Asia Pacific Automotive Interior Materials Market Size 2020: Comprehensive Research Including Top Companies, Latest Trends and Forecast by 2026

The Asia Pacific automotive interior materials market size was valued at USD 27.13 billion in 2019 and is expected to grow at around 5% CAGR from 2020 to 2026. The APAC region is expected to register a high demand across the automotive interior materials industry. Asia Pacific automotive market is led by countries including China, Japan and India.

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Although the automotive market  faced government restrictions in 2020, due to the Covid-19 pandemic and its unforeseeable impact, it is estimated to capture $108.3 billion by 2022 and hold above 45% revenue share by 2026 with the development of the regional automotive industry.

The driving factors for high growth in this market are the demand for lightweight and environment-friendly vehicles, and the growing demand  for maximum comfort and premium aesthetic interior design.  Furthermore, light weighting is also a key ingredient to improve fuel savings.

The growing demand for components such as automotive seats, door panels, headliners, cockpit modules and other components as well as adornments which enhance the comfort, premium aesthetics and overall vehicle strength is pushing APAC automotive interior materials market forecast. Vehicle interior is one of the  crucial factors that influence buying decision of the customers. It also forms buyer’s perception in the quality criterion and durability of the vehicle.

Key players in the industry are focusing on product expansion to increase their revenue share in the automotive interior materials market. For example, Faurecia interior System bought in active wellness seat- which can determine the stress levels and/or drowsiness of the driver by analysis of their dynamically installed sensors that detect the heartbeat & breathing pattern of the driver. The system is designed to take countermeasures to avoid any issues. Seats application segment is estimated to form about 30% of the automotive market share till the year 2026.

By material, composite fabrics, plastics, leather, and carbon fibers are some of the materials that are in high demand in the industry and are extensively used for manufacturing various components of the vehicle. Plastics captured over 70% of the automotive interior materials industry revenue share in material segment. It is expected to reach more than USD 20 billion by 2026. Thermoplastics are not only recyclable material but also hold a promising  growth in the industry due to its additional benefit of moisture resistance. It is used in the manufacturing of superior interior structures in vehicles.

By vehicle, PCV segment is likely to demonstrate steady growth in developing countries such as India, Indonesia, and South Korea. In terms of volume, passenger cars hold around 80% of Asia Pacific automotive interior materials market share. This can be linked with the  growth in the middle class sector’s spending capacity as well as the need for energy efficient and environment-friendly cars, with reduced carbon emissions as per the government norms.

India is expected to account for a major share in Asia Pacific automotive interior materials market through 2026. This is due to the regional development, economic growth, and the need for technological advancement and luxury especially amongst millennials in the region. With regional development, the small-scale manufacturers of raw material and composite material will benefit with the growing need for these materials, with increasing government regulation for environment safety as well as the need for luxurious and attractive vehicles rises.

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Some major automotive interior materials manufacturers in Asia Pacific include BASF SE, Hexcel Corporation, SABIC, Continental AG, and Covestro.

Table of Contents (ToC) of the report:

Chapter 1   Methodology And Scope

1.1    Research Methodology

1.2    List of data sources

1.2.1    Primary

1.2.2    Secondary

Chapter 2   Market Snapshot

2.1    Asia Pacific automotive interior materials market snapshot

Chapter 3   Asia Pacific Automotive Interior Materials Market Trends

3.1    Industry coverage

3.2    Industry size and forecast, 2016 – 2026

3.3    Value chain analysis

3.3.1    Company product snapshot

3.4    Innovation landscape

3.5    Regulatory norms & directives

3.6    Drivers & restraints

3.6.1    Market drivers

3.6.2    Market restraints

3.7    COVID-19 impact on industry

3.7.1    Optimistic

3.7.2    Realistic

3.7.3    Pessimistic

3.8    Industry analysis – Porter’s

3.9    Product growth mapping

3.10    Competitive benchmarking, 2019

3.10.1    Strategy dashboard

3.11    PESTLE analysis

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