The automotive interior materials market size was valued at US$ 55.63 billion in 2022 and is projected to hit around US$ 85.16 billion by 2032, expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2032.
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Automotive interior materials provide an appealing look, improved reliability, and enhanced sustainability for automobiles and hence help manufacturers to upgrade the vehicle performance and interior features. This also help automotive manufacturers in improving automotive cabin features and designs. Furthermore, increasing trend for electric vehicles and autonomous vehicles have prominently boosted the demand for light materials in an automobile. Autonomous and other advanced vehicles are equipped with several advanced technologies that requires multiple ECUs and chips to integrate into the vehicle this increases the overall weight of the vehicle as well as also triggers the need for light-weight materials for vehicle’s body and other parts.
The automotive interior materials are imperative to the vehicle manufacture. Thus, the dynamics of automotive interior materials market are closely dependent on the sale and production of vehicles. Further, the market growth for automotive interior materials is also dependent on the various government regulations for sales of vehicles as well as fuel efficiency. Apart from this, government regulation on leather pricing also plays a significant role in directing the global market value and trend. Internal substitution in the automotive parts particularly in case of leather likely to hamper the market growth. For instance, genuine leather is substituted by fabrics, synthetic PU, or PVC leather and thus the market for genuine leather is hampered in the automotive industry.
| Report Highlights | Details |
| Market Size in 2023 | USD 57.8 Billion |
| Market Size by 2032 | USD 85.16 Billion |
| Growth Rate from 2023 to 2032 | CAGR 4.4% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Material, Vehicle, Application, End-User |
| Key Companies Profiled | Evonik Industries AG, UFP Technologies, Saudi Basic Industries Corporation (SABIC), Arkema, BASF SE, Stahl Holdings B.V. |
Passenger cars captured the largest revenue share of more than 50% in the year 2022 and projected to maintain the same trend over the forecast period. The growth of the segment is mainly attributed to the increasing sale of passenger vehicle coupled with introduction of autonomous and electric vehicles. Apart from above trends, the outbreak of COVID-19 has also played an important role in accelerating the sale of self-owned passenger cars in order to maintain the social distancing. This has impacted the growth of shared mobility, but proliferated the self-owned vehicle trend and hence triggered the sales of passenger cars.
On the other hand, light commercial vehicle witnesses significant growth during the upcoming years owing to rise in e-commerce and retail logistics particularly in the developing nations. The outbreak of corona virus has prominently uplifted the trend for online shopping rather than visiting shops. Hence, accelerated the markets for e-commerce and retail logistics and therefore supports the growth of light commercial vehicle market.
The material type segment is deviced into plastics, composites, leathers, fabrics and others. The plastics segment captured majority of revenue share in the year 2022 because of its favorable capabilities to make a vehicle lighter and more appealing in terms of aesthetics.
The Composite segment is projected to grow at a CAGR of 6% over the forecast period due to increasing demand for lightweight and fuel-efficient vehicles.
Seats application segment leads the global automotive interior materials market and accounted for more than 30% in terms of revenue share by the end of the analysis period. This is mainly because of the significant importance of seats for driver’s as well as passenger’s comfort and convenience. Different physiological and psychological studies on human perception, posture & adjustability, and weight distribution have resulted in the application of various materials for automotive seats. High performance PU foams along with covering materials that include fabric or leather are frequently used in seat cushion manufacturing. Increasing need for light weight materials in seats also trigger the application of carbon fibers and other composites to enhance the level of comfort in modern vehicles.
On the basis of region, the global automotive interior materials market is analyzed for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is the most promising region in terms of revenue growth. This is mainly due to rising urbanization and rapid growth in the purchasing power of people. Further, the region encountered a significant rise in demand for electric vehicles and autonomous cars that again propels the growth of automotive interior materials in the coming years.
Asian countries such as China, India, Japan, ASEAN countries, and many other are the manufacturing hubs for automotive industry. Hence, the consumption of automotive interior materials is comparatively higher in these regions. Further, on-going trend among large automotive players to shift their manufacturing facilities in the Asian countries owing to low labor cost and materials prominently drives the automotive interior materials market in the region.
Key Companies & Market Share Insights
Prominent players in the global automotive interior materials industry experiences intense competition owing to the presence of large number of players on the global scale. Further, the inorganic strategies adopted by these players such as value chain optimization, new product launch, geographic expansion, research & development for expanding their product portfolio, and many others.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2032. For the purpose of this study, Precedence Research has segmented the global automotive interior materials market report on the basis of material, vehicle, application, end-users, and region:
By Material Outlook
By Vehicle Outlook
By Application Outlook
By End-users Outlook
By Regional Outlook
North America
Europe
Asia Pacific
Rest of the World
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