HOME Research Insight Market Leader - Automotive Interior Materials Market

Market Leader - Automotive Interior Materials Market

The market size for automotive interior materials is projected to reach USD 98.76 Billion by 2021, registering a CAGR of 11.8% between 2016 and 2021. The market growth is attributed to the growing demand for automotive interior materials for vehicle types such as passenger vehicles, light commercial vehicles, and heavy commercial vehicles.

Expansion was the key strategy adopted by the industry players to increase their growth in the automotive interior materials market. This strategy accounted for a share of 45.0%, between 2011 and 2016, of all the growth strategies adopted by the market players. Rising demand for automotive interior materials across various vehicle types is due to the improving choices in different materials and customization of the interior. New product launches and mergers & acquisitions accounted for a share of 18.0%, between 2011 and 2016. Besides new product developments and expansions, companies are investing in joint ventures with automotive interior materials manufacturing facilities in emerging regions across globe. Joint ventures accounted for a share of 16.0% of all the developments witnessed between 2011 and 2016. Companies are also focusing on agreements. The agreements strategy accounted for 3.0% of all the strategic developments in the market. North America was the most active region from 2011 to 2016, in terms of strategic initiatives.

Major manufacturers such as Johnson Controls (U.S.), Toyota Boshoku Corporation (Japan), Lear Corporation (U.S.), Toyoda Gosei Co., Ltd. (Japan), Faurecia S.A. (France), Grammer AG (Germany), Grupo Antolin-Irausa, S.A. (Spain), Borgers SE & CO. KGaA (Germany), DK Leather Corporation Berhad (Malaysia), and Sage Automotive Interiors Inc. (U.S.) are profiled in this report. These companies have adopted both organic and inorganic growth strategies.

Johnson Controls is the most active player in the automotive interior materials market. As part of its growth strategy, the company developed various automotive interior materials to cater to the market effectively. The company was also involved in expansions to expand its market presence in developing countries. The company has a joint venture with a global leader for supply of automotive interior materials. Johnson Controls operates its automotive seating business through Adient, an independent, publicly traded company with 75,000 employees globally to focus on strengthening its market leading position in seating business.

Another company that has established a strong foothold in the automotive interior materials market is Lear Corporation (U.S.). It focuses on investing in expansions, mergers & acquisitions, and new product launches to develop innovative products and new technologies. The company increased its leather finishing and marketing capability by introducing AventinoR premium leather and by acquiring Eagle Ottawa (U.S.). It is also focusing on the development of renewable automotive interior materials.

Related Reports:

Automotive Interior Materials Market by Type (Synthetic Leather, Leather, Thermoplastic Polymer, Fabric), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Region - Global Forecast to 2021

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