and hybrid models, the demand for automotive interior materials is on the rise. The market will benefit from the increased demand for comfort solutions such as nano filters, anti-glare coated mirrors, and dirt-repellent antimicrobial textiles. In addition, the top carmakers are also introducing climate controlled automotive seats within the hybrid vehicle models, for converting electricity to heat or for cooling the seats of vehicles.
- Ever-Changing Environment Welcomes Innovation: The automotive industry has dynamic environment and features the launch of the cutting-edge technologies every now and then. Hence, in order to sustain the competitiveness within such a dynamic environment, organizations operating in the market for automotive interior materials must align their strategies with the top trends. Owing to the increasing technology advancements in the market, the market is poised to grow exponentially in the coming years. A number of chief companies have also geared up for introducing light-weight thinner seats as compared to the seats used traditionally. These thinner seats are also comparatively more comfortable. Innovations like these will increase the space within the vehicles and will also lower the overall weight of the vehicle.
- Rising Trend of Introducing Light Weight Vehicles: A number of OEMs are on the lookout for producing lighter but more enhanced vehicles that promise fuel efficiency and enhanced performance. Thus, the utilization of lighter automotive interior materials is predicted to rise, particularly in the production of seating structures and dashboard. This, as per the market analysts, will present novel opportunities in the market in the coming years.
Faurecia SA (France), Grammer AG (Germany), Johnson Controls, Inc. (U.S.), BASF SE (Germany), and Lear Corporation (U.S.), among others are the major companies operating in the market.