The global automotive interior materials market is anticipated to reach US$132.82bn by 2026, according to a new study published by Polaris Market Research. Global automotive interior material industry is expected to grow significantly over the forecast period from 2018 to 2026 owing to numerous advancements in weight-saving and aesthetic appearance.
Asia-Pacific, as the largest manufacturer of automotive vehicle special passenger cars, is expected to hold the lion’s share of the automotive interior materials market. Europe is the next-largest sharehold in the automotive interior material market, especially Western Europe. North America, with its slow growth rate in vehicle production, is expected to show a neutral growth rate in the automotive interior material market.
The rise in disposable income has also led toward the rise in demand for vehicles in emerging countries such as Brazil, China and India, and this is supporting the demand for automotive interior materials. Intramural substitution for several materials is expected to take place in the automotive interior materials market. For example, synthetic PU, fabrics or PVC leather are generally used as a substitute for genuine leather material.