The market size of automotive interior materials was USD 48.1 billion in 2021 and is projected to reach USD 54.8 billion by 2026, at a CAGR of 2.6% between 2021 and 2026. Globally, the automotive interior materials market has a higher penetration in Asia Pacific and Middle East & Africa. This growth is attributed to the rising economic condition and urbanization in Asia Pacific and Middle East & African countries.Optimizing fuel efficiency by reducing the overall vehicle weight, increased globalization, and the high demand for new technologies and customization are driving the automotive interior materials market. However, improper disposal of effluents formed during the tanning process of converting raw animal hide to genuine leather is restraining the market growth. The wastewater from the beam house processes, such as soaking, liming, and deliming, is highly alkaline, containing decomposing organic matter, hair, lime, sulfide, and organic nitrogen with high biochemical oxygen demand (BOD) and chemical oxygen demand (COD). This factor is negatively affecting the growth of the market. The challenge of this market is the profitability and sustainability within the regulatory framework. The automotive industry is currently under constant pressure to adapt to new changes due to technological advancements and end-user preferences. Vehicle interiors are key areas that have witnessed a rapid change due to various factors such as the consumer demand for safety and comfort, preference for fuel efficiency, and increasing competition within the industry. OEMs strive to provide vehicles with good interior styling, comfort, and safety. They also focus on reducing the weight of the vehicle by using lightweight, cost-effective, and highly durable materials in the designing of components.
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Based on type,
the automotive interior
materials market is segmented into polymer, genuine leather, fabric, synthetic
leatherand others which include rubber, wood and metals. Automotive interior materials are used in seats, headliners, floor
mats, interior carpets, convertible tops, vinyl roof covers, dashboards, and
door panels and trims of an automobile.They are processed and supplied to OEMs
for the manufacture of automotive components. Polymers used in the automotive
interior is generally thermoplastics which are multiphase compositions in which
one phase consists of a material that is hard at room temperature and fluid
when heated, and the other phase consists of an elastomeric material that is
soft and rubberlike at room temperature.
Based on vehicle
type, the automotive interior materialsmarket
is segmented as passenger vehicles, light commercial
vehicles (LCV), heavy commercial vehicles (HCV), and buses & coaches.The
consumption of interior materials by these vehicle types depends on the overall
production of these vehicles, globally. Automotive interior materials are used
to improve the aesthetics and comfort of the automotive seating area. Effective
use of these materials directly influences the vehicle's sales, costs, and
customer’s driving comfort. The demand for automotive interior materials for
different vehicle types is estimated based on the current understanding of the
market dynamics and regulatory environment of the global automotive industry.Passenger vehicles require high-quality interiors as compared to
LCVs and HCVs due to end-user demand. The amount of money spent on quality,
comfort, and styling of automotive interiors is higher in the case of personal
use than commercial use of vehicles. Also, the increased disposable income in
developing countries is driving the growth of the automotive interior market
for passenger vehicles.
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Based on application,
the automotive interior
materialsmarket has been segmented intodashboard, door panel, seats, floor carpets, and others which include
headliners, sun visor, interior lighting, rear seat entertainment.Introduction
of lightweight yet durable interior materials and growing trend of luxurious
features, such as powered and ventilated seats having massage function and
ambient lighting in interiors, have created growth opportunities for various
automotive interior materialsmanufacturers in the automotive industry.
On the basis of region, Asia Pacific was the largest market for automotive
interior materials, followed by Europe and North
Americain 2020. Asia Pacific
is the largest market owing to rapid economic growth in the region. Large
population, increasing demand in China, India, Japan, and other Southeast Asian
countries, and the growing automotive industry fuels the growth of the
automotive interior materials market in the region. The market in North America
is projected to grow at a moderate rate during the forecast period because of
the shift of manufacturing bases to the developing countries. However, the
rising demand for luxury vehicles in the region will drive the need for
automotive interior materials.
The key market players profiled in the report include Lear Corporation (US), Asahi Kasei Corporation (Japan), Toyota
Boshoku Corporation (Japan), Faurecia (France), Toyoda Gosei Co., Ltd. (Japan),
Grupo Antolin (Spain), Yanfeng Automotive Interiors (YFAI) (China), Seiren Co.
Ltd. (Japan), DK Leather Corporation Berhad (Malaysia) and DRAXLMAIER Group
(Germany).They
have adopted strategies such as and new product launch, acquisition, and collaborationin
order to gain an advantage over their competitors.
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