The global demand for automotive interior trims faced a slight slowdown as a result of lockdown imposed in 2020 due to the spread of Covid-19 crisis. Lockdownhindered the growing progress of automotive trims due to shuttering of production hubs and restrictions in trade. As of now, the condition is getting stabilized encouraging the market players to recover their losses through innovation in 2021.
Attraction towards latest and innovative attributes among consumers is contributing to create magnificant fascination towards automotive interior trims in 2021.
Growing preferences of consumers toward latest designs and facilities, lifestyle changes and improvements in living standards continues to add lucrative progress to this market in 2021. At present, people are craving for those vehicles that offer comfortability, safety, convenience and new experience which is creating moredemands.
Manufacturers in 2021 are coming up with latest and updated designs in the interior trims to meet multiple safety regulations, material compliance and weight requirements. Interior trims are now being redesigned every 2 years instead of 5 years to deliver innovative and attractive interiors meeting all the specifications on time and within budget.
The recent automobiles are getting launched with innovative interior features claiming to be environmental-friendly, highly flexible, fuel-efficient and sustainable. Johnson Controls and SAIC’s Yanfeng Automotive Trim Systems are among the market players which make such claims to extend customer retention globally.
Players in this market are incorporating key growth strategies such as expansions, product upgradations, product innovations, collaborations, strategic partnerships, joint ventures, research and developments etc to become global leaders in this market.
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Visteon Corporation collaborated with Volkswagen Group on May, 2020 to contribute its technical expertize and manufacturing capabilities providing an infotainment platform for Volkswagen’s new Nivus modeloffering a 10.1 inch in-plane switching display with a 1540×720 screen resolution facilitating user-personalization. This solution provides high-resolution video that looks goodfrom every angle making Visteon Corporation’s in-vehicle infotainment system convenient and accessible to all the occupants of vehicle. The collaboration proved successful for both companies as it generated robust sales throughout the world.
In addition to that, Toyota Boshoku introduced car seats with convenient and comfortable functions on February 2020. It added “Driver’s Easy Return Seat Function” in the new models of Toyota. The mechanism memorizes driver’s seat position using manual operation enabling the passengers to easily return the seat in the position that is memorized in the previous time by using a memory-lever placed on the side of seat.This newly added feature provides a comfortable ride and experience to the users resulting in improving customer retention and global presence of the company.
Continental AG on September 2020 entered into a joint venture with Osram Corporation to bring innovation in automotive interior designs. Together, they have developed a sensor-linked, software-driven intelligent LED and laser headlight systems with other digital illuminations in their recent launches. The joint venture has created strong brand representation among the worldwide users.
Automotive interior trims manufacturers are turning to non-leather solutions for instance, vinyl, realizing intense criticism from animal welfare organizations for leather-based interior trims. Further, manufacturers are banking on structural foam molding methods, based on polypropylene as the blowing agent, to fill sophisticated component areas, thereby lowering the component weight.
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Prominence of modern plastics technology in encouraging market players to leverage advanced polymers, including ABS, SMA, among others, for designing complex automotive interior trims, such as airbag housings, and center stacks for instrumental panels. In addition, PP and ABS resins provide decreased NVH levels, emotion-evoking color aesthetics, and reduced initial costs.
International regulatory bodies are urging manufacturers to focus on eco-friendly materials for designing automotive interior trims in a bid to tackle global carbon footprint. Car makers are utilizing low VOC PSA tapes for bonding and attaching automotive interior trims. Luxury vehicle makers are utilizing recycled microfibers for instance, econyl yarn derived from used fishing nets, to design floor carpets. Established automobile manufacturers are using glycol from renewable sugar to design cushion material.
Furthermore, escalating production of green vehicles, including electric and hybrid vehicles, in low and middle-income countries (LMIC) is set to propel the growth of automotive interior trims market globally.
Automotive Interior Trim Market- Opportunities
Incorporation of green technology in the automotive industry is a major opportunity for the growth of automotive interior trim market. It is also set to help market players in increasing their market share and business revenue. The automotive interior trim leather industry is following the footsteps of the automotive industry with an adoption of green technology for the manufacturing of automotive leather. With growing concern for environmental-friendly automotive interior leathers, market players need to strike the right balance between high manufacturing costs of “green” materials and stringent regulatory framework that monitors production, in order to maintain sustainability and profitability in such a competitive market.
Major players in the global automotive interior systems market are vertically integrating the interiors supply chain to ensure that they can meet the demand from OEMs and offer a wide variety of automotive interior systems with low manufacturing costs. Moreover with the acquisition of prominent leather manufacturers by key automotive seating systems market players, the raw material price for automotive seating systems is likely to decline and hence, automotive seating manufacturers are expected to gain significant profit margins in the next few years. This factor will create a positive impact on the automotive interior trim market.
Automotive Interior Trim Market- Trends
A number of automakers are turning their focus towards a new technology called smart textiles. Smart textiles are being increasingly used to replace heavier components in vehicles. For example, textiles that can automatically heat and cool themselves could replace thermo-conductive layers, which automakers are currently installing in seats for the same function.
Moreover, along with the application of green technology in automotive leather & textile material, an introduction of a new segment of vehicles, such as electric and hybrid vehicles, is expected to be a major trend which is expected to drive the growth of automotive interior trim market. Owing to increasing demand from emerging economies and rising per capita income in these regions, the passenger vehicles segment is expected to account for a significant share of the market over the forecast period. The passenger vehicles segment continues to rise and is mainly driven by the substantial growth in China.
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Automotive Interior Trim Market- Regional Outlook
The automotive interior trim market in APAC is anticipated to be lucrative due to increasing production in automotive sector and the robust demand for commercial vehicles and passenger cars in India, China, and some other APAC countries. Rising production in automotive sector in countries like Mexico and Brazil and escalating demand for inexpensive interior trim and lightweight materials are likely to create unprecedented growth of Latin America automotive interior trim market throughout the assessed period. On the other hand, automotive interior market in North America is expected to show comparatively steady growth due to a slowdown in automotive production in the U.S. and Canada
Automotive Interior Trim Market- Key Manufacturers
Qinghe Yongxin, Cooper Standard, Hebei Longzhi, Toyoda Gosei, Jiangyin Haida, Hutchinson, Jianxin Zhao’s, Henniges, Zhejiang Xiantong, Nishikawa Rubber, Dura Automotive, SaarGummi, Qinghe Huifeng, Minth Group, Guizhou Guihang, Kinugawa, Hwaseung and Magna are some of the top manufacturers functioning in the global automotive interior trim market.
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