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  • Automotive Interior Materials Market Growth Analysis | 2023-28

    Automotive Interior Materials Market Growth Analysis | 2023-28

    Automotive Interior Materials Market Growth Analysis | 2023-28
    Report code - SRTI173 Delivery - 2 Weeks
    Automotive Interior Materials Market Size, Share, Trend, Forecast, & Industry Analysis See more...

    Market Insights

    The automotive interior materials market is estimated to grow from USD 49.88 billion in 2022 to USD 58.93 billion by 2028 at a CAGR of 2.72% during the forecast period.

    To get detailed information about this report,

    What is automotive interior material?

    Automotive interior materials are components that are installed in a vehicle and are designed in a way to improve the esthetic appeal of the vehicle. These decorative automotive interiors are of different types such as polymers, genuine leathers, fabric, synthetic leather, and others, and can be used for the application of dashboards, seats, airbags & seatbelts, and others which can be utilized to improve vehicle cabin ambiance and comfort.

    Automotive Interior Material Report Overview

    Market Size in 2028

    USD 58.93 billion

    Market Size in 2022

    USD 49.88 billion

    Market Growth (2023-2028)

    CAGR of 2.72%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the major players in the market are-

    • Arkema
    • BASF SE
    • Continental AG
    • Evonik Industries AG
    • Hexcel Corporation
    • RPM International Inc.
    • Saudi Basic Industries Corporation
    • Stahl Holdings B.V.
    • Toray Industries, Inc.
    • UFP Technologies.

    Market Dynamics

    The impressive growth of the market is attributable towards:

    • The major factors such as growing emphasis on overall weight minimization of vehicles for optimizing the efficiency of fuel.
    • Growth in the automotive industry in emerging regions is expected to be the main factor for increased demand.
    • Different types of organic and inorganic strategies are adopted by the key players in the market to expand their presence in emerging markets, such as China, India, Thailand, and Brazil.

    To get more information about this report, Click here.

    Segment Analysis

    By Material Type

    The market is segmented into plastics, composites, fabrics, leathers, and others. Plastic material share is estimated to account for a major part of the market with a share of > 40%in 2022. The growth of the segment is attributed to its favorable abilities and the vast chemical properties of the material. It is one of the most researched materials and has gained mutual adoption in the automotive industry owing to its favorable mechanical features accompanied by excellent aesthetical appearance. Plastics have witnessed a high growth rate in the market by being the second-most common class of material used in the manufacturing of vehicles after ferrous metals.

    By Application Type

    The market is segmented into consoles & dashboards, doors, seats, steering wheels, floor carpets, and others. The seat application is estimated to hold more than 30% market share in the upcoming years. Seats provide ease to the driver for being comfortable in a long drive or in any bad driving condition. A variety of materials are used to manufacture seats as a result of various psychological & physiological studies on the perception of humans, posture and adjustability, and weight distribution. Furthermore, seat cushions are manufactured with high-performance polyurethane foams along with covering materials such as fabric or leather.

    By Vehicle Type

    The automotive interior materials market is segmented as passenger cars, lightweight commercial vehicles, and heavy commercial vehicles. Passenger cars hold >75% of the market share in 2022 and witness a significant growth rate during the forecast period. Factors such as the initiatives made by the government to decrease environmental and material pollution, growing demand for individual vehicles in emerging countries, growing requirements for safety and comfort levels, and increasing usage of thermoplastics owing to their recyclability are expected to fuel the growth of the market during the forecast period.

    To know more about the market segmentation,

    By End-User Type

    The market is segmented as automotive OEMs and aftermarkets. The aftermarket segment is estimated to be the faster-growing end-user type during the forecast period. The grow is attributed to the large presence of small & large-scale suppliers. Types of components such as floor carpets, steering covers, and replacement seat covers, and also E-commerce platforms are expected to play an important role and contribute to the product demand in the market during the forecast period.

    By Region

    Asia-Pacific is estimated to account for more than 45% revenue share of the market in the upcoming years, attributed to the growth and development in the regional automotive industry. Factors such as increasing urbanization, healthy economic growth, the growing spending power of the middle-class populace, supportive initiates made by the government, and the growing demand for passenger cars along with increasing aftermarket activities are expected to fuel the growth of the regional market in the upcoming years. Europe and North America are also expected to offer substantial growth opportunities during the forecast period. 

    To know which regions offer the best growth opportunities,

    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. 

    The market is segmented into the following categories. 

    By Material Type:

    • Plastics
      • (Material Type Analysis: Thermoplastics and Thermosets)
    • Composites
      •  (Material Type Analysis: Glass Fiber, Carbon Fiber, and Natural Fiber)
    • Fabrics
    • Leathers
    • Others

    By Application Type:

    • Consoles & Dashboard
    • Doors 
    • Seats
    • Steering Wheels
    • Floor Carpets
    • Others

    By Vehicle Type:

    • Passenger Cars
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles

    By End-User Type:

    • Automotive OEMs 
    • Aftermarkets 

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Research Methodology

    • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
    • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
    • We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Automotive Interior Materials Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10%

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the material types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Automotive interior materials are components that are installed in a vehicle and are designed in a way to improve the esthetic appeal of the vehicle. These decorative automotive interiors are of different types such as polymers, genuine leathers, fabric, synthetic leather, and others, and can be used for the application of dashboards, seats, airbags & seatbelts, and others which can be utilized to improve vehicle cabin ambiance and comfort.

    Arkema, BASF SE, Continental AG, Evonik Industries AG, Hexcel Corporation, RPM International Inc., Saudi Basic Industries Corporation, Stahl Holdings B.V., Toray Industries, Inc., and UFP Technologies are among the key players in the market.

    Passenger cars are expected to account for the largest share of the market during the next five years.

    The major factors such as growing emphasis on overall weight minimization of vehicles for optimizing the efficiency of fuel. Growth in the automotive industry in emerging regions is expected to be the main factor for increased demand. Different types of organic and inorganic strategies are adopted by the key players in the market to expand their presence in emerging markets, such as China, India, Thailand, and Brazil.

    The aftermarket segment is expected to be the faster growing segment in the market in the coming years.

    The automotive interior materials market is likely to grow at a healthy CAGR of 2.72% during the forecast period.

    The automotive interior materials market is likely to grow from USD 49.88 billion in 2022 to reach USD 58.93 billion by 2028.

    The study period of this market report is 2017-28.

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