The global automotive interior materials market was valued at $55 billion in 2020 and is projected to reach $80.2 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.
Automotive interior materials are utilized for overall weight reduction of vehicles to optimize fuel efficiency. Composites and modern plastics offer excellent stiffness, and strength. Moreover, these materials offer extended vehicle durability, longevity, enhanced acoustics, optimum comfort, low emissions, and improved overall vehicle performance. Furthermore, they offer luxurious, natural leather feel for seats, trims, and steering wheels. The automotive interior materials are widely used in dashboards, door panel, seats, steering wheels, and floor carpet. Furthermore, companies offer automotive interior materials which are utilized in the automotive molding industry. These are used for manufacturing tire molds and molding and surface design for car interiors.
Increase in plastics consumption in automotive production and surge in consumer demand for lightweight vehicles across the globe boost the demand for automotive interior materials. In addition, technological development in passenger cars, rise in vehicle customization activities, increase in demand for aesthetically appealing interiors in vehicles, and surge in demand for low-emission materials propel the market growth. Furthermore, increase in adoption of green technology in automotive leather manufacturing is anticipated to create lucrative growth opportunities for the automotive interior materials market. However, rise in price fluctuations of raw materials restrains the market growth.
The automotive interior materials market is segmented on the basis of material, vehicle type, application, and region.
On the basis of material, the market is segmented into plastics, composites, fabrics, leather, and others. Depending on vehicle type, it is classified into passenger cars, light commercial vehicle, heavy commercial vehicle, and others. As per the application, it is segmented into dashboards, door panel, seats, steering wheels, floor carpet, and others. Plastics segment is projected to be the dominating segment during the forecast period, owing to to its excellent mechanical properties and aesthetical appearance. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2020, and is expected to maintain its dominance during the forecast period. There is increase in adoption of automotive interior materials products in the region, owing to rise in urbanization, surge in economic development, and growth in automotive sector in China, India, Japan, South Korea, and Thailand, which, in turn, boost the growth of the automotive interior materials market.
The key players profiled in the report include 3M, ARKEMA Group, BASF SE, Covestro AG, Dow, Evonik Industries AG, HEXCEL CORPORATION, HUNTSMAN INTERNATIONAL LLC, STAHL HOLDINGS B.V., and WACKER CHEMIE AG.
The other companies operating in the Bayerische Motoren Werke AG, Celanese Corporation, Delphi Automotive Plc. Grammer AG, Grupo Antolin-Irausa SA, Technical Textile Services Ltd., Toyota Boshoku Corporation, Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG others compete for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for automotive interior materials market during the forecast period. For instance, in December 2021, Dow launched LUXSENSE Silicone Synthetic Leather to meet specifications in transportation seating & interiors. The company introduced an alternative synthetic leather solution that delivers comfort, health, and luxury while offering enhanced sustainability.
Automotive interior materials are utilized for overall weight reduction of vehicles to optimize fuel efficiency. Composites and modern plastics offer excellent stiffness, and strength. Moreover, these materials offer extended vehicle durability, longevity, enhanced acoustics, optimum comfort, low emissions, and improved overall vehicle performance. Furthermore, they offer luxurious, natural leather feel for seats, trims, and steering wheels. The automotive interior materials are widely used in dashboards, door panel, seats, steering wheels, and floor carpet. Furthermore, companies offer automotive interior materials which are utilized in the automotive molding industry. These are used for manufacturing tire molds and molding and surface design for car interiors.
Increase in plastics consumption in automotive production and surge in consumer demand for lightweight vehicles across the globe boost the demand for automotive interior materials. In addition, technological development in passenger cars, rise in vehicle customization activities, increase in demand for aesthetically appealing interiors in vehicles, and surge in demand for low-emission materials propel the market growth. Furthermore, increase in adoption of green technology in automotive leather manufacturing is anticipated to create lucrative growth opportunities for the automotive interior materials market. However, rise in price fluctuations of raw materials restrains the market growth.
The automotive interior materials market is segmented on the basis of material, vehicle type, application, and region.
On the basis of material, the market is segmented into plastics, composites, fabrics, leather, and others. Depending on vehicle type, it is classified into passenger cars, light commercial vehicle, heavy commercial vehicle, and others. As per the application, it is segmented into dashboards, door panel, seats, steering wheels, floor carpet, and others. Plastics segment is projected to be the dominating segment during the forecast period, owing to to its excellent mechanical properties and aesthetical appearance. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2020, and is expected to maintain its dominance during the forecast period. There is increase in adoption of automotive interior materials products in the region, owing to rise in urbanization, surge in economic development, and growth in automotive sector in China, India, Japan, South Korea, and Thailand, which, in turn, boost the growth of the automotive interior materials market.
The key players profiled in the report include 3M, ARKEMA Group, BASF SE, Covestro AG, Dow, Evonik Industries AG, HEXCEL CORPORATION, HUNTSMAN INTERNATIONAL LLC, STAHL HOLDINGS B.V., and WACKER CHEMIE AG.
