Automotive Interior Materials Market Worth $54.8 Billion by 2026
CHICAGO, March 10, 2022 /PRNewswire/ — According to new market research report “automotive interior materials market by type (polymer, genuine leather, fabric, synthetic leather), vehicle type, application (dashboard, door panel, seats, floor mats) and region (APAC, Europe, North AmericaMEA, South America) – Global Forecast to 2026″published by MarketsandMarkets™, the Automotive Interior Materials market size is estimated at $48.1 billion in 2021 and is expected to reach $54.8 billion by 2026, at a CAGR of 2.6% between 2021 and 2026.
Automotive interior materials are used inside an automobile. Fabric, genuine leather, polymers and synthetic leather are some of the materials used in the interiors. These materials must be of high quality, as they are used to enhance the look and comfort of a vehicle’s interiors. The efficiency of a vehicle depends on its weight. Lightweight automotive interior materials can help reduce the overall weight of an automobile. Several automakers are looking for innovative, lightweight automotive interior materials to reduce weight, which increases vehicle efficiency by reducing fuel consumption.
Polymer is the largest type segment of the automotive interior materials market. Passenger cars constitute the largest type segment of the automotive interior materials market. The door panel was the largest application segment of the automotive interior materials market. Asia Pacific was the largest market for automotive interior materials in 2020, by value. This can be attributed to the rapid increase in automotive component manufacturing facilities in countries such as China and India, due to the availability of raw materials and cheap labor. Several R&D activities have also been carried out in Asia Pacific to reduce the weight of interior materials used in automobiles.
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“Polymers segment is expected to be the fastest growing type for automotive interior materials market between 2021 and 2026”
The polymers used in the automotive interior are generally thermoplastics which are multi-phase compositions in which one phase is made of a material that is hard at room temperature and fluid when heated, and the other phase is made of a material soft, rubbery elastomer at room temperature. These are plastic materials that soften on heating to form a perfect mould. As they cool, they take on a new shape with a smooth yet hard finish. Thermoplastic polymers are used for various interior and exterior components in the automotive industry. These polymers help OEMs make interior components lightweight and durable. Some of the polymers used in automotive interiors are PP, PU, PVC and others. These polymers are lightweight, making vehicles more fuel efficient.
“The passenger car segment is expected to be the fastest growing vehicle type for the automotive interior materials market between 2021 and 2026.”
Passenger vehicles include all vehicles that are used for the transport of passengers. Personal cars, wagons, hatchbacks, sedans, SUVs, MUVs, station wagons, vans, pickups, and other vehicles for personal use are considered under this segment. These vehicles can carry from one to eight people depending on their type. The technologies used in this type of vehicle change frequently due to high consumer demand for luxurious and practical features. Passenger vehicle manufacturers are emphasizing on producing vehicles that would provide utmost safety and exquisite ride quality to passengers, as safety and luxury are important factors considered when purchasing a passenger vehicle. a vehicle. Rising living standards in emerging economies and shifting production facilities of various manufacturers to these regions are the factors that are propelling the use of automotive interior materials in passenger vehicles.
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“Dashboard is expected to be the fastest growing application in the automotive interior materials market between 2021 and 2026.”
A dashboard is one of the most important parts of an automobile from an aesthetic and functional point of view. Different types of materials are used for making a dashboard. Most plastics are used because of their light weight and ease of molding. Polypropylene is the most widely used material due to characteristics such as opacity and aphonia. Polyurethane is also a popular material because it absorbs shock well. ABS is used for its rubber properties, weather and chemical resistance and impact resistance. It also gives a glossy look to the surface of the dashboard. Natural fiber composites are sometimes used to make dashboards.
“Asia-Pacific is expected to be the fastest growing region for automotive interior materials market over the forecast period”
Asia Pacific is the fastest growing region in the automotive interior materials market owing to the region’s rapid economic growth. These factors play a significant role in driving the automotive interior materials market. The developed countries of Asia Pacific are home to the world’s leading automakers. This region not only serves as a manufacturing hub, but also has key R&D facilities. The automotive industry in developing countries Asia Pacific is expected to grow due to improving economic conditions as well as a booming manufacturing sector. The market in North America is expected to grow at a moderate pace over the forecast period owing to the shift of manufacturing bases to developing countries. However, the growing demand for luxury vehicles in the region will drive the need for automotive interior materials.
Major market players profiled in the report are Lear Corporation (USA), Asahi Kasei Corporation (Japan), Toyota Boshoku Corporation (Japan), Faurecia (France), Toyoda Gosei Co., Ltd. (Japan), Antolin Group (Spain), Yanfeng Automotive Interiors (YFAI) (China), Seiren Co. Ltd. (Japan), DK Leather Corporation Berhad (Malaysia) and the DRAXLMIER group (Germany). They have adopted strategies such as new product launches, acquisition, and collaboration in order to gain an advantage over their competitors.
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1. AUTOMOTIVE PLASTICS MARKET – GLOBAL FORECAST TO 2026
By type (PP, PU, PVC, PA), application (interior, exterior, underhood), vehicle type (conventional cars, electric cars) and geography
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