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Your location: Home > Related Articles > The global automotive interior materials market value is expected to exceed $117.6 billion by 2025.

The global automotive interior materials market value is expected to exceed $117.6 billion by 2025.

Author:QINSUN Released in:2023-09 Click:9

The global market value of automotive interior materials is expected to exceed US$117.6 billion by 2025.

According to the Coherent Market Insights report (Seattle, Washington), the global market value of automobile interior materials was 61.69 US dollars. billion dollars in 2016, and it is expected to exceed $117.6 billion by 2025. This research report covers skin materials (synthetic leather, genuine leather, fabrics and thermoplastic polymer materials), vehicle types (vehicles heavy and light commercial vehicles) and parts (steering column covers, seat coverings, interior ceilings).

Global Automotive Interior Materials Market Survey. One of the main findings of this report is that synthetic leather and artificial leather are widely used in automobiles. Synthetic leather/artificial leather is made from polyurethane ou of polyvinyl chloride and is similar to leather but is widely used due to its lower cost.

Coherent Research highlighted that the growth in sales of premium products is expected to have a significant impact on the automotive interior materials market. In China, despite the strict tightening of the 10% tax on high-end cars, the car sales market remains strong, with high-end car makers such as Porsche, McLaren and Maserati all maintaining healthy growth in 2016. In the United States, Mercedes-Benz sold 340,000 units, followed by Lexus and BMW with 331,000 and 313,000 units, respectively.

The Asia-Pacific region is a lucrative market for automotive interior materials, driven mainly by the strong performance of the Indian industry with sales of 3 million in 2016 , and China with sales of 28.03 million. North America and Europe alsoally experienced strong vehicle sales in 2016, with the United States being the world\'s second-largest auto market (17.55 million), according to Coherent. The North American automotive interior materials market was worth US$11.12 billion in 2016, with an expected compound annual growth rate of 7.39%.

The U.S. government\'s decision to renegotiate the North American Free Trade Agreement threatens sales of U.S.-made cars to Mexico. According to the Mexican Institute of Statistics, the automobile industry accounted for 3.4% of Mexico\'s GDP in 2015. This figure is expected to decrease over the forecast period, if the NAFTA negotiations proceed as planned. Instead, it is expected to boost U.S. auto manufacturing.

Thermoplastic polymers offer superior aesthetic properties at lower cost. The quality of the interior cannot be compared to leather, it iswhy it is mainly used in commercial vehicles and non-luxury cars. The fabric is commonly used in economy cars due to its minimal installation and supply costs.