According to forecasts, the automotive soft trim interior materials market is expected to be US$ 6,007.8 million in 2023 and US$ 9,601.3 million by 2033.
The market’s rising demand has encouraged the ongoing development of manufacturing procedures for vehicle interiors. Future vehicle interior producers need to adapt to shifting consumer preferences and grow in a varied, distinctive, and branded way while maintaining high standards for quality and safety.
Also, top automakers are competing to add climate-controlled car seats to hybrid vehicle models, which use energy to heat or cool the seats. A limited number of the market’s electric and hybrid vehicles already have some.
The number is anticipated to rise shortly as consumers and automakers look for more environmentally friendly options, boosting demand for hybrid and electric vehicles.
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Key Takeaways
- By 2033, the automotive soft trim interior materials market in the United Kingdom is likely to expand, with a CAGR of 4.9%.
- In 2023, the United States is expected to develop the automotive soft trim interior materials business with a share of 12.3%.
- The automotive soft trim interior materials market grew considerably to US$ 5,743.6 million in 2022.
- The automotive soft trim interior materials sector expanded at a CAGR of 4.6% from 2018 to 2022.
- By 2033, China’s automotive soft trim interior materials market is projected to develop with a CAGR of 4.6%.
- By 2033, India’s automotive soft trim interior materials industry is projected to develop with a CAGR of 5.2%.
- Japan’s automotive soft trim interior materials industry is expected to expand significantly, with a 6.1% share in 2023.
- Australia’s automotive soft trim interior materials sector is expected to expand, with a share of 1.1% in 2023.
- Germany’s automotive soft trim interior materials sector is expected to expand, with a share of 10.5% in 2023.
- In 2023, the leather segment is likely to dominate the market, with a share of 18.7%, based on material type.
Competitors Winning Strategies
As the importance of sustainability increases, businesses are creating soft-trim materials that are recyclable, environmentally friendly, and derived from renewable resources. This trend towards eco-friendly methods is consistent with rising consumer awareness and legislative obligations.
In the automobile sector, mergers and acquisitions are frequently used to increase product diversity and consolidate market dominance. Companies either buy out or merge with comparable enterprises to access cutting-edge technology, customer growth, and market position.
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Key Segments
By Material Type:
- Fabric
- Leather
- Thermoplastic Polymers (Includes PVC)
- Thermoplastic Elastomers
- Thermoplastic Olefins (TPO)
- Thermoplastic Polyurethanes (TPU)
By Application:
- Door Trim
- Seating
- Cockpit and Dashboard
- Pillar Trim
- Headliner
- Floor/Acoustic Systems
- Trunk
By Vehicle Type:
- Passenger Cars
- Sub-Compact
- Compact
- Mid-Size
- Sedan
- SUV/MUV
- Luxury
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- The Asia Pacific
- Middle East and Africa
- Europe
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Recent Development:
- In October 2022, upholstery fabric produced from recycled plastic bottles was unveiled by Lear Corp., a producer of automobile seats and electronic systems. Also, the business disclosed intentions to work with a significant carmaker to deliver a 100% recyclable sueded material for use in centers and door panels in 2024.
- Toyota Boshoku Corporation (Japan) and TACHI-S CO., LTD. (Japan) announced in March 2017 that they had inked a collaboration agreement to increase their respective competitiveness in the global automotive markets and provide car seats that meet consumer expectations.
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