The global Automotive Interior Materials Market was valued at USD 56.26 billion in 2022, according to the report, Global Automotive Interior Materials Market by Material Type(Synthetic Leather, Pure Leather, Fabrics, and Thermoplastic Polymers), by Vehicle Type (Heavy and Light Commercial Vehicles), and by Component (Steering Covers, Seat Covers, Interior Roofing. The automotive interior materials market is expected to exhibit a CAGR of 4% during the forecast period (2023 - 2030)
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Browse 100 market data tables* and 80 figures* on "Automotive Interior Materials Market” - Global forecast to 2030.
Key Trends and Analysis of the Automotive Interior Materials Market:
- Synthetic or faux leather is composed of polyurethane or poly vinyl chloride, which is similar in appearance to pure leather. It is majorly used due to its cost effective properties, which allow automobile manufacturers to provide pure leather-like interiors at low cost. Pure leather due to its high cost is mostly deployed in premium cars only. For instance, automakers such as BMW, Audi, Rolls Royce, and Mercedes utilize pure leather in high-end vehicles. Furthermore, these fabrics are majorly used in economy passenger cars due to minimal cost of installation and procurement. Thermoplastic polymers provide superior aesthetic characteristics at a low cost. The quality of interior is not as good as leather due to which it is mostly deployed in commercial vehicles and non-premium passenger cars.
Key Takeaways of the Market:
- The U.S. government’s decision to renegotiate North American Free Trade Agreement (NAFTA) has threatened the sales of cars made in the U.S. According to the Mexican Statistical Institute, automotive industry accounted for 3.5% of Mexico’s GDP in 2022. The number is expected to fall in the forecast period if NAFTA renegotiation goes ahead as planned. the automotive interior materials market in North America was valued at USD 56.26 billion in 2022.
Mexico - Automotive Industry - International Trade Administrationhttps://www.trade.gov ›
- The growth in automotive manufacturing industries in South Africa, Nigeria, Egypt, and Ethiopia are expected to propel the market growth. The african Association of Automotive Manufacturers (AAAM) formed in 2015 will help local government bodies and manufacturers to achieve synergy and work toward the growth of automotive interior materials market in Africa.
- Global automotive interior materials market is extremely competitive and consolidated with the presence of large players accounting for major shares. Key players in the market include BASF SE., Eagle Ottawa, Borgers A.G., Faurecia S.A, Adient Plc., Lear Corporation, Dow Chemical Company, and DK Leather Corporation Berhad. Some of the major strategies adopted by these players to ensure long-term sustenance in the market include product and packaging innovations, tactical mergers and acquisitions, and joint ventures.