The other companies operating in the Bayerische Motoren Werke AG, Celanese Corporation, Delphi Automotive Plc. Grammer AG, Grupo Antolin-Irausa SA, Technical Textile Services Ltd., Toyota Boshoku Corporation, Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG others compete for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for automotive interior materials market during the forecast period. For instance, in December 2021, Dow launched LUXSENSE Silicone Synthetic Leather to meet specifications in transportation seating & interiors. The company introduced an alternative synthetic leather solution that delivers comfort, health, and luxury while offering enhanced sustainability.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive interior materials market analysis from 2020 to 2030 to identify the prevailing automotive interior materials market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive interior materials market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive interior materials market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Composites
- Others
- Plastics
- Metals
- Fabric
- Leather
By Vehicle Type
- PV
- LCV
- HCV
By Application
- Dashboard
- Door Panel
- Seats
- Floor Carpets
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest Of Asia Pacific
- LAMEA
- South Africa,
- Brazil
- Rest of LAMEA
Key Market Players
- BASF SE
- BENECKE-KALIKO AG
- BORGERS SE & CO. KGAA
- THE DOW CHEMICAL COMPANY
- DK-SCHWEIZER CO.
- EAGLE OTTAWA LLC
- E.I. DU PONT DE NEMOURS & CO.
- FAURECIA AUTOMOTIVE GMBH
- JOHNSON CONTROLS, INC.
- KATZKIN LEATHER, INC.
- LEAR CORPORATION
- SAGE AUTOMOTIVE INTERIORS, INC.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE INTERIOR MATERIALS MARKET, BY TYPE
CHAPTER 5: AUTOMOTIVE INTERIOR MATERIALS MARKET, BY VEHICLE TYPE
CHAPTER 6: AUTOMOTIVE INTERIOR MATERIALS MARKET, BY APPLICATION
CHAPTER 7: AUTOMOTIVE INTERIOR MATERIALS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Automotive Interior Materials Market,' the automotive interior materials market was valued at $55.0 billion in 2020, and is estimated to reach $80.2 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.Technological advancements, rise in vehicle customization activities, increase in consumer demand for lightweight vehicles, surge in demand for low-emission materials, and growth in electric vehicles market are the key factors that drive the growth of the global automotive interior materials market. In addition, adoption of green technology in the production of automotive leather is expected to provide growth opportunities for the market players. The plastics segment generated the highest revenue in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to its superior mechanical properties along with excellent aesthetical appearance.
The automotive interior materials are primarily used in the production of headrests, seat covers, door panels, consoles, floor mats, and dashboards. These gain traction in passenger cars, light commercial vehicle, and heavy commercial vehicles. The automotive sector in developing countries is predicted to grow, owing to growth in manufacturing sector and improvement in economic conditions. Increase in demand for luxury vehicles in developed and developing countries drives the growth of market for automotive interior materials.
The automotive interior materials market is segmented on the basis of type, vehicle type, application, and region.
On the basis of type, the market is segmented into plastics, metals, fabric, leather, composites and others. Depending on vehicle type, it is classified into PV, LCV and HCV. As per the application, it is segmented into dashboard, door panel, seats, floor carpets and others. The door panel segment accounted for the highest market share in 2020, owing to surge in usage of automotive interior materials in door panels of the vehicles to enhance aesthetic appeal. Region wise, Asia-Pacific dominated the market in 2020, and is expected to maintain its dominance during the forecast period. There is increase in adoption of automotive interior materials products in the region, owing to rise in urbanization, surge in economic development, and growth in automotive sector in China, India, Japan, South Korea, and Thailand, which, in turn, boost the growth of the automotive interior materials market.
The key players profiled in the report include 3M, ARKEMA Group, BASF SE, Covestro AG, Dow, Evonik Industries AG, HEXCEL CORPORATION, HUNTSMAN INTERNATIONAL LLC, STAHL HOLDINGS B.V., and WACKER CHEMIE AG.
The other companies operating in the automotive interior materials industry include Bayerische Motoren Werke AG, Celanese Corporation, Delphi Automotive Plc Grammer AG, Grupo Antolin-Irausa SA, Technical Textile Services Ltd., Toyota Boshoku Corporation, Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG which compete for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the demand for the automotive interior materials during the forecast period. For instance, October 2021, Huntsman announced the launch of new range of low-emission MDI-based foam systems for automotive interiors, including the ACOUSTIFLEX LE and RUBIFLEX LE polyurethane product lines. These innovative technologies allow global automotive formulators and foam producers to develop high performance polyurethane foams, while lessening interior emissions levels to meet OEMs requirements.
IMPACT OF COVID-19 ON GLOBAL AUTOMOTIVE INTERIOR MATERIALS MARKET
- Emergence of COVID-19 pandemic negatively impacted the global automotive interior materials market.
- This impact is attributed to substantial disruptions in the raw material transportation and shutdown of manufacturing as well as end-use industries, including automotive sector, hence resulting in decline in demand for automotive interior materials during this period. For instance, there were large scale production interruptions across Europe, disruption in Chinese parts exports, and closure of assembly plants in the U.S. owing to COVID-19. Furthermore, vehicle sales in China declined in February 2020. Sales had plunged in the U.S. and Europe in April 2020. The passenger car sales in Europe declined by more than 65% between March and April 2020.
Key Findings of Study
- By region, Asia-Pacific held a dominant position in 2020.
- By type, the composites segment is projected to be the dominating segment during the forecast period.
- By application, the door panel segment is projected as the most lucrative segment.
Companies Mentioned
- BASF SE
- BENECKE-KALIKO AG
- BORGERS SE & CO. KGAA
- THE DOW CHEMICAL COMPANY
- DK-SCHWEIZER CO.
- EAGLE OTTAWA LLC
- E.I. DU PONT DE NEMOURS & CO.
- FAURECIA AUTOMOTIVE GMBH
- JOHNSON CONTROLS, INC.
- KATZKIN LEATHER, INC.
- LEAR CORPORATION
- SAGE AUTOMOTIVE INTERIORS, INC.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 243 |
| Published | May 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 55 billion |
| Forecasted Market Value ( USD | $ 80.2 billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
