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Automotive Surface Material Market: Introduction

  • Automotive surface materials are used in the interior of various vehicles and offer an attractive appearance, improved sustainability, and enhanced reliability to automobiles. They are utilized in the manufacture of various automotive interior components of vehicles.

Key Drivers of Automotive Surface Material Market

  • Shifting consumer preference from sedans to SUVs and increasing disposable incomes of consumers have been propelling the demand for luxury cars around the world. Major economies, such as U.S, Europe, and China, are witnessing the trend of rising demand for luxury automotive vehicles. Consequently, this trend is fueling the demand for surface materials with high functional and haptic demands.

Restrains in Automotive Surface Material Market

  • The COVID-19 pandemic has affected domestic as well as international automotive supply chains, manufacturing and R&D operations, and consequently, hampered the automotive industry. Post first wave of COVID-19, global economies have started opening automotive manufacturing and supply chain operations, thus the COVID impact on the industry seems to have reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty in the automotive industry continues. A gradual recovery in the demand for automotive and ancillaries is anticipated in the next few months, despite concerns around the risk of a second wave of infection in several countries and other geopolitical risks.

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Opportunities in Automotive Surface Material Market

  • Globalization has resulted in a challenging automotive manufacturing environment that is changing at a rapid pace, resulting in growing competition between international and domestic car manufacturers. The automotive industry is working hand-in-hand with major technology companies to stay ahead in the competition and deliver highly advanced, safe, and comfortable vehicles. Car seats are important for safe driving, comfort seat systems can aid driver to concentrate on driving, thereby avoiding accidents. Shifting OEM’s focus towards offering feel good interiors to influence vehicle buyers, especially mid-range and compact-class vehicles will provide opportunity for the automotive surface materials market.

Europe to Dominate Automotive Surface Material Market

In terms of geography, Europe is expected to offer several opportunities to the automotive surface material market during the forecast period. Expansion of the automotive surface material market can be attributed to high penetration of luxury cars in the region. Germany, France, and the U.K. are key markets for automotive surface material market in Europe.

Key Players Operating in Automotive Surface Material Market

The global automotive surface material market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the global automotive surface material market are:

  • Duracote Corporation
  • Continental AG
  • Impact Consumer Products Group
  • Covestro
  • Borealis
  • BASF
  • SABIC
  • INEOS
  • Reliance Industries Limited
  • 3M

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Global Automotive Surface Material Market: Research Scope

Global Automotive Surface Material Market, by Vehicle Type

  • Passenger Vehicle
    • Hatchback
    • Sedan
    • Utility Vehicles
  • Light Duty Vehicle
  • Medium & Heavy Duty Trucks
  • Buses & Coaches

Global Automotive Surface Material Market, by Sales Channel

  • OEM
  • Aftermarket

Global Automotive Surface Material Market, by Automotive Component

  • Seat Covers
  • Instrument Panels
  • Door, Side Panels, & Center Console
  • Pneumatic Seat System
  • Floor Covering & Heel Mats
  • Rear Tray
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Surface Material Market

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