New Materials market report from Markets and Markets: "Automotive Interior Materials Market - Trends & Forecasts to 2019"

[USPRwire, Tue Oct 28 2014] Automotive Interior Materials Market by Type (Fabrics, Genuine Leathers, Artificial PU Leather, Artificial PVC Leather, Synthetic Leathers & Thermoplastic Polymers) and Region - Trends & Forecasts to 2019

The report on automotive interior materials captures its global market size by volume and value. The global automotive interior materials market is growing at a rapid pace in North America and Asia-Pacific. The demand for automotive interior materials is driven by the following factors:

* Increasing demand for automobiles in North America and Asia-Pacific is attributing to the growing demand for automotive interior materials. The demand for automobiles in North America for the last five years grew at a CAGR of more than 15.0%. The commercial vehicles had a major share in the North American automotive industry and grew at a higher CAGR compared to cars. The commercial vehicle manufacturers prefer to use fabrics in the commercial vehicles due to lower cost, easy maintenance, and higher durability. These factors contributed to the increased market for automotive interior fabrics in North America.
* Manufacturers are developing new fabrics and eco-friendly materials in order to comply with stringent regulations and meet increasing customer satisfaction. The market for genuine leather is witnessing a decline in demand due to the questionable processes and chemicals used for tanning processes in mature markets. Other than this, the market for artificial PVC leather is also witnessing a decline in demand following the ban on PVC in Europe and North America. On the other hand, the demand for artificial polyurethane leather is increasing at a rapid pace owing to its less environmental impact and higher acceptance in mature markets. The demand for fabrics such as non-woven, cotton, wool, and yarn is increasing in Asia-pacific.

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About the market:
The global market for automotive interior materials has grown significantly during the last few years and it is expected to grow at a rapid pace in the next five years, and is driven mainly by the growing consumption in North America and Asia-Pacific. Currently, Asia-Pacific is the largest market for automotive interior materials followed by Europe, North America, and RoW. North America is the fastest-growing automotive interior materials market across the world. The market in North America is expected to witness a CAGR of 14.9%, in terms of value, in the next five years. Asia-Pacific is the second fastest-growing market followed by Europe and RoW.

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