Malaysia Automotive Interior Materials Market By Type (leather, thermoplastic polymers, fabric, plastic, metal, composite and others), By Vehicle Type (passenger vehicles, light commercial vehicles (LCV), heavy weight commercial vehicles (HCV) and others), By Application (seating, dashboards, airbag & seat belts, door panel, carpet & headliner, interior trim, IVI system, noise cancellation and others) By Country (Malaysia) - Industry Trends and Forecast to 2026
Automotive Interior materials are a form of modification in the automotive industry which mainly focusses towards the needs of consumer’s retention towards the purchase of different kinds of vehicles. The growing demand for individual vehicles in the developing countries is leading to a rapid growth in demand for interior materials of automotive. Accessibility to light-weight materials from different automotive departments and local governments acts as a major factor for the growing automotive interior materials market in Malaysia.
The manufacturing of different auto parts and accessories from Malaysia to the international worldwide countries is mainly for the passenger vehicles since development in interior design of passenger vehicles is more in requirement when compared to luxury cars as they already are manufactured with high end technology implementation.
Usage of lightweight materials in automotive interiors along with easy government regulations is leading to growth in demand for automotive interior materials market in Malaysia.
Malaysia automotive interior materials market is expected to register a steady CAGR in the forecast period of 2019 -2026.
Segmentation: Malaysia Automotive Interior Materials Market
Malaysia automotive interior materials market is segmented into three notable segments which are type, vehicle type and application:
- On the basis of type, the market is segmented into leather, thermoplastic polymers, fabric, plastic, metal, composites and others
- In April 2019, Lear Corporation acquired Seattle-based Xevo Inc. in order to enhance its software, services, and data analytics methodologies. The acquisition will help the company in enhancing its in-vehicle touchscreens and OEM-branded mobile applications creating a positive brand image in the automotive market
- On the basis of vehicle type, the market is segmented into passenger vehicles, light commercial vehicles (LCV), heavy weight commercial vehicles (HCV) and others
- In January 2019, Celanese Corporation acquired 365 kilo tons per annum synthesis gas production unit from Linde AG. The acquisition was mainly to provide additional productivity and growth options in Gulf Coast region and raw material to the production facility at Texas.
- On the basis of application, the market is segmented into seating, dashboards, airbag & seat belt, door panel, carpet & headliner, interior trim, child seat, IVI system, noise cancellation and others
- In October 2018, Adient and Boeing announced their joint venture to scheme their Airplane seat operations in Adient Aerospace. The joint venture was mainly to address more capacity and quality in airplane seating in the aviation industry developing a portfolio of seats for new airplane and retrofit configurations.
Competitive Analysis: Malaysia Automotive Interior Materials Market
Some of the major players operating in this market are TOYOTA BOSHOKU CORPORATION, Adient plc, Lear Corporation, Celanese Corporation, APM Automotive Holdings Berhad, Robert Bosch GmbH, BASF SE, SABIC, Continental Corporation, Faurecia and others.
- In May 2019, SABIC launched PP Compounds specifically for automotive interiors. The product can be used in low-gloss automotive interior components such as door panels and glove boxes and has excellent scratch performance. The new products will help in meeting the requirements of industrial customers.
- In August 2018, Robert Bosch GmbH has innovated new products that would provide a stress and accident free driving. The innovative products made by the company include turn warning, blind-spot recognition, predictive emergency braking, lane assistants and digital instrument cluster. Such new products will help the company to penetrate more into the market.
- In March 2018, Faurecia introduced a new product named as NAFILean. The product is light-weighted and is adopted by OEMs. The innovation will help the company to grow in this market. As per the company, it will be highly used in next generation vehicles.
Research Methodology: Malaysia Automotive Interior Materials Market
Primary Respondents: Key Industry Participants, Subject-Matter Experts (SMEs), C-level Executives of Key Market Players, Market Intelligence Managers, National Sales Managers and Industry Consultants.