The automotive interior materials market size is anticipated to surpass $27 billion by 2026. Despite the adverse impact of the ongoing COVID-19 pandemic on passenger vehicle sales, the auto industry is likely to witness significant recovery prospects in recent months, following the gradual easing of lockdown measures. For instance, studies suggest that major carmakers in India recorded sales of over 1,97,523 units in July 2020, which represented a rise of nearly 69% over the sales of June 2020. This recovery, alongside economic advancement, rising disposable incomes among the middle-class populations in emerging and developed economies, as well as rapid urbanization are likely to foster automotive interior materials industry trends over the forecast spell.

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Automotive interior materials market is likely to witness exponential growth over the forecast time period owing to the increase in demand for automobiles. This may be credited to the increasing consumer disposable incomes and rising purchase parity, which is making automobile sales more commonplace than ever before. In consequence, automakers have been working toward enhancing automotive interiors, and have been engaged in several strategic measures, which is expected to stimulate market growth in the years to come.

The automotive interior materials market from the leather upholstery segment is projected to depict a sizeable CAGR of over 3.5% through 2026. Leather upholstery is used largely in premium vehicles and can be combined with various other car interior material options. Market development from this segment is attributed mainly to the growing preference for vehicle customization, which is likely to drive up the demand for materials such as customizable leather, among others.

Customers are becoming increasingly more inclined to customizing their car interiors with leather modifications. This is mainly due to the feeling of affluence associated with leather interiors, given its high price points.

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.

Based on vehicle, demand for car interior materials from the HVC sector is also likely to observe a positive growth trajectory over the foreseeable future. This growth is ascribed mainly to the vast array of amenities and operational abilities demonstrated by the materials in commercial vehicle applications.

On the regional front, the North America automotive interior materials market held a share of over 15%, as a result of the strong automotive presence in the region. Likewise, the presence of key auto industry players, alongside sophisticated vehicle manufacturing facilities will aid regional market growth.

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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Data Tables

TABLE 1    Automotive interior materials industry 360° synopsis, 2016 – 2026

TABLE 2    Global automotive interior materials market estimates & forecast (Kilo Tons) (USD Million), 2016 - 2026

TABLE 3    Global automotive interior materials industry volume estimates & forecast by materials, (Kilo Tons), 2016 – 2026

TABLE 4    Global automotive interior materials industry revenue estimates & forecast by materials, (USD Million), 2016 – 2026

TABLE 5    Global automotive interior materials market volume estimates & forecast by application, (Kilo Tons), 2016 – 2026

TABLE 6    Global automotive interior materials industry revenue estimates & forecast by application, (USD Million), 2016 – 2026

TABLE 7    Global automotive interior materials industry volume estimates & forecast by vehicles, (Kilo Tons), 2016 – 2026

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