Global Automotive Interior Materials: Top Global Players Comparison, Part 1

Part
01
of three
Part
01

Global Automotive Interior Materials: Top Global Players

Some of the top global players in the automotive interior materials market include Adient, Lear, Grupo Antolin, Toyota Boshoku, and Toyoda Gosei. Full details on these companies are outlined in the attached spreadsheet.

ADIENT PLC

LEAR CORPORATION

  • Description: Lear is a leading global supplier of automotive seating systems as well as electrical distribution systems. The majority of the company's sales comes from the seating segment, which accounts for 77% of its total sales.
  • Revenue: $16.25 billion (77% x $21.1 billion)
  • Market share: 34.84% ($16.25 billion / $46.63 billion)

TOYOTA BOSHOKU CORPORATION

  • Description: Toyota Boshoku’s interior materials products are segmented within the 'Interior & Exterior' and 'Seats' segments, which accounted for around 90% of the company’s total sales.
  • Revenue: $11.16 billion (90% x $12.4 billion)
  • Market share: 23.93% ($11.16 billion / $46.63 billion)

TOYODA GOSEI CO., LTD

  • Description: Toyoda Gosei offers interior/exterior parts, weather-strips, and safety system products such as airbags for the automotive industry. The 'Interior and Exterior Parts' and 'Safety System Products' segments accounted for 82.7% of the company’s total revenue.
  • Revenue: $5.95 billion (82.7% x $7.2 billion)
  • Market share: 12.77% ($5.95 billion / $46.63 billion)

GRUPO ANTOLIN

RESEARCH STRATEGY

We first identify some of the key players in the industry by examining reports published by various market research sites such as Markets and Markets, GM Insights, and Market Research. Along with the five companies provided above, Sage Automotive Interiors and Faurecia have also been listed as major players on these reports. As their market share in the industry is not publicly available, we examined their estimated revenue to identify the five largest players. As Adient, Lear, and Grupo Antolin do not publish sales figures for their interior materials segment only, we used the segment that contained this particular segment as a proxy or their total revenue if the majority of their operations focused on this segment. Similarly, we have used the interior and exterior materials combined segment for Toyota Boshoku and Toyoda Gosei as a proxy.

Part
02
of three
Part
02

Global Automotive Interior Materials: Top Global Players Comparison Part 1

The competitive analysis for Adient plc, Lear Corporation, and Toyota Boshoku Corporation, including each company's overview, products / services, pricing, target market, and competitive advantage, has been compiled in the attached spreadsheet.

Global Automotive Interior Materials: Top Global Players

  • Adient plc's competitive advantage is the fact that Adient plc identifies itself as the market leader in all six product categories for automotive interiors (including Front Seat Structures, Rear Seat Structures, Tracks, Recliners, Height Adjusters, and Latches).
  • Adient plc's products that include automotive interiors only include: Structures & Mechanisms, Foam, Fabrics, and Trim.
  • Lear Corporation has its headquarters in Southfield, Michigan, United States. In 2018, it ranked #148 on the Fortune 500 list.
  • Although Lear relies on two clients — General Motors Corporation and Ford Motor Company (and their respective affiliates) for 56% of its sales, Lear's systems can be found in more than 300 different vehicle manufacturers globally.
  • Toyota Boshoku Corporation is a Japanese automotive component manufacturer. It is a member of the Toyota Group of companies.
  • Toyota Boshoku Corporation's three biggest clients are Toyota Motor Corporation, Mazda, and General Motors.
Part
03
of three
Part
03

Global Automotive Interior Materials: Top Global Players Comparison Part 2

Details pertaining to Toyoda Gosei and Grupo Antolin have been populated in the attached spreadsheet. The information in the spreadsheet has been summarized below.

TOYODA GOSEI

  • Toyoda Gosei was founded in 1949 and is headquartered in Aichi, Japan. It has a global footprint and a particularly strong presence in North America and the Asia-Pacific region.
  • The company manufactures weatherstrips, airbags, steering wheels, instrument panels, console boxes, and registers.
  • It has exhaustive product mix options and an extensive dealer network. It has a great reputation for quality and commands higher margins than its competitors.
  • Toyota, Nissan, Renault, GM, BMW, Mercedes-Benz, Fiat, Subaru, Suzuki, Honda, Ford, PSA, TTID, and TKAP are some of its clients.

