Automotive Interior Materials Market Size, Sector / Industry Report & Analysis, 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Automotive Interior Materials Market


The global automotive interior materials market was valued at USD 43.17 billion in 2016 and is estimated to expand at a CAGR of 5% over the forecast period. Rise in demand for passenger vehicles in North America and Asia Pacific is projected to drive market growth over the forecast period.
Asia Pacific was the largest regional market for automotive interior materials in 2016 on account of willingness of consumers to spend on premium interiors. Moreover, the automotive sector in India and China is still growing, providing lucrative opportunities for manufacturers of automotive interior materials. For instance, automotive production in China increased by 3,615,500 units during 2015-16. This factor is expected to have a positive influence on regional market growth over the forecast period.
 
Rapid growth of passenger cars, coupled with a change in consumer lifestyle, is expected to further augment demand for automotive interior materials over the forecast period.  Global sales of passenger vehicles and LCV was 20.4 million in the first quarter of 2016, which was 2.8% higher than that in the first quarter of 2015. Need for lightweight vehicles is expected to increase demand for automotive plastics and composites over the forecast period.
The market for automotive interior materials is highly competitive due to presence of various global manufacturers, namely TATA Group, ContiTech AG, Magna International, Hyundai Mobis Co., Ltd., and Faurecia S.A.

Market Segmentation, Outlook & Viewpoint: Global Automotive Interior Materials Market


Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Leather

Composite

Plastic

Metals

Fabric


Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Dashboard

Seats

Airbags & Seat belts

Door panel & trims

Carpet and headliners

Others


Vehicle Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Passenger Vehicle

Light Commercial Vehicle

Heavy Commercial Vehicle


Key Players, Recent Developments & Regional Insights: Global Automotive Interior Materials Market


In 2016, plastic accounted for 43.6% of the market for automotive interior materials in terms of revenue. Due to technological advancements in blended polymers and design and processing techniques, modern plastic interiors look and feel like premium materials. Demand for aesthetically appealing interiors in cars has risen, which will increase demand for plastics in automotive interiors over the forecast period.
Leather is the most expensive material and its stitching and trimming takes much longer than fabric. Many manufacturers are using artificial leather in automobiles owing to cost efficiency, aesthetic appeal, and other benefits. This is expected to drive demand for synthetic leather over the forecast period.
Fabric interiors are considered comfortable and attractive. Wool, for instance, is versatile and durable and hence is widely used in automobile interiors. Ability of wool to be dyed and woven into any texture has increased its application in seat and door panels, thus creating enormous opportunities for this market.
Design flexibility, material anisotropy, corrosion resistance, and favorable mechanical properties are expected to augment the demand for composite automotive interior materials over the forecast period. However, high material cost, lack of recyclability, low crash protection characteristics, and slow production are expected to hinder market growth.
Application Insights
Dashboard dominated the market for automotive interior materials by application and accounted for a revenue share of 33.0% in 2016. Improvement in vehicle dashboards and their material has a significant impact on the automotive industry as dashboards are now expected to be environment-friendly and free from hazardous materials. Increase in production of dashboards, which utilizes new technology, design, and material, is expected to propel market growth.
Ventilated seats is a popular trend in the automotive industry as these seats enhance passenger comfort. Ventilated seats are now available not just in premium cars but also in many entry-level and mid-segment cars. High demand for ventilated seats is expected to drive the growth of the seats segment over the forecast period.
The revenue share of airbags and seatbelts in the market for automotive interior materials was 16.2% in 2016 and is expected to grow at a significant pace. Adoption of safety regulations by a number of governments and automotive agencies, coupled with increase in attention to safety in vehicles, is expected to propel demand for airbags and seatbelts and drive innovation in this segment.
Use of new technologies and different approaches to manufacture reliable flooring and headliner components is expected to be a prominent driver for the carpets and headliners segment. Rise in living standards and need for comfortable vehicles is expected to further propel market growth.
Vehicle Type Insights
In 2016, passenger vehicles accounted for a revenue share of 75.5% in the market for automotive interior materials. The segment has benefited from increase in willingness among consumers to spend on high-quality and long-lasting products. This has led manufacturers to work on innovative products offering high-end features at low costs.
 
Increase in demand for commercial transportation services, namely taxis, is projected to propel demand for light commercial vehicles over the forecast period. In addition, improved road infrastructure globally, rapid urbanization, and supportive regulatory policies are likely to propel demand.
Heavy commercial vehicles accounted for merely 4.3% of the market in 2016. Presence of numerous small and medium enterprises, which need to transport goods to various locations, is anticipated to increase the need for light commercial vehicles, thereby limiting the demand for heavy commercial vehicles.

Regional Insights
Asia Pacific is anticipated to witness a CAGR of 6.4% from 2017 to 2025. Increased government support in terms of subsidies and positive regulations is expected to attract automotive manufacturers to set up plants in the region, which is expected to drive the growth of the APAC market for automotive interior materials.
Europe is expected to witness a CAGR of 3.9% from 2017 to 2025 and will remain an important market in the global scenario. Importance of automotive interiors for European consumers has empowered manufacturers to innovate and market a variety of applications, which is expected to drive demand.
The market for automotive interior materials is comparatively more developed in North America due to growth in demand for passenger vehicles, frequent technological advancements, and economic feasibility of premium options. Widespread dependence on cars for personal transportation in North America is likely to enable steady growth of the market in this region. Moreover, demand is expected to rise at a significant rate due to strict standards pertaining to fuel economy.
Strong and consistent automotive sales growth is expected in MEA countries such as Egypt, South Africa, Nigeria, and Iran in the coming years, which is likely to increase automotive production activities in the region. With rapid infrastructural development, requirement of heavy commercial vehicles is increasing in the region, creating strong opportunities in the MEA market for automotive interior materials.
Competitive Insights
Presence of various international players has led to high competitive rivalry within the market. Key market participants include ContiTech AG, Toyoda Gosei Co., Ltd., Grupo Antolin, Draxlmaier Group, Takata Corporation, Sage Automotive Interiors, SMS Auto Fabrics, Yanfeng Automotive Interiors, LEAR Corporation, Faurecia S.A., Magna International, Calsonic Kensei Corporation, Tachi-S Co. Ltd., Hyundai Mobis Co.  Ltd., and TATA Group.
Leading players in the market for automotive interior materials are involved in research and development to provide premium and comfortable interior systems. Major players are collaborating with local players in developing countries to widen their distribution network. Growth in focus on product differentiation and expansion of regional players is expected to be a major concern for global market players over the forecast period.

Key Insights Covered: Global Automotive Interior Materials Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Automotive Interior Materials industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Automotive Interior Materials industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Automotive Interior Materials industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Interior Materials industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Automotive Interior Materials industry.

Research Methodology: Global Automotive Interior Materials Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other