Precedence Research recently published a report titled “Automotive Interior Materials Market – Global Industry Analysis, Trends, Regional Outlook, and Forecast 2021 – 2030”
The global automotive interior materials market size is projected to hit USD 42.60 billion by 2030 and is anticipated to grow with a healthy CAGR of 5.6% over the forecast period 2021-2030.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.
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Interior material plays a significant role in the design of an automobile are utilized as inside cabin materials in a vehicle such as plastics, composites, metals, and many others. As the demand for high performance is increasing in a vehicle, the demand for improved ergonomics and appealing aesthetics is also rising at the same rate for the automotive interior. Advanced lighting and higher-level of comfort are the common features demanded by the consumers in almost every new automobile. Doors, console, seats, dashboards, floor carpet, steering wheels, and various other interior parts of a vehicle are the common application areas for an automotive interior material.
Increasing demand for light weight vehicle and hence its body parts and other materials used in the manufacturing process is one of the significant factors that drives the market for automotive interior materials in the coming years. Cabin section of an automobile is very critical for the overall weight of a vehicle and making light weight automotive interior materials are imperative for conserving the emission level. Superior functions and attributes of cabin components have significantly increased the number of interior automotive components.
Further, rising demand for low-emission materials particularly from the emerging nations along with stringent fuel economy standards have propelled the market growth for automotive interior materials. For instance, in 2018, the Ministry of Industry and Information Technology (MIIT) in China issued new guidelines for the passenger vehicles sold in the country. Under the guideline, new vehicle should meet the average fuel economy of 5.8 liters per 100 kilometers. In the last decade, the average fuel efficiency of new cars in China is better compared to USA, Europe, Japan, Australia, and other parts of the world.
However, rising prices for natural leather anticipated to hinder the market growth and likely to propel the demand for synthetic leathers. This is mainly attributed to the demand-supply gap along with increasing regulations for the use of synthetic leathers. As synthetic leathers are not bio-degradable, hence governments of various regions have issued stringent regulations on the application of synthetic leathers as well as to promote the application of natural leathers in various industries. The aforementioned factors are expected to prosper the market growth of automotive interior materials in the near future.
- The Asia Pacific leads the global automotive interior materials market owing to prominent growth of automotive industry in the region
- North America and Europe are the significant markets in the global automotive interior materials owing to stringent regulations and amendments in the automotive applications
- By material, plastics captured majority of revenue share in the year 2020 because of its favorable capabilities to make a vehicle lighter and more appealing in terms of aesthetics
- In terms of application, seats dominated the global automotive interior materials market and hold nearly 30% in the year 2020 owing to an important segment for driver and passenger comfort
- Based on vehicle, passenger car leads the global automotive interior materials market in the year 2020 and projected to maintain the same trend over the forecast period due to high sales rate compared to other vehicle types
- On the basis of end-users, aftermarket captured considerable revenue share and register a fast growth during the forecast period because of increasing demand for parts change in vehicles
By geography, the Asia Pacific is the front-runner in the global automotive interior materials market and estimated to continue the same trend in the upcoming period. The region estimated to hold nearly 50% of the revenue share by the analysis period. This is mainly because of rising sale of automobiles in the region. Rising urbanization, robust economic development, and rising purchasing power of middle-class people in the region are other significant factors that propel the growth of automotive interior materials market. Apart from this, proliferating demand of passenger cars along with supportive government measures like to accelerate the demand for automotive interior materials in the region.
The automotive interior materials market report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation, and so on.
Some of the key players in the global automotive interior materials market include:
- Evonik Industries AG
- UFP Technologies
- Saudi Basic Industries Corporation (SABIC)
- BASF SE
- Stahl Holdings B.V.
- Hexcel Corporation
- Continental AG
- Toray Industries Inc.
- Huntsman International
- Sumitomo Chemical Company
- Dow Chemical Company
- Trinseo S.A.
- Borealis AG
- Covestro AG
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Precedence Research has segmented the global automotive interior materials market report on the basis of material, vehicle, application, end-users, and region:
By Material Outlook
- Glass Fiber
- Carbon Fiber
- Natural Fiber
By Vehicle Outlook
- Passenger Cars
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
By Application Outlook
- Consoles & Dashboards
- Floor Carpet
- Steering Wheels
By End-users Outlook
By Regional Outlook
- South Korea
Rest of the World
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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