Automotive Interior Materials Market To Reach $79.7 Billion By 2030

Automotive Interior Materials Market Growth & Trends

The global automotive interior materials market size is estimated to reach USD 79.7 billion by 2030, expanding at a CAGR of 3.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is projected to witness a high growth rate owing to increase in demand for lightweight passenger vehicles. 

Factors such as improved economic conditions and rapid urbanization are likely to fuel the automotive interior materials market. In addition, there has been a rise in demand for personalization of cars, which will further create a positive outlook for this market.

Growth in interest for attractive automobile interiors, coupled with improved economic conditions in developing regions, is expected to boost this market over the forecast period. Market players are likely to focus on product differentiation and expanding their product catalog in order to grab market opportunities over the forecast period.

Presence of multiple leading market players has led to increased competitive rivalry within the market for automotive interior materials. Focus on product differentiation and expansion is expected to be the key to market dominance over the forecast period. Leading players have expressed interest in expanding their distribution channels as well as investing in mergers and acquisitions to strengthen their global reach in the market for automotive interior materials.

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Automotive Interior Materials Market Report Highlights

• By product, plastic accounted for a revenue share of 46.6% in 2023. Plastics are used in lightweight vehicles, which have gained consumer preference in recent years.

• The composite is expected to grow significantly during the forecast years. Composite materials offer noteworthy cost reductions compared to traditional materials, thereby elevating opportunities for vehicle manufacturers.

• Dashboard held a share of 35.3% by application in 2023 and is expected to witness significant growth over the forecast period. Plastics and composites are likely to be utilized in dashboard applications by automotive manufacturers due to their low cost and high durability.

• Asia Pacific held the highest revenue share of 55.6% by region in 2023 and is estimated to dominate the market over the forecast period. This dominance can be attributed to increase in demand for vehicles from developing countries such as India and China.

• Regional expansion by way of mergers and acquisitions, along with new product development, is a key strategy adopted by major market players in order to strengthen their position globally. Players are focused on innovating new products with multiple applications to expand their product portfolio.

• Grupo Antolin is a global supplier of automotive interiors headquartered in Spain. Established in 1950, the company specializes in manufacturing various interior components, including overhead, door panels, and lighting systems. Antolin is recognized for its innovative approach to design and technology, focusing on lightweight materials and sustainable practices. The company collaborates with major automotive manufacturers to enhance vehicle aesthetics and functionality, contributing significantly to the evolving automotive interior landscape.

Automotive Interior Materials Market Segmentation

Grand View Research has segmented the global automotive interior materials market based on product, application, vehicle type, and region:

Automotive Interior Materials Product Outlook (Revenue, USD Million, 2018 - 2030)

• Leather

• Composite

• Plastic

• Metals

• Fabric

Automotive Interior Materials Application Outlook (Revenue, USD Million, 2018 - 2030)

• Dashboard

• Seats

• Airbags & Seat belts

• Door Panel & Trims

• Carpet and Headliners

• Others

Automotive Interior Materials Vehicle Type Outlook (Revenue, USD Million, 2018 - 2030)

• Passenger

• LCV

• HCV

Automotive Interior Materials Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

List of Key Players in Automotive Interior Materials Market

• Lear Corp.

• DRÄXLMAIER Group

• Asahi Kasei Corporation.

• DK SCHWEIZER

• Antolin

• TOYOTA BOSHOKU CORPORATION

• SEIREN CO. LTD.

• FORVIA HELLA

• Yanfeng

• TOYODA GOSEI CO., LTD.