According to a report by Future Market Insights (FMI), the global automotive plastic interior trims market is expected to grow at a moderate CAGR of 6% to 8% during the forecast period. Valued at USD 26 billion in 2022, the market is projected to reach USD 44 billion by 2032.
The growth in automotive plastic interior trims is driven by ongoing innovations in vehicle interior components. Consumers are increasingly favoring convenience, advanced safety features, and premium aesthetics, which is expected to boost the market over the study period.
The surge in demand for automotive plastic interior trims is primarily fueled by the use of lightweight and advanced materials that offer unique finishes for vehicle interiors. With a focus on reducing overall vehicle weight and enhancing comfort, manufacturers are anticipated to significantly increase their use of plastic interior trims from 2022 to 2032.
However, analysts at FMI foresee potential challenges such as the high cost of advanced interior components, increased automotive import tariffs, and longer production cycles, which could hinder market growth. For example, the cost of electronic systems in vehicles, which previously constituted 1–2% of the total vehicle cost, has risen to 8–12% due to the growing demand for enhanced user experiences and convenience features.
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FMI also notes that the rising adoption of autonomous and semi-autonomous vehicles is likely to drive demand for automotive plastic interior solutions. These vehicles require the integration of advanced technologies, which will boost the need for sophisticated plastic trims. Additionally, automotive plastic trims are expected to play a crucial role in concept cars featuring radical designs and cutting-edge technologies, further accelerating the demand for cockpit electronic systems.
Key Takeaways from the Automotive Plastic Interior Trims Market
- Asia Pacific region is projected to dominate the global automotive plastic interior trims market and advance at a CAGR of 3.45% during the period 2022-2032.
- Asia Pacific/APAC has accounted for a dominant revenue share of over 45.0% during the base year.
- The Polypropylene segment for automotive plastic interior trims accounted for a revenue share of more than 30% in the base year.
- The Injection Molding segment led the market and accounted for the highest revenue share of more than 55.0% in 2021.
“The use of lightweight carbon fibers and different polymers in the production of automotive trim components are likely to create lucrative growth opportunities for the manufacturers and provide them the ability to produce high specific strength, intricate shapes, and high energy absorption features for the vehicles.” – Says an FMI Analyst
Competition Landscape in the Automotive Plastic Interior Trims Market
The market is found to be significantly fragmented owing to the presence of a large number of manufacturers across the globe. The global players are facing intense competition from each other along with the regional players who have strong distribution networks, coupled with incredible knowledge of regulations and suppliers.
The companies in the automotive plastic interior trim market are competing on the basis of product quality offered and the technology being used for the production of automotive plastics. The manufacturers are continually innovating and getting themselves indulged in mergers & acquisitions to gain a competitive advantage and curate high-end automotive interiors with maximum finesse.
Trinseo, Dassault Systèmes, CIE Automotive, Doughlas Corporation, TS TECH Co., Ltd., Neaton Auto Products Manufacturing, Inc., Sage Automotive Interior Trim, and ITG Company are some of the key players in the market.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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