Automotive Interior Material Market Size is projected to reach USD 80.08 billion by 2031, growing at a CAGR of 4%: Straits Research

New York, United States, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Automotive interior materials include plastics, leather, steering wheels, seatbelts, airbags, and roof and floor coverings. Every part of the car's interior serves a function and contributes to the quality of the ride. The increasing market share of electric and autonomous vehicles has also boosted the demand for lightweight building materials. Many electronic control units (ECUs) and chips are required for advanced features like autonomous driving or electric propulsion. The vehicle's overall weight increases and lightweight materials are needed for the body and other parts. These additions enhance the cabin's aesthetic and significantly impact buyers' final decisions.

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Increased Demand for Customization and Comfort Drives the Global Market

As more and more people get behind the wheel, the number of affordable vehicles on the market has increased dramatically in recent years. Because of this, the demand for cars with comfortable and aesthetically pleasing interiors has increased. The need for customization and technological advancements are driving the market for automotive interior materials. As a result, businesses today offer a variety of customization options to allow for the creation of modern interiors. In addition, the growing concern for health among consumers is driving the innovation of healthier, more breathable materials for use in the interior of vehicles. These factors are driving up the demand for automotive interior components.

The Adoption of Green Technology in Automotive Leather Manufacturing Creates Tremendous Opportunities

Tanneries are crucial in tanning, yet they also generate the most waste. Chromium and aluminum chlorides, potassium and aluminum sutates, and zirconium sulphates are some of the metals used. As a result, businesses have turned to green chemistry to produce less toxic and more easily manageable chemicals. Some methods, such as tanning skins with glutaraldehyde in the presence of artificial d-AA like d-alanine or d-lysine, have exceptionally durable leather because of the bridging effect of the amino acids' carboxylic and amine groups. The wastewater generated by the method described here is safe for treatment plants to process and dispose of because no toxic tanning agents are used.

Report Scope

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Regional Analysis

Asia-Pacific is the most significant shareholder in the global automotive interior material market and is expected to grow during the forecast period. That's because fast-growing economies like China and India hold great promise for the future of the automotive industry. An increase in the need to transport primary materials, workers, and consumer goods has led to a rise in the sales of both passenger and commercial vehicles in these regions, increasing the demand for interior components. Government support in the form of subsidies and favorable regulations is expected to encourage automotive manufacturers to establish local production facilities in the APAC region, which will, in turn, boost the region's market for automotive interior materials.

North America is expected to grow during the forecast period. Consumers' desire for luxurious interiors and additional safety features are significant. Safety mandates and regulations in the country have prompted automakers to equip their vehicles with lifesaving safety equipment like airbags and seatbelts. As a result of rising demand for passenger vehicles, consistent technological advancements, and the relatively low cost of premium options, the market for automotive interior materials in North America is more developed than in other regions. The high prevalence of private automobile use in North America bodes well for the region's market, as this sector is used extensively for commuter purposes. Demand is predicted to skyrocket as a result of stringent fuel economy standards.

The demand for automotive interior materials is predicted to increase significantly as the automotive and manufacturing sectors in the European Union grow. The need for automotive interior materials is expected to increase in the coming years due to the push from these industries for greater automation and digitization in Europe's manufacturing ecosystem. Because of the premium Europeans place on car interiors, manufacturers in the region are free to explore and promote novel applications for these components.

As countries like Egypt, South Africa, Nigeria, and Iran see robust and consistent sales growth in the automotive industry over the next few years, the region of the Middle East and North Africa (MENA) is forecasted to increase the production of automobiles. The increasing demand for heavy commercial vehicles brought on by the region's swift infrastructural development bodes well for the MEA market for automotive interior materials. The presence of developing economies like Africa and the increasing need for industrial development have both contributed to LAMEA's booming market for automotive interior materials.

Key Highlights

• The global automotive interior material market size was valued at USD 56.26 billion in 2022. It is projected to reach USD 80.08 billion by 2031, growing at a CAGR of 4% during the forecast period (2023–2031).
• Based on product, the global automotive interior material market is bifurcated into leather, composites, metals, fabrics, and plastic. The plastic segment is the highest contributor to the market and is expected to grow during the forecast period.
• Based on application, the global automotive interior material market is bifurcated into dashboards, seats, airbags & seatbelts, carpets & headliners, and others. The plastic segment is the highest contributor to the market and is expected to grow during the forecast period.
• Based on vehicle type, the global automotive interior material market is bifurcated into passenger and commercial vehicles. The passenger segment is the highest contributor to the market and is expected to grow during the forecast period.
• Asia-Pacific is the most significant shareholder in the global automotive interior material market and is expected to grow during the forecast period.

The global automotive interior material market’s major key players are

• Toyota Boshoku Corporation
• Toyoda Gosei Co., Ltd
• Lear Corporation (U.S.)
• Adientplc (Ireland)
• Faurecia S.A. (France)
• Sage Automotive Interiors Inc
• Grupo Antolin
• Delphi Automotive Plc Grammer AG
• Bayerische Motoren Werke AG

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Global Automotive Interior Material Market: Segmentation

By Product

• Leather
• Composite
• Metals
• Fabrics
• Plastic

By Application

• Dashboard
• Seats
• Airbags & Seatbelts
• Carpets & Headliners
• Others

By Vehicle Type

• Passenger Vehicles
• Commercial Vehicles

By Regions

• North America
• Europe
• Asia-Pacific

• LAMEA

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Automotive Interior Material Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Product Overview
   1. Introduction
      1. Market Size & Forecast
   2. Leather
      1. Market Size & Forecast
   3. Composite
      1. Market Size & Forecast
5. Application Overview
   1. Introduction
      1. Market Size & Forecast
   2. Dashboard
      1. Market Size & Forecast
   3. Seats
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Product
         2. By Application
      3. Canada
         1. By Product
         2. By Application
      4. Mexico
         1. By Product
         2. By Application
      5. Latin America
         1. By Product
         2. By Application
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Product
         2. By Application
      3. France
         1. By Product
         2. By Application
      4. U.K.
         1. By Product
         2. By Application
      5. Italy
         1. By Product
         2. By Application
      6. Spain
         1. By Product
         2. By Application
      7. Rest of Europe
         1. By Product
         2. By Application
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Product
         2. By Application
      3. China
         1. By Product
         2. By Application
      4. Australia
         1. By Product
         2. By Application
      5. India
         1. By Product
         2. By Application
      6. South Korea
         1. By Product
         2. By Application
      7. Rest of Asia-Pacific
         1. By Product
         2. By Application
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Product
         2. By Application
      3. South Africa
         1. By Product
         2. By Application
      4. Kuwait
         1. By Product
         2. By Application
      5. Rest of Middle East & Africa
         1. By Product
         2. By Application
7. Company Profile
   1. Toyota Boshoku Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. Toyoda Gosei Co., Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. Lear Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
8. Conclusion & Recommendation
9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/automotive-interior-material-market/toc

Market News

• In January 2022, the new LEXUS LX from Toyota Motor Corporation features seats and door trims developed by Toyota Boshoku Corporation.
• In September 2022, Toyota Gosei Commercializes Cellulose Nano fiber-Reinforced Plastic for Vehicle Components.

News Media

Stringent Safety Policies in Europe are Projected to Fuel the Automotive Interior Material Market

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