Automotive Interior Materials Market Outlook and Analysis 20242031
On the back of growing concerns about environmental health and higher vehicle performance expectations, the automotive sector has been adopting eco-friendly and sustainable materials for vehicle interiors. The main aim is the reduction of vehicle weight, leading to the exploration and integration of advanced materials that can eventually support the reduction of carbon emissions while improving vehicle performance.
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Impact of Stringent Automotive Norms on Material Adoption
Owing to stringent norms in the automotive sector, such as the Corporate Average Fuel Economy (CAFE) standards, automakers are increasingly adopting lightweight materials such as composites, fabrics, and plastics in vehicles. For instance, according to the 2025 CAFE standards in developed economies in North America, car makers are expected to deliver a fleet average of a minimum of 54.5 miles per gallon (mpg). Additionally, growing awareness along with trending PETA (People for the Ethical Treatment of Animals) regulations concerning the use of natural leather is fueling demand for lightweight and synthetic leather materials in the industry, contributing to market growth.
Customization and Comfort to Augur Well for Automotive Interior Materials Market
The increasing trend of travel tourism and the demand for working during travel have resulted in a growing demand for affordable vehicles and comfortable interiors among individuals. This has translated into increased consumer expectations regarding vehicle interior designs that deliver both aesthetic appeal and enhanced comfort. Furthermore, pervasive technological advances have made it possible to customize vehicle interiors for better feel and comfort. Manufacturers are also including eco-friendly materials due to rising awareness regarding consumer health. These aspects remain instrumental in driving sales of automotive interior materials, thereby complementing market growth.
Use of Bioplastics to Reshape Automotive Interior Materials Market
The use of plastics in the automotive sector for various exterior, interior, and under-the-hood applications has been rising due to advantages such as flexibility, reduced weight, and better design possibilities. However, with fossil fuels being a dwindling source for plastics, the automotive sector is shifting towards the adoption of bio-based plastics to ensure enhanced performance with reduced vehicle weight. Moreover, environmental concerns, pressure from private and public organizations, and stringent regulations for reducing greenhouse gas (GHG) emissions are pushing automobile manufacturers to research, develop, and adopt ecofriendly plastic materials for their latest models. In this context, various bioplastics such as Bio-PA (Biopolyamides), PLA (Polylactic Acid), and bio-based polypropylene (Bio-PP) are being adopted in applications such as bumper manufacturing, mats, body panels, tires, air ducts, dashboards, brake noses, and door pockets. This trend is likely to positively disrupt the market in the coming years.
Growing Veganism and Its Impact on Automotive Interior Materials Market
The growing trend of veganism is also impacting the automotive interior materials market. Automobile manufacturers are including vegan leather in vehicle interiors to meet the growing consumer demand. For instance, in 2019, Volkswagen launched “ID Roomzz,” an electric vehicle featuring interiors made using apple leather. The growing vegan trend is likely to have a significant impact on the market in the coming years.
Growing Polymer Demand to Significantly Contribute Towards Market Valuation
The use of polymers in automotive interiors has been rising and is expected to grow at a significant rate in the coming years. These are usually thermoplastics with a multiphase composition; they become hard at room temperature, turn fluid after applying heat, and form an ideal mold. Upon cooling, they also form a smooth and hard finish, enhancing aesthetics. Thermoplastic polymers are adopted in various exterior and interior applications in the automotive sector due to their lightweight, high durability, and flexibility, consequently improving vehicle performance. The increasing demand for polymers in the automotive sector is expected to largely contribute to the valuation of the automotive interior materials market.
Asia Pacific Likely to Showcase High Market Attractiveness
Emerging economies in Asia Pacific, such as China and India, are expected to reflect lucrative growth potential for the automotive interior materials market. This is mainly attributed to increasing manufacturing and sales of passenger and commercial vehicles across nations, coupled with growing penetration of electric vehicles in Asia Pacific. Additionally, the region offers a business-friendly environment and is considered a manufacturing hub with growing research and development facilities, along with industrial growth and urbanization. These macro aspects continue to influence the growth of the automotive interior materials market in the region.
Competitive Landscape of Automotive Interior Materials Market
Key players in the automotive interior materials market are focusing on growth strategies such as mergers and acquisitions to enhance their portfolio and improve market position. For instance, in 2020, Sage Automotive Interiors acquired Adient Plc’s automotive interior fabric
business. Similarly, in January 2020, Faurecia acquired SAS, a major player in the logistics and complex assembly of interior modules.
Some of the major players in the automotive interior materials market include Faurecia S.A., Lear Corporation, Toyota Boshoku Corporation, Yanfeng Automotive Interiors, Adient Plc, DuPont, Grupo Antolin, and Seiren Co. Ltd.
In conclusion, the automotive interior materials market is poised for significant growth, driven by stringent environmental norms, rising consumer demand for comfort and customization, and the increasing adoption of eco-friendly and advanced materials. Emerging trends in bioplastics and vegan materials are also set to positively impact the market landscape, with key players continuously innovating and expanding their portfolios to maintain a competitive edge.