Automotive Interior Materials Market Size By Material (Plastic [Thermoplastics, Thermosets], Composites [Glass Fiber, Carbon Fiber, Natural Fiber], Fabrics, Leather), By Application (Consoles & Dashboards, Doors, Seats, Steering Wheels, Floor Carpet), By Vehicle (Passenger Cars, LCV, HCV), By End-users (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Aug 2020  |  Report ID: GMI2086  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 200   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Interior Materials Market size valued at USD 27.13 billion in 2019 and is estimated to exhibit over 5% CAGR from 2020 to 2026. Growing emphasis on overall weight reduction of vehicles to optimize fuel efficiency will be a major factor augmenting the automotive interior materials demand. Lightness, superior stiffness, and strength offered by composites and modern plastics have led to their emergence as viable interior solutions.
 

Lighweighting is a key strategy to improve the overall fuel efficiency of a vehicle. A reduction of 10% in vehicle weight will result in around 6% - 8% improvement in the efficiency of passenger cars and 10% in battery electric vehicles.
 

Automotive Interior Materials Market
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Composites and modern plastics have a strong potential in the development of energy-efficient vehicles. Major automotive manufacturers are focusing on reducing carbon emissions with the implementation of lightweight plastics and composites in vehicle instrument panels, dashboards, and flooring components.
 

The ongoing COVID-19 pandemic has caused a supply chain disruption across the automotive sector. International trade has been temporarily suspended by several countries across the globe, substantially impacting the automotive interior materials market demand. Furthermore, governments in most countries have imposed restrictions on citizen mobility and a temporary shutdown of production facilities in major industries as preventive measures.
 

Automotive Interior Materials Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 27,126.6 Million (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5.3% 2026 Value Projection: 27,294.0 Million (USD)
Pages: 200 Tables, Charts & Figures: 323
Geographies covered (20): U.S., Canada, France, Germany, Russia, UK, Italy, Poland, Spain, China, India, Japan, Malaysia, Indonesia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa, UAE
Segments covered: Material, Application, Vehicle, Distribution Channel and Region
Companies covered (15): UFP Technologies, Evonik Industries AG, Saudi Basic Industries Corporation (SABIC), Arkema, Stahl Holdings B.V., BASF SE, Hexcel Corporation, Toray Industries, Inc., Continental AG, Huntsman International, Dow Chemical Company, Sumitomo Chemical Company, Trinseo S.A., Covestro AG, Borealis AG
Growth Drivers:
  • Increasing consumer demand of vehicle comfort
  • Rising consumption of plastics in automotive production
  • Increasing vehicle customization activities
Pitfalls & Challenges:
  • High volatility in the prices of raw materials
  • Temporary closure of manufacturing facilities due to COVID-19

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Plastics to bank upon superior material properties

Plastic material segment will generate more than USD 20 billion revenue by 2026 owing to its favorable capabilities and the vast chemical know-how of the material. Plastic is amongst the most researched materials and has gained mutual adoption in the automotive industry due to its good mechanical properties combined with excellent aesthetical appearance. With clever interior placements and improvements in manufacturing capabilities, the material witnessed a rapid growth and gained the second position amongst the most common class of materials used in vehicle manufacturing next to ferrous metals.
 

Seats to dominate the industry statistics

Seats application segment will account for over 30% automotive interior materials market share by 2026. Seats are of considerable importance as they mitigate driver discomfort during long drives or bad driving conditions. Various psychological & physiological studies on human perception, weight distribution, posture and adjustability have resulted in the use of a variety of materials.
 

High-performance polyurethane foams coupled with covering materials, such as leather or fabric, are used in the manufacturing of seat cushioning. The need for lightweight components in modern vehicles has also resulted in the use of carbon fibers and other performance composites in the back portion of seats.
 

