Automotive Interior Material Market Research Report: Information By Type (Synthetic Leather, Fabric, Thermoplastic Polymer, Leather and others), By Vehicle Type (Passenger and Commercial Vehicle) - Forecast till 2027

Automotive Interior Material Market Analysis

Global Automotive Interior Material Market will develop at a 7.11% CAGR between 2019- 2025, reveals the current Market Research Future (MRFR) report. The strong global automotive interior material market size is due to the growing demand for better car aesthetics by car owners.

COVID-19 Analysis 

The COVID-19 pandemic is an on-going global situation. Apart from the human tragedy, this crisis has also severely impacted industries and economies across the globe, which also includes the auto industry. This on-going outbreak has resulted in a disruption in the supply chain across the auto sector. There has been a temporary suspension in international trade in different countries, thus having a negative effect on the automotive interior material market value. Besides, governments in a good number of countries have imposed restrictions on the mobility of citizens and a temporary halt of production facilities in key industries as preventive measures. With a good number of industries like logistics and steel depending largely on the auto sector, the dip in the sales of cars owing to the crisis is making a rippling effect. Even after the reopening of businesses, social and physical distancing will continue, thus the automotive industry will have to adapt to novel ways of working. Parts suppliers and OEMs have yet to return to complete production capacity. Constant delays in delivery may impact the market at several levels, from dampened vehicle sales, financially drained SMEs, shattered supply chains, and new car model launches. All these are likely to affect the automotive interior material market growth.

Competitive Landscape 

Global Automotive Interior Material Market is highly competitive and fragmented in nature with the presence of an array of market players. Industry players have encompassed several strategies to widen their portfolio and also strengthen their position in the market, such as partnerships, extensive research & development activities, mergers and acquisitions, strategic alliances, and others.

Key Players 

Prominent players profiled in the global automotive interior material market report include NTF Private Limited (India), Sage Automotive Interior Materials Inc. (US), BASF SE (Germany), Faurecia S.A. (France), Toyoda Gosei Co., Ltd (Japan), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Johnson Controls (US), among others.

Market Dynamics

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  Drivers

  
  

Demand for Premium Automotive Interiors to Bolster Market Growth 

The worldwide demand for premium automotive interiors is likely to bolster the automotive interior material market revenue over the forecast period. The need for premium grade interiors having tactile experience and superior aesthetic appeal for non-premium cars from consumers is also increasing.

Additional factors adding to the automotive interior material market share include the growing automotive industry in various emerging regions, the rapid growth of passenger cars, changes in consumer lifestyle, and the need for lightweight vehicles.

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  Opportunities

  
  

Developing Electric Vehicles Market to Offer Robust Opportunities 

The rapidly developing electric vehicles market is likely to offer robust opportunities to market players in the upcoming days. The demand for e-vehicles is on the rise owing to the fast depleting fossil resources and rising environmental concerns. These cars are mostly made of plastic and other forms of light-weight materials to reduce recharge timings and offer better fuel efficiency. This is likely to have a positive impact on the automotive interior components market growth.

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  Restraints

  
  

Volatility in Raw Material Prices to Act as a Market Restraint

The high volatility in the raw material prices may act as a market restraint over the forecast period.

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  Challenges

  
  

High Maintenance Cost to Act as a Market Challenge

The high cost that is involved in maintaining automotive interiors may act as a major market challenge for key players in the upcoming days.

Market Segmentation

Global Automotive Interior Material Market has been segmented based on Vehicle Type and Type.

Synthetic Leather Segment to Lead Automotive Interior Material Market 

By type, the global automotive interior material market is segmented into leather, thermoplastic polymer, fabrics, and synthetic leather. Of these, the synthetic leather segment will lead the market over the forecast period and at the highest CAGR. Synthetic leather is a cost-effective alternative to leather; thus its demand is growing.

