The Global Automotive Interior Materials Market size was valued to USD 102.19 billion with a volumetric sale of 23,270 kilotons in 2019, and is predicted to reach USD 189.78 billion with a booming sale of 35,058 kilotons by 2030, with a respective CAGR of 5.7% and 3.7% from 2020-2030.
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Top Companies: Benecke-Kaliko AG, BASF SE, Borgers SE & Co. KGaA, DK-Schweizer Co., Ltd., Dow Chemical Company, E.I. du Pont de Nemours & Co., Eagle Ottawa LLC, Johnson Controls, Inc., Faurecia Automotive GmBh., Katzkin Leather, Inc., Sage Automotive Interiors, Inc. and others.
Market Dynamics and Trends
The automotive interior materials market is observing lucrative opportunities owing to existing market trends regarding totally-flexible interiors, growing demand for premium vehicles with luxurious automotive interior, fully automatic positioning of components, selective air-bags, crash controls to enhance the safety of drivers as well as wide-range of customizable options open for the customers.
Besides, factors such as evolving concept of low-emission light weight automotive interiors, stringent regulations regarding fuel-economy, increasing disposable incomes at global level, increasing customer preferences for leather-lining in vehicle interiors as well as inclination of manufacturers towards eco-friendly components in-order to reduce their carbon footprints, are anticipated in fostering growth of the automotive interior materials market throughout the forecast period.
However, growth in trade war, increase in automotive import tariffs, lack of efficient recycling processes and fluctuating prices of raw materials can create demand supply gap which affects the production and inhibit the growth of automotive interior materials market.
Moreover, innovative automotive designs, advanced technological developments adopted by market players, low-cost higher sustainability products with increased efficiency and enhanced quality are paving the way for new opportunities in the global automotive interior materials market in future.
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North America is expected to dominate the global automotive interior materials market, accounting for the highest market shares. This is attributable to factors such as rapidly increasing GDP and high employment rate in this region. Moreover, increasing demand for electric vehicles is expected to drive the growth of the automotive interior materials market throughout the forecast period. Asia Pacific is expected to show rapid growth with constant development in the market share due to growing demand for premium segment vehicles with luxurious automotive interiors. Furthermore, rapidly increasing per-capita disposable income coupled with increased demand of durable and lightweight materials are also expected to support the growth of automotive interior materials market.
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