HOME Research Insight Expansions and acquisitions are the key strategies adopted by the leading players to strengthen their positions in the Automotive Interior Materials Market



Expansions and acquisitions are the key strategies adopted by the leading players to strengthen their positions in the Automotive Interior Materials Market


The market size of automotive interior materials is estimated at USD 46.63 billion in 2018 and is projected to reach USD 55.41 billion by 2023, at a CAGR of 3.5% between 2018 and 2023. The APAC region, followed by the North America and European regions witnessed the maximum number of strategic developments undertaken by various players between 2014 and 2018. Growing demand for automotive interior materials is attributed to the growth of manufacture of various types of vehicles, such as passenger vehicles, light commercial vehicles, and heavy commercial vehicles.

The key players operating in the automotive interior materials market are Lear Corporation (US), Toyota Boshoku Corporation (Japan), Toyoda Gosei Co., Ltd. (Japan), Adient plc (Ireland), Faurecia S.A. (France), Grupo Antolin (Spain), and Sage Automotive Interiors Inc. (US). These companies have adopted both, organic and inorganic growth strategies.

Lear Corporation is the most active player in the automotive interior materials market. It focuses on investing in expansions, mergers & acquisitions, and new product developments to develop innovative products and new technologies. The company also increased its leather finishing and marketing capability by introducing AventinoR premium leather and by acquiring Eagle Ottawa (US). Further, in 2017, the company acquired Grupo Antolin’s (Spain) automotive seating business. Grupo Antolin’s seating business is well positioned among the leading European automakers, such as Peugeot Citroen, Daimler, Renault, Nissan, and Volkswagen. Lear Corporation is also focusing on the development of renewable automotive interior materials.

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Adient plc (Ireland) is another major player in the automotive interior materials market. Adient plc separated itself from Johnson Controls (US) in October 2016. As part of its strategy, the company has invested in various expansion strategies. In December 2017, the company expanded its seat manufacturing facility in Mór, Hungary with a 12,000-m˛ production hall. Adient also announced the opening of its new facility in Pune, India. This new state-of-the-art automotive seating, prototyping, and testing facility is scheduled to open in late 2018. To further expand its foothold in APAC, the company entered into a joint venture with Arvind Limited (India) forming Adient Arvind Automotive Fabrics. The fabric manufacturing facility will be located in Ahmedabad, India and will serve Indian as well as global customers.

This report provides a detailed analysis of the automotive interior materials market and segments the same based on type, vehicle type, and region. Based on type, the market has been segmented into polymers, genuine leather, fabrics, synthetic leather, and others. Based on vehicle type, the market has been segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Based on region, the market has been segmented into North America, APAC, Western Europe, Central & Eastern Europe, South America, and the Middle East & Africa.

Related Reports:

Automotive Interior Materials Market by Type (Synthetic Leather (PU & PVC), Genuine Leather, Polymers, Fabric), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Region - Global Forecast to 2023

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