The global automotive interior materials market was valued at US$ 61.69 billion in 2016, according to the report, Global Automotive Interior Materials Market by Material (Synthetic Leather, Pure Leather, Fabrics, and Thermoplastic Polymers), by Vehicle Type (Heavy and Light Commercial Vehicles), and by Component (Steering Covers, Seat Covers, Interior Roofing, and Others), published by Coherent Market Insights. The automotive interior materials market is expected to exhibit a CAGR of 7.51% during the forecast period (2017—2025)
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Key Trends and Analysis of the Automotive Interior Materials Market:
Synthetic or faux leather is composed of polyurethane or poly vinyl chloride, which is similar in appearance to pure leather. It is majorly used due to its cost effective properties, which allow automobile manufacturers to provide pure leather-like interiors at low cost. Pure leather due to its high cost is mostly deployed in premium cars only. For instance, automakers such as BMW, Audi, Rolls Royce, and Mercedes utilize pure leather in high-end vehicles. Furthermore, these fabrics are majorly used in economy passenger cars due to minimal cost of installation and procurement. Thermoplastic polymers provide superior aesthetic characteristics at a low cost. Although, the quality of interior is not as good as leather due to which it is mostly deployed in commercial vehicles and non-premium passenger cars.
Key Takeaways of the Market:
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