GRUPO ANTOLIN

  • Grupo Antolin was founded in 1950 and is headquartered in Burgos, Spain. It has a presence in 25 countries and supplies components to 1 in 3 cars in the world.
  • The company manufactures overheads, doors, lighting, cockpits, trims, insulation, and deadening systems for automobiles.
  • It is the largest producer of automobile overhead systems and the top-most player in the European car-interior lighting industry. Recently, it has made significant investments in the electric vehicle space, which should help accelerate its growth in the future.
  • Audi, Aston Martin, Bajaj, Bentley, BMW, Bugatti, Buick, Cadillac, Chery, Chevrolet, Chrysler, Citroën, Dacia, Daewoo, Dodge, Eicher, Fiat, Ford, GMC, Guanzhi, Hindustan Holdings, Honda, Hongqi, Hyundai, ICM, Infiniti, Isuzu, Jaguar, Jeep, Kia, Lada, Lamborghini, Lancia, Land Rover, Lincoln, Luxgen, Mahindra, MAN, Maruti, Mazda, Mercedes- Benz, MG, Mingjue, Mini, Mitsubishi, Nissan, Opel, Otokar, Peugeot, Porsche, Qoros, Renault, Reich, Roewe, Rolls-Royce, Samsung, Seat, Skoda, Suzuki, Tata, Tesla, Toyota, Venucia, Volkswagen, Volvo, and Xiali are its clients.

ADDITIONAL INFORMATION

  • Breakdown of revenues of Toyoda Gosei:

- Interior and Exterior Parts: 38.4%
- Safety System Products: 28.0%
- Weatherstrips: 16.3%
- Functional Parts: 15.5%

RESEARCH STRATEGY

We searched the respective company websites and annual reports for any information related to pricing. We found breakup of segment revenues; however, none of the companies have disclosed the price of individual products. As the companies develop customized products for vehicles, it is unlikely that they would publish any pricing information (generally for standard products) on their websites. We also searched specifically for deal-related pricing information but did not find any product pricing-specific information. Following this, we searched for product price information in media sources like Auto News, Plastics News Europe, Automotive World, and Just-Auto, and industry portals like Marklines, International Automobile Association, International Organization of Motor Vehicle Manufacturers (OICA), European Automobile Manufacturers Association. This also didn't yield any results. Our last strategy was to look for this information in research reports by agencies like Market Intellica, Maia Research, Artizon, QY Research, and Research Hunt. Although none of these reports explicitly mention pricing information, they contain analyses of these companies, which may also cover pricing. However, information pertaining to the companies was behind paywalls.
Sources
Sources

From Part 01
Quotes
  • "Some of the key players operating in the automotive interior materials are Toyota Boshoku Corporation (Japan), Lear Corporation (US), Toyoda Gosei Co., Ltd. (Japan), Adient plc (Ireland), Faurecia S.A. (France), Grupo Antolin (Spain), and Sage Automotive Interiors Inc. (US)."
Quotes
  • "Some of the major players contributing the market share are Lear Corporation, Faurecia S.A., Johnson Controls, Grupo Antolin-Irausa, Seiren Co., Yanfeng Automotive Trim Systems Co., Toyota Boshoku Corporation, Benecke-Kaliko AG, Sage Automotive Interiors Inc., D.K Leather Corporation and GST AutoLeather Inc."
Quotes
  • "And it’s why, in just over 30 years of partnering with automakers, we are the leader in the $70 billion automotive seating industry – with nearly double the global market share of our closest competitor. Today, as an independent public company, we have the ability to reinvest in our core business, quickly capitalize on emerging trends and sharpen our focus on innovation – in automotive seating and beyond."
Quotes
  • "Today, Lear is a leading global supplier of complete automotive seating systems and components,as well as electrical distribution systems and electronic components, including high-power and hybrid electrical systems and components. "
  • "Lear’s total sales were a record $18.6 billion, with 77% in the Seating segment and 23% in the E-Systems segment. Lear ranked #154 in the latest Fortune magazine survey. "
Quotes
  • "-Segments among the Automotive Parts Business: (Breakdown of revenues for FY ended March 2018) Interior and Exterior Parts: 38.4% Safety System Products: 28.0% Weatherstrips: 16.3% Functional Parts: 15.5%"
Quotes
  • "We are one of the largest players in the car interiors market internationally and number 1 worldwide supplier of headliner substrates."
  • "We offer products with high added value to outfit automobile interiors: Overheads & Trunk Trim, Doors & Hard Trim, Lighting and Cockpits & Consoles. Our long industrial tradition and mastery of a broad technologies portfolio have positioned us as a key reference in the automotive sector."
Quotes
  • "The fundamental idea behind Sage has never changed: We design and manufacture innovative interiors that complete the automotive experience. Whether it's a sports sedan, luxury coupe or SUV, all of our materials feature the distinctive style, flawless performance and luxurious comfort that appeal to customers around the globe."
  • "Sage is no flash-in-the-pan newcomer to the automotive interior business. Over the course of our 70-year heritage, we have earned a global reputation for cutting-edge innovation, world-class manufacturing, forward-looking design and outstanding customer service and support. All of which is driven by our single-minded focus on understanding the consumer and delivering what they want."
From Part 03