Market trend Automotive interior is big business!
The automotive industry is huge across the globe and with the rising demand for eco-friendly and sustainable elements within the vehicle, the automotive interiors market is eyeing for potential business opportunities in this growing sector.
Considered as one of the world’s largest economic sectors by revenue, the automobile industry has established a strong footprint across the globe. Car giants including Volkswagen, General Motors, Ford, Audi, and many more have time and again upgraded and introduced many stunning models in line with the changing times. In terms of design, the exterior as well as the interior of the automobiles undergo significant changes to make the automobile look more appealing to the buyers.
Elaborating on the automotive interiors market, a report published by Allied Market Research states that the global automotive interiors market is projected to reach 249,785.4 million dollars by 2025, registering a CAGR of 4.7 % from 2018 to 2025. Automotive interiors comprise of many segments such as fabrics, acoustical materials, shape-forming materials and foams, fasteners and adhesive systems, lighting, etc.
Each of these elements are carefully selected to enhance the look, meet customer satisfaction and at times the efficiency of the car. For instance, with regards to automotive interior leather, today people are not in favour of genuine leather owing to the rising concerns for the environment and animals. Hence, companies opt for synthetic leather, however, now the industry has come up with a better solution – ‘vegan’ leather.
At the recently held Shanghai Motor Show in China, the German carmaker Volkswagen displayed an electric SUV with 100 % vegan interiors. Comprising of apple leather i.e. Apple Skin, which is an alternative to leather made with apple juice waste, is an innovative sustainable hybrid material which integrates organic apple peels into the skin of the material, making it an eco-friendly alternative for those who care about the environment and animals.
Apart from this, Volvo also won an award for developing a vegan electric car, perfect for animal lovers and environmentally conscious car enthusiasts. The automobile interiors industry is consciously picking up market trends and working towards providing innovative and sustainable solutions for the global automobile market.
Automotive interiors expo
In line with the market scenario, industry leaders have also realised the numerous business opportunities that exist in the automotive interiors market and hence, it is not surprising that many exhibitions such as the automotive interiors expo are being held to help industry players seek these opportunities. The event also acts as a platform for industry players to showcase their latest innovations and solutions to the global automobile industry. The automotive interiors expo will be held from May 21–23, 2019 and is one of the parallel shows that are being held alongside Moulding Expo, an international trade fair for tool, pattern and mould making in Stuttgart, Germany.