Automotive interior materials market is anticipated to grow at a CAGR of 4.1% during the forecast period. The rise in the adoption of strategies such as partnerships, collaborations, and mergers, among others by several companies across the globe is the major factor driving the growth of the market. For instance, in January 2019, Lear Corp. partnered with Gentherm, a developer of innovative thermal management technologies. The merger aimed to drive the future of passenger thermal seating solutions, as it optimizes the heating and air conditioning system in the vehicle. The company focused on designing and engineering the internal cabin with technologies that offers comfort and wellness to consumers.  

Additionally, in August 2020, Lear Corp and Gentherm in collaboration launched INTU thermal comfort with ClimateSense technology, the brand new solution in intelligent seating. The product offers a personal climate through its intelligent software and delivers passenger comfort by automatically adjusting the temperature based on consumer preferences and profiles. The ClimateSense technology also delivers significant energy savings and is designed for optimal efficiency and thermal comfort. 

Segmental Outlook

The global automotive interior materials market is segmented based on vehicle types, and type. Based on the vehicle types, the market is bifurcated into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Based on the type, the market is divided into polymers, leather, fabric, and others. Among these, the polymers sub-segment is expected to grow at a remarkable pace over the forecast period, however, the rising utilization of fabrics with a fine look and appearance in the fabrics sub-segment is anticipated to hold a considerable share of the market.

Among the vehicle types, the passenger vehicles sub-segment is expected to hold a considerable share in the market due to the changing customers' requirements and behaviour. Rapidly changing customer preferences are pushing automotive manufacturers to launch passenger vehicles with aesthetic and luxurious interiors to improve customer satisfaction and experience, which in turn is propelling the growth of the market. Further, the growth of the segment is mainly due to the increasing sale of passenger vehicles coupled with the introduction of autonomous or EVs. Nowadays, consumer mostly prefers self-owned passenger cars to maintain social distancing, which further increases the sale of self-owned vehicles. For instance, according to Government of Andhra Pradesh Transport Department, total sales of self- owned passengers cars are 1,824 as on March 2016 in Andhra Pradesh which is high as compaired to the sales as on March 2015, which has total sales of 1,735

Regional Outlooks

The global automotive interior materials market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The Asia-Pacific segment is expected to hold a considerable share in the automotive interior materials market during the forecast period, owing to the increasing industrialization and availability of low-cost raw materials and labor in the region. 

Global Automotive Interior Materials Market Growth, by Region 2022-2028

The Asia-Pacific Region is Expected to Hold a Significant Share in the Global Automotive Interior Materials Market

Among all regions, the Asia-Pacific region is expected to hold a significant market share during the forecast period. The primary factor attributing to the growth of the market includes the huge presence of a manufacturing base for automotive interior parts in countries such as China and India. Additionally, the region has a wide presence of automotive interior materials market players such as Dow Chemical Co., Sage Automotive Interiors, Inc., and others which is further accelerating the regional growth. Consumers are demanding comfortable seats with enhanced sustainability commitments, thus to meet the demands of consumers key players are manufacturing products to bridge the gap between consumer expectations and industry capabilities. For instance, in July 2022, Sage Automotive Interiors, Inc., a synthetic leather supplier launched innovative silicone synthetic leather for automotive interiors. The product is environmentally friendly and also bolsters animal welfare across the globe. The company primarily manufactures silicone synthetic leather in Shanghai, China, which fuels the automotive interior materials market of the Asia-Pacific region. 

Market Players Outlook

The major companies serving the global automotive interior materials market include Sage Automotive Interiors, Inc., Saudi Basic Industries Corp (SABIC), Seiren Co., Ltd., Stahl Holdings B.V., Toray Industries Inc., Toyota Boshoku Corp., UFP Technologies, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2020, Sage Automotive Interiors acquired the automotive fabric business of Adient Plc, the manufacturer of automotive seating. Through this acquisition, Sage Automotive Interiors aims to strengthen its product portfolio and expand its business in Europe. 

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global automotive interior materials market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.