The global automotive plastic interior trims market is estimated to reach nearly USD 26 Billion in 2022. According to Future Market Insights (FMI), the demand for automotive plastic interior trims is expected to surpass USD 44 Billion, registering growth at a CAGR of 6% to 8% during the forecast period (2022 to 2032).
| Report Attribute | Details |
|---|---|
| Automotive Plastic Interior Trims Market Expected Market Value (2022) | USD 26 Billion |
| Automotive Plastic Interior Trims Market Anticipated Forecast Value (2032) | USD 44 Billion |
| Automotive Plastic Interior Trims Projected Growth Rate (2022 to 2032) | 6% to 8% CAGR |
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 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.
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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 a growing focus on maintaining the safety and improving the performance of vehicles is fueling applications of using 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 USA Environmental Protection Agency (EPA) together introduced a joint final to improve fuel efficiency to control greenhouse gases emitted by passenger cars and light trucks from 2017 to 2025. As per the rule, a combined fleet-wide fuel economy of 40.3 to 41.0 mpg for 2021 and 48.7 to 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.
The availability of alternative materials such as fiberglass materials, wood composites, and natural fiber components is hampering the demand for plastic. This is expected to restrain the growth in automotive plastic interior trims.
Also, the high cost of advanced plastic materials compared to aluminum, along with increasing costs of the replacement and automotive import tariffs might hamper the demand for automotive plastic interior trims.
As per the study, Asia Pacific is anticipated to lead the global automotive plastic interior trims market during the forecast period (2022 to 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.
According to FMI, Europe is anticipated to emerge as an attractive pocket for investment over the forecast period owing to the 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 various countries, especially Germany and the United Kingdom, are fueling the demand for e-vehicles. This is likely to create lucrative growth opportunities for players operating in the market.
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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.
| Report Attribute | Details |
|---|---|
| Growth Rate | 6% to 8% CAGR |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Vehicle Type, Application, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | Trinseo; Dassault Systèmes; CIE Automotive; Douglas Corporation; TS TECH Co., Ltd.; Neaton Auto Products Manufacturing, Inc.; Sage Automotive Interior Trim; ITG Company; Covestro AG; KASAI KOGYO CO., LTD.; Hayashi Telempu Co., Ltd. |
| Customization | Available Upon Request |
The overall sales of automotive plastic interior trims are projected to reach a valuation of USD 26 Billion in 2022.
Asia Pacific is anticipated to dominate the automotive plastic interior trims market owing to rising demand for luxury and premium vehicles with exquisite interiors in the region.
The global automotive plastic interior trims market is estimated to record growth at a CAGR of 6% to 8% during the forecast period.
| Projected Forecast Value (2023) | USD 42.5 billion |
|---|---|
| Projected Forecast Value (2033) | USD 62.9 billion |
| Growth rate (2023 to 2033) | 4.0% CAGR |
| Projected Forecast Value (2023) | USD 37.23 billion |
|---|---|
| Projected Forecast Value (2033) | USD 69.1 billion |
| CAGR (2023 to 2033) | 6.41% |
| Market Size (2023) | USD 6,007.8 million |
|---|---|
| Market Size (2033) | USD 9,601.3 million |
| Market CAGR (2023 to 2033) | 4.8% |
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