The global automotive interior materials market is expected to experience significant growth in the coming years, reaching a projected size of USD 59.42 billion by 2030. This growth is primarily driven by the increasing demand for high-end automobile interiors worldwide. Consumers are placing greater importance on premium interiors that offer both aesthetic appeal and a superior tactile experience, even in non-premium vehicles. As a result, market players are investing in material innovation to meet these evolving consumer preferences.

One notable example of such investment is Volvo's research and development center in Shanghai, China. The center is actively engaged in developing new designs that give Volvo a technological edge over its competitors. This demonstrates the industry's commitment to staying at the forefront of interior material advancements.

Additionally, the rise in disposable income, particularly in emerging countries like Brazil, China, and India, has contributed to the growing demand for vehicles. As more consumers in these regions can afford cars, there is a subsequent increase in the demand for automotive interior materials to enhance the overall driving experience.

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Government regulations focused on vehicle safety, carbon emission reduction, and lightweight vehicles are driving significant changes in the automotive industry. Original Equipment Manufacturers (OEMs) are now required to enhance safety features in vehicles and utilize materials that contribute to overall weight reduction.

According to the Environmental Protection Agency (EPA), for every 100 pounds removed from a vehicle, fuel economy can be increased by 1% to 2%. This fuel efficiency improvement can be achieved by using lighter interior materials and making upholstery more flexible. By replacing heavier plastic materials with lighter alternatives, automakers can reduce the overall weight of vehicles while still meeting safety standards.

As a result, there is a growing emphasis on adopting sophisticated interior materials that not only enhance the aesthetics and comfort of the vehicle but also contribute to weight reduction. These materials may include advanced composites, lightweight metals, and innovative textiles that offer durability, safety, and weight-saving properties.

By incorporating these sophisticated interior materials, automakers can improve fuel efficiency, reduce carbon emissions, and comply with stringent government regulations. Additionally, lightweight materials can also positively impact vehicle performance, handling, and overall driving experience.

In conclusion, the introduction of government regulations for vehicle safety, carbon emission reduction, and lightweight vehicles is compelling automakers to prioritize the use of improved safety features and lightweight interior materials. These materials not only aid in weight reduction but also help maintain vehicle safety standards and increase fuel efficiency, ultimately aligning with the industry's commitment to sustainability and technological advancements.

Interior Material Type Outlook (Revenue, USD Billion; 2019-2030)

• Leather
• Fabrics Materials
• Fabrics
• Plastics
• Metals
• Others

Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Class Outlook (Revenue, USD Billion; 2019-2030)

• Luxury
• Mediocre
• Economy

Application Outlook (Revenue, USD Billion; 2019-2030)

• Door Panel & Trims
• Dashboard
• Seats
• Roof Paddings
• Airbags & Seatbelts
• Carpets & Floor Mats
• Others

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Some Key Highlights From the Report

• Plastics segment is expected to register a considerable revenue growth rate over the forecast period, because of its optimum durability and ruggedness. Plastic is the most widely utilized material as automobile interior material in several applications like interior panels, dashboards, seats, and interior trim.
• Passenger vehicles segment is expected to account for the largest revenue share in the automotive interior materials market over the forecast period. The segment revenue growth has benefited from an increase in consumer willingness to spend on high-quality, long-lasting products. This has prompted manufacturers to develop innovative products offering high-end features at low costs. Rising demand for personal vehicles in emerging markets, as well as a growing desire for safe and comfortable travel, are expected to drive demand for passenger vehicles, and in turn, automotive interior materials.

• Market in Asia-Pacific is expected to register highest revenue share in the global automotive interior materials market during the forecast period. The small/economy car segment, which accounts for higher adoption of interior components, drives the Asia-Pacific automotive interior materials. Leading automakers in this region, including Honda, Toyota, and Hyundai, are embracing the advantages of advanced seating systems, electronics, lighting, and various safety systems, making them standard features across vehicle models. The rise in demand for electric vehicles in major economies such as Japan, China, and India is adding to market revenue growth. Demand for comfortable, premium interiors, and new and innovative features, like head-up displays and navigation systems, along with the growing focus toward sufficing safety standards, is driving the demand for automotive interior materials in the region.

• In March 2020, Sage Automotive Interiors entered into an agreement to acquire the automotive fabric business of Adient plc. Sage Automotive Interiors will be paying around USD 175 million for Adient’s automotive fabric business.

Major Regions Highlighted in the Global Automotive Fabrics Materials Market Report:

·       North America

o   U.S.

o   Canada

o   Mexico

·       Europe

o   Germany

o   U.K.

o   Italy

o   France

o   BENELUX

o   Rest of Europe

·       Asia Pacific

o   China

o   India

o   Japan

o   South Korea

o   Rest of Asia Pacific

·       Latin America

o   Brazil

o   Rest of Latin America

·       Middle East & Africa

o   Saudi Arabia

o   U.A.E.

o   South Africa

o   Rest of Middle East & Africa

Top Companies Profiled in the Report:

Toyota Boshoku Corporation, Lear Corporation, Toyoda Gosei Co., Ltd., Adient plc, Faurecia SE, Grupo Antolín, Sage Automotive Interiors, Yanfeng Automotive Interior Systems Co., Ltd., SMS Auto Fabrics, and Dräxlmaier Group.

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