Automotive Interior Materials Market Future Challenges and Industry Growth Outlook by 2021-2026

By Ronak Bora

Automotive interior materials market is projected to witness lucrative growth owing to the shifting consumer inclinations towards personalization with customized interior and leather modification. In terms of material, leather upholstery segment is slated to witness more than 3.5% CAGR through the forecast time period owing to its wide usage in premium vehicles. Customization of vehicles is likely to boost the material sales since manufacturers provide numerous customizable leather options in their product portfolios
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In terms of application, the steering wheels segment is likely to witness  around 4.5% CAGR over the forecast time period. Surging number of amenities incorporated on the steering wheel is likely to drive the demand for interior materials from commercial vehicles. Likewise, a large number of aftermarket offerings in steering wheels in the form of grips and covers will support segmental growth.
On the geographical front, automotive interior materials market in North America will account for 15% of the global industry share by the end of the forecast time period. This can be ascribed to the fact that the region houses a well-established automotive industry. The presence of top-class manufacturing facilities along with key automobile manufacturers is largely contributing towards regional automotive industry growth.
The rapidly increasing passenger vehicle sales across the globe, quite overtly, is a major factor expected to increase the demand for automotive interior materials over the coming years. This can be attributed to factors such as rapid urbanization, rising disposable incomes of middle-class individuals, and strong economic development across developed and developing nations. In addition, supportive government initiatives across major Asian countries have further attracted significant investments from prominent automotive manufacturers, which is likely to reinforce automotive manufacturing capabilities over the coming years.
Moreover, surging vehicle customization activities and rise in demand for luxury and sports cars across the region will further drive the requirement for automotive interior materials. Citing an instance, in August 2020, as per reports the next-gen sports cars namely Toyota 86 and Subaru BRZ are soon to enter the automotive market by 2022. With new and advanced features these sports cars expected to be powered by a 260-hp turbocharged flat-four along with a standard six-speed manual transmission.
Hexcel Corporation, Trinseo S.A., Covestro AG, UFP Technologies, BASF SE, Dow Chemical Company, Continental AG, Saudi Basic Industries Corporation (SABIC), Borealis AG Toray Industries, Inc., Evonik Industries AG, Stahl Holdings B.V., Huntsman International, Arkema, and Sumitomo Chemical Company among many others are some of the key players operating in the automotive interior materials market.
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Partial Chapter of the Table of Content
Chapter 5. Automotive Interior Materials Market, By Application
5.1.    Global market application insights
5.2.    Consoles & dashboards
5.2.1. Market estimates and forecasts, 2016 - 2026
5.2.2. Market estimates and forecast, by region, 2016 - 2026
5.3.    Doors
5.3.1. Market estimates and forecasts, 2016 - 2026
5.3.2. Market estimates and forecast, by region, 2016 – 2026
5.4.    Seats
5.4.1. Market estimates and forecasts, 2016 - 2026
5.4.2. Automotive interior materials market estimates and forecast, by region, 2016 – 2026
5.5.    Steering wheels
5.5.1. Market estimates and forecasts, 2016 - 2026
5.5.2. Market estimates and forecast, by region, 2016 – 2026
5.6.    Floor carpets
5.6.1. Market estimates and forecasts, 2016 - 2026
5.6.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 6. Automotive Interior Materials Market, By Vehicle
6.1.    Global market vehicle insights
6.2.    Passenger cars
6.2.1. Market estimates and forecasts, 2016 - 2026
6.2.2. Market estimates and forecast, by region, 2016 - 2026
6.3.    LCV
6.3.1. Market estimates and forecasts, 2016 - 2026
6.3.2. Automotive interior materials market estimates and forecast, by region, 2016 – 2026
6.4.    HCV
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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