Rising passenger car sales to drive segment penetration

Automotive Interior Materials Market By Vehicle

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Passenger cars segment is projected to register around 5.5% growth rate during 2020-2026. These hold the major sales share with a decrease in update cycles and its consumption is set to remain high. However, several government initiatives to curb environmental pollution and material pollution have resulted in a surge in demand for composite materials. The use of thermoplastics is also on the rise due to their recyclability.
 

Aftermarket to emerge as the fastest-growing end-user

The aftermarket end user segment is expected to witness more than 6.5% CAGR through 2026 led by a large presence of small & large-scale suppliers. Components, such as floor carpets, replacement seat covers, and steering covers, will significantly contribute to the segment growth. E-commerce platforms are also anticipated to play a major role and small manufacturers will be able to expand their reach and base.
 

Asia Pacific to bank upon high vehicle adoption

Automotive Interior Materials Market Regional Insights

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Asia Pacific automotive interior materials market is likely to hold above 45% revenue share by 2026. It can be ascribed to the development in the regional automotive industry. Robust economic development, rising urbanization, increasing spending power of the middle-class populace, supportive government initiatives, etc., are some of the factors boosting the regional automotive industry growth. The proliferating demand for passenger cars coupled with rising aftermarket activities will boost the regional market demand.
 

Focused R&D activities, and acquisitions play major role in market consolidation

The automotive interior materials industry will experience intense competition in the coming years owing to the implementation of aggressive strategies, such as focused research & development activities, new product developments, acquisitions, etc., by major product manufacturers to gain a competitive advantage in the market. In October 2017, Stahl acquired BASF’s leather chemical business, thus acquiring chemical expertise for its leather chemical business and enabling significant expansion in its offerings. In May 2018, SABIC launched its PP compounds portfolio, especially for automotive interior applications, strengthening its market position.
 

Key automotive interior materials market participants are UFP Technologies, Evonik Industries AG, Saudi Basic Industries Corporation (SABIC), Arkema, Stahl Holdings B.V., BASF SE, Hexcel Corporation, Toray Industries, Inc., Continental AG, Huntsman International, The Dow Chemical Company, Sumitomo Chemical Company, Trinseo S.A., Covestro AG, Borealis AG, and many more. Major automotive manufacturers enter long-term supply agreements with these players to ensure the continuous supply of interior materials.
 

This market research report on automotive interior materials includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2016 to 2026 for the following segments:

Market, by Material

  • Plastics
    • Thermoplastic
    • Thermosetting
  • Composites
    • Glass Fiber Composites
    • Carbon Fiber Composites
    • Natural Fiber Composites
  • Leathers
  • Fabric
  • Others

Market, by Application

  • Consoles & Dashboards
  • Doors
  • Seats
  • Steering Wheels
  • Floor Carpet
  • Others

Market, by Vehicle

  • Passenger Cars
  • LCV
  • HCV

Market, by End-users

  • Automotive OEMs
  • Aftermarket

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
    • Poland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • UAE
    • Saudi Arabia

 

Frequently Asked Questions (FAQ) :

In 2019, automotive interior materials industry size was worth USD 27.13 billion and it is expected to depict 5% CAGR through 2026.
Plastic material segment may cross USD 20 billion by 2026 on account of huge chemical know-how of the material and its favorable capabilities, owing to which it has gained precedence in automotive sector.
Seats application segment may hold 30% of the industry share by 2026, driven by the increasing importance attributed to seats given that they mitigate driver discomfort.
Global automotive interior materials market size from passenger cars segment may record 5.5% CAGR through 2026.
Automotive interior materials market size from aftermarket end user segment may record 6.5% CAGR through 2026, driven by the huge presence of small as well as large-scale suppliers.
Asia Pacific may account for 45% of global automotive interior materials market share by 2026, propelled by rapid urbanization and increasing economic development.

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Premium Report Details

  • Published Date: Aug 2020
  • Pages: 200
  • Tables: 303
  • Charts / Figures: 20
  • Companies covered: 15
  • Countries covered: 20

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