PUBLISHER: BIS Research | PRODUCT CODE: 1449234
PUBLISHER: BIS Research | PRODUCT CODE: 1449234
Global Surface Materials for Transportation Market: Industry Overview
The demand for surface materials for transportation market such as upholstery, dashboards, headliners, and others is anticipated to grow with the increasing demand from end-use industries such as automotive, marine, aviation, rail, and among others. Furthermore, it is anticipated that during the projected period, i.e., 2023-2033, the increasing adoption of surface materials in the automotive industry in several advanced economies, including the U.S., Canada, Germany, France, Italy, China, India, among others, are expected to further increase the advancement of the global surface materials for transportation market. However, the escalating emphasis on demand for aftermarket customer modification acts as a key driving force behind the increasing demand for surface materials such as fabrics, natural leather, synthetic leather, non-wovens, among others and the surge in vehicle production significantly affects the growth of the global surface materials for transportation market. However, in a price-sensitive market, increasing installation costs and fluctuation in raw material prices can hinder consumer adoption and act as a challenge in the global surface material for transportation market.
Market Lifecycle Stage
KEY MARKET STATISTICS | |
---|---|
Forecast Period | 2023 - 2033 |
2023 Evaluation | $33.61 Billion |
2033 Forecast | $69.03 Billion |
CAGR | 7.46% |
The surface materials for transportation market is in the growth phase. The market is propelled by the growing customer interest in vehicle personalization and is expected to boost the market. Furthermore, high demand from end-use industries and governments' emphasis on sustainability in all sectors increases the demand for sustainable surface materials such as, recycled materials, plant-based materials, bio-based materials, and others, thereby bolstering the global surface materials for transportation market. Moreover, the surface materials for transportation market is expected to benefit from the expansion of manufacturing facilities in emerging markets, which represents a strategic move that holds immense potential for advanced economies in the surface materials for transportation market.
Industrial Impact
Surfac materials offer numerous advantages. It provides an excellent opportunity for automotive manufacturers to elevate themselves with the use of advance fabrics, natural leather, synthetic leather among others in various applications such as upholstery, dashboard, headliner, and others. Furthermore, surface materials can made into smart materials by embedding them with sensors or other materials that can respond to stimuli, for example synthetic leather could be made to change color in response to changes in temperature, or it could be made to become more conductive in the presence of moisture.various surfaces, facilitating consistent and visually attractive advertisemen. In the same vein, renowned for its durability, surface materials offer a resilient solution for vehicle interiors and exteriors. Surface materials offer a transformative solution for building industries by providing aesthetic designs for designers to enhance their creativity. Furthermore, the adaptability of surface materials allows the creation of dynamic and changeable surface elements.
Market Segmentation:
Segmentation 1: by Application
The upholstery leads the global surface materials for transportation market.
Segmentation 2: by Sales Channel
The surface material for transportation marke tis estimated to be led by the OEM segment in terms of sales channel.
Segmentation 3: by End-Use Industry
The surface material for transportation market is estimated to be led by automotive in terms of end-use industry.
Segmentation 4: by Material Type
The surface material for transportation market is estimated to be led by leather in terms of material type.
Segmentation 5: by Region
North America - U.S., Canada, and Mexico
Europe - Germany, France, U.K., Italy, and Rest-of-Europe
Asia-Pacific - China, Japan, Australia, South Korea, India, and Rest-of-Asia-Pacific
Rest-of-the-World - Brazil, U.A.E., and Others-of-Rest-of-the-World
In the surface materials for transportation market, Asia-Pacific is anticipated to gain traction in terms of production and adoption, owing to the continuous growth of surface materials such as natural leather, synthetic leather, fabric, among others and North America is anticipated to have a presence of key manufacturers in the region.
Recent Developments in the Global Surface Materials for Transportation Market
Demand - Drivers and Challenges
The following are the demand drivers for the global surface material for transportation market:
The surface materials for transportation market is expected to face some limitations as well due to the following challenges:
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different surface materials, various sales channels such as OEM and aftermarket, end-use industries, and different material types involved in the production of surface materials. Moreover, the study provides the reader with a detailed understanding of the surface materials for transportation marketbased on the end user (automotive, marine, aviation, rail and others).
Growth/Marketing Strategy: The surface materials for transportation market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global surface materials for transportation market. For instance, Covestro, a materials manufacturer, has established a worldwide collaboration with Xinquan Automotive, a China automotive trim company, during the China International Import Expo held in Shanghai.
Competitive Strategy: Key players in the surface materials for transportation market analyzed and profiled in the study involve surface materials manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the surface materials for transportation market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on input gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
The surface materials for transportation market has been segmented based on material type, among which leather accounted for around 44.1%, fabric around 38.0%, vinyl held around 9.8%, and other sustainable alternatives held for approximately 8.1% of the total surface materials consumed in the year 2022 in terms of value.
Some of the prominent established names in this market are:
Company Type 1 (by Material Type): Vinyl
Company Type 2 (by Material Type): Leather
Company Type 3 (by Material Type): Fabric
Company Type 4 (by Material Type): Other Sustainable Alternatives
Companies that are not a part of the previously mentioned poll have been well represented across different sections of the report (wherever applicable).
Scope and Definition