Passenger Vehicle Segment to Dominate Automotive Interior Material Market 

By application, the global automotive interior material market is segmented into commercial vehicles and passenger cars. Of these, the passenger vehicle segment will dominate the market over the forecast period for the rise in individual income levels as well as the growing use of fabric material in these cars like cars and SUVs.

Regional Analysis

APAC to Remain Forerunner in Automotive Interior Material Market 

Geographically, the global automotive interior material market is segmented into North America, the Asia Pacific (APAC), Europe, and Rest of the World (RoW). Of these, the APAC region will be the forerunner in the market over the forecast period. Growing demand for cars due to mounting population in India and China, favorable government initiatives, regulations related in improving countermeasures and crash performance for keeping passengers safe, launch of high-end interiors in entry-level cars, robust economic development, increasing spending power of the middle-class populace, rising urbanization and robust economic development are adding to the global automotive interior material market growth in the region. Besides, the presence of a strong automotive industry in Thailand, Japan, South Korea, India, and China, and the increasing adoption and sales of e-vehicles are adding to the global automotive interior material market growth in the region.

North America to Have Moderate Growth in Automotive Interior Material Market 

The global automotive interior material market in North America is predicted to have moderate growth over the forecast period. The steadily improving automotive industry, the growing adoption of electric cars, growing need for passenger cars, the economic feasibility of premium options, frequent technological advancements, and widespread dependence on cars for personal transportation are adding to the global automotive interior material industry growth in the region. Besides, strict standards related to fuel economy, constant technological development, and economic feasibility are also adding market growth.

Europe to Have Healthy Growth in Automotive Interior Material Market 

The global automotive interior material market in Europe is predicted to have healthy growth over the forecast period. The increasing focus of manufacturers and government on the “European Way of Future Mobility”, the growing popularity of electric vehicles, and the importance of automotive interiors for European consumers that has empowered manufacturers in innovating and marketing an array of applications are adding to the global automotive interior material market growth in the region.

Recent Developments

• January 2021- Maruti’s biggest car Maruti Ciaz 2022, will soon be launched with a few updates, especially with regards to the interior. The interiors are predicted a major overhaul with some changes in the color scheme. 


• January 2021- Volvo’s Polestar 2 blends luxury and innovation for an auto experience that is totally unique. Its best feature is the interiors are vegan, that is, they are made of eco-friendly, modern materials that are inspired by the sporty feel and look of wetsuits. This means they are ultra-modern, smooth, and durable. People can choose from three different color schemes- Barley, Charcoal, and Slate based on neutral and muted tones. The car also comes with a steering wheel that is leather-free, having a matte, clean finish.

Report Scope 

Global Automotive Interior Material Market report by Market Research Future throws light on the current trends and niches in the industry. The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period. It also throws light on the different market segments for a comprehensive understanding of the reader.

By Type

• Synthetic Leather 


• Fabrics


• Thermoplastic Polymer 


• Leather

By Application 

• Passenger Cars


• Commercial Vehicle

By Region 

• North America 


• Europe 


• The Asia Pacific 


• Rest of the World (RoW)

Report Scope:

Report Attribute/Metric	Details
Market Size	2027: USD 149.6 Billion
CAGR	7.11% CAGR (2020-2027)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, Vehicle Type
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	NTF Private Limited (India), Sage Automotive Interior Materials Inc. (US), BASF SE (Germany), Faurecia S.A. (France), Toyoda Gosei Co., Ltd (Japan), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Johnson Controls (US)
Key Market Opportunities	Rapidly developing electric vehicles market is likely to offer robust opportunities Demand for e-vehicles is on the rise owing to the fast depleting fossil resources and rising environmental concerns These cars are mostly made of plastic and other forms of light-weight materials to reduce recharge timings and offer better fuel efficiency
Key Market Drivers	Demand for premium automotive interiors Need for premium grade interiors having tactile experience and superior aesthetic appeal for non-premium cars from consumers is also increasing Rapid growth of passenger cars, changes in consumer lifestyle, and the need for lightweight vehicles

Frequently Asked Questions (FAQ) :

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