Automotive Plastic Interior Trims Market

Automotive Plastic Interior Trims Market Overview

The global automotive plastic interior trims market is estimated to reach nearly US$ 26 Bn in 2022. According to Future Market Insights (FMI), the demand for automotive plastic interior trims is expected to surpass US$ 44 Bn, registering growth at a CAGR of 6% - 8% during the forecast period (2022-2032).

Automotive plastic interior trims are used to enhance the interior aesthetic of vehicles. Growing consumer preference for stylish and comfortable interiors in passenger and luxury vehicles is anticipated to drive sales of automotive plastic interior trims in the forthcoming coming years.

Growing inclination toward comfortable interior accouterments and functions is compelling the market players to develop advanced automotive plastic interior trims. This is likely to spur the sales in the market.

Also, rising demand for superior quality and safer door panels, headliners, and other vehicle interior components is anticipated to create prolific growth prospects in the market.

Which are the Key Opportunities Boosting the Growth in Automotive Plastic Interior Trims Market?

Increasing expenditure on vehicle aesthetics is encouraging consumers to opt for customized interiors and vehicle customization. This is expected to boost sales of automotive plastic interior trims in the forthcoming years.

Surging demand for fuel efficiency, along with growing focus on maintaining the safety and improving the performance of vehicles is fueling applications of use lightweight materials such as plastics. Thus, increasing demand for lightweight vehicles will offer opportunities for growth to the market players.

In 2012, the National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency (EPA) together introduced a joint final to improve fuel efficiency to control greenhouse gases emitted by passenger cars and light trucks during 2017-2025. As per the rule, a combined fleet-wide fuel economy of 40.3-41.0 mpg for 2021 and 48.7-49.7 mpg for 2025 had been established. Such regulations to control vehicular emission is increasing the adoption of lightweight vehicles, which will further augment the demand in the market.

With the depletion of fossil fuel-based chemicals such as natural gas or petroleum, the availability of plastics is hampered. This is estimated to propel the demand for bio-based plastics, which, in turn, will drive the market over the forecast period.

Which Factors are Restraining the Growth in the Automotive Plastic Interior Trims Market?

The availability of alternative materials such as fiberglass materials, wood composites, and natural fiber component is hampering the demand plastic. This is expected to restrain the growth in the automotive plastic interior trims.

Also, high cost of advanced plastic materials compared to aluminum, along with increasing costs of replacement and automotive import tariffs might hamper the demand for automotive plastic interior trims.

How will the Sales of Automotive Plastic Interior Trims Fare in Asia Pacific?

As per the study, Asia Pacific is anticipated to lead the global automotive plastic interior trims market during the forecast period (2022-2032).

High demand for automobiles, especially electric vehicles, in developing countries such as China and India is likely to propel sales of automotive plastic interior trims in the region.

Additionally, increasing per capita income is boosting sales of luxury and premium vehicles with exquisite interiors. This, in turn, is expected to drive the automotive plastic interior trims market.

Nikhil Kaitwade

Principal Consultant

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Which are the Factors Contributing to Growth of Automotive Plastic Interior Trims Market in Europe?

According to FMI, Europe is anticipated to emerge as an attractive pocket for investment over the forecast period owing to increasing usage of high-performance plastic for energy-efficiency and weight reduction in vehicles.

Stringent government regulations to control greenhouse gas emissions in the region is compelling manufacturers to opt for sustainable plastics. Hence, the demand for automotive plastic interior trims is anticipated to surge in the forthcoming years.

Subsequently, rising environmental concerns in the various countries, especially Germany and the U.K., are fueling the demand for e-vehicles. This is likely to create lucrative growth opportunities for players operating in the market.

Market Competition

Leading players in the global automotive plastic interior trims market include Trinseo, Dassault Systèmes, CIE Automotive, Doughlas Corporation, TS TECH Co., Ltd., Neaton Auto Products Manufacturing, Inc., Sage Automotive Interior Trim, ITG Company, Covestro AG, KASAI KOGYO CO., LTD., and Hayashi Telempu Co., Ltd., among others.

Key manufacturers are developing cutting-edge automotive plastic interior trims with low vibrations and luxury appearance to strengthen their global presence. They are also improving their production capabilities to enhance their supply chain, catering to the growing demand.

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Scope of Report

Key Segments Profiled in the Automotive Plastic Interior Trims Market

Vehicle Type:

• Commercial Vehicles
• Passenger Cars

Application:

• Pillar Trims
• Door Trims
• Instruments Panels
• Armrest
• Seat Backs
• Roof Handles
• Central Consoles
• Luggage Trims
• Seat Belt Guides

Sales Channel:

• OEM
• After Market

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa