Abstract, Snapshot, Market Analysis & Market Definition: Global Automotive Interior Leather Market
The global Automotive Interior Leather market size is projected to reach US$ 49.92 billion by 2026, from US$ 34.21 billion in 2020, at a CAGR of 6.5% during 2021-2026. Rising automotive manufacturing activities, especially in emerging economies of Asia Pacific such as China, and India, is one of the key trends escalating market growth. Moreover, surging demand for artificial/synthetic leather in cheaper motor vehicle variants is poised to provide an upthrust to the market during the forecast period.
Asia Pacific is observing a boom in manufacturing in the automotive industry. China and India are the sights of high growth rates in the region. Strong GDP growth rate, rising disposable income of the populace, and government support are revving up the production of motor vehicles in these countries. Moreover, their demand in lower tier cities is likely to augment with declining prices.
SAIC Motor, Dongfeng, FAW, and Changan Automobile Group are major domestic auto manufacturers of China. Other manufacturers include Beijing Automotive Group, Brilliance Automotive, BYD, Chery, Greely, Jianghuai (JAC), Great Wall, and Guangzhou Automobile Group.
Widening base of middle class population and cheaper availability of labour and other resources are supplementing the growth of the motor vehicle manufacturing industry in Asia Pacific. The region is also witnessing investments from key players such as Bayerische Motoren Werke AG, Fiat S.p.A, Ford Motor Company, MazdaMotor Corporation, Nissan Motor Co., Ltd., and Jaguar.
There has been a considerable shift towards synthetic/artificial variants, which are considered cheaper alternative of genuine leather. Their cost of production is less than that of natural leather and also has an easier manufacturing process. Growing prominence of artificial leather is leading to increase in investments in the sector, which will subsequently help improve overall product penetration.
Steps involved in manufacturing of natural leather, especially tanning, lead to pollution of nearby surroundings. This is another major reason leading to the shift in preference toward synthetic leather. Stringent environmental laws and government regulations are playing a vital role in promoting demand for synthetic leather.
Market Segmentation, Outlook & Viewpoint: Global Automotive Interior Leather Market
Vehicle Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)
- Passenger Cars
- Light Commercial Vehicles
- Trucks & Buses
Material Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)
Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)
- Upholstery
- Headliners
- Carpet
- Seat Belt
- Other
Key Players, Recent Developments & Regional Insights: Global Automotive Interior Leather Market
On the basis of application, the market is segmented into upholstery, headliners, seat belts, carpet, and others. Upholstery is anticipated to dominate the market throughout the forecast period. Automotive upholstery includes utilization of skilled knowledge as well as skill set regarding usage of specialized materials and machinery. Reupholstering & recovering of seats and trims of a vehicles interior are the major application pertaining to upholstery. Seats are the most commonly reupholstered part because they are exposed to most damage and use.
Regional Insights
Asia Pacific is expected to register the fastest growth over the forecast period owing to rising per capita income in emerging economies, expanding middle-class population base, and improving standards of living. Rapid development of motor vehicle manufacturing capacities is boosting the demand for automotive leather in the region. China, Indonesia, India, and Bangladesh are estimated to be the key revenue contributors in APAC.
China is the largest market for synthetic leather in Asia Pacific. Automotive industry, which is a vital application segment, is witnessing rapid growth in the country. Abundant availability of resources, easy accessibility to latest technologies, and rising penetration of premium automotive are some of the primary growth stimulants for the market in the country.
Automotive Interior Leather Market Share Insights
Key players operating in the market include Alphaline Auto, Eagle Ottawa LLC, San Fang Chemical Industry Co., Ltd., Wollsdorf Leder Schmidt & Co Ges.m.b.H., Nan Ya Plastics Corporation, and Tata International Ltd. In recent past, there has been an increase in focus on provision of high-quality products in order to retain customer loyalty.
Key Insights Covered: Global Automotive Interior Leather Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Automotive Interior Leather industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Automotive Interior Leather industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Automotive Interior Leather industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Interior Leather industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Automotive Interior Leather industry.
Research Methodology: Global Automotive Interior Leather Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other