Automotive Interior Leather Market Research Report, Analysis & Forecast

Overview

Automotive Interior Leather Market Introduction

The global automotive interior leather market is estimated to be valued at USD 34.6 billion by 2019 and is projected to register a CAGR of 5.5% during the forecast period 2019-2029.

Interior leather is used in automobiles to add aesthetics. Engine oil reduces friction and minimizes damage. It also removes impurities and dust present in the fuel. It protects the cylinder and pistons from rust as well. The inflation of the automotive industry has boosted the automotive interior leather market. The rise in disposable income coupled with latest advancements has been fueling the growth of the market.

Automotive Interior Leather Market Overview

The automotive interior leather market has been classified on the basis of material, application, vehicle type, and region. On the basis of material, the market is segmented into synthetic leather and genuine leather. There has been a surge in demand for synthetic leather. The growing preference for synthetic leather is roping in investments thus inflating the automotive interior leather market. Synthetic leather is a cheaper alternative of genuine leather and offers an easy manufacturing process. Manufacturing of genuine leather pollutes the vicinity and is expensive. Government regulations and environmental laws have played a significant role in the growth of synthetic leather.

On the basis of application, the market is divided into upholstery, steering, carpet, headliner, and others. The rapid adoption of upholstery products for the interior is driving the growth of the market. It offers advantages like a softer feel and durability.

On the basis of vehicle type, the market is bifurcated into commercial vehicle and passenger vehicle. Passenger vehicle is expected to dominate the growth of the market. The rise in demand for light commercial vehicles will have a positive influence on the market. Increase in commercial transportation such as taxis and buses have spurred the demand for a commercial vehicle.

In terms of region, North America holds a vast majority of the share of the market. Asia-Pacific region is expected to escalate the market. Emerging economies like India and China are witnessing superior growth in GDP. The rise in disposable income coupled with the expansion of the automotive industry also remains a key factor behind the stimulation of the market. Abundant availability of resources and advancements of the latest technologies is stimulating the market.

Additional Insights

Development of bio-based leather expected to create multiple growth opportunities of the market. Bio-based leather is environment-friendly as it doesn't involve petroleum-based chemicals and other chemicals. Renewable bio-based sources are used for its manufacturing

Prominent players of the market are Classic Soft Trim, Alphaline Auto, Gruppo Mastrotto Spa, Scottish Leather Group Limited, Mayur Uniquoters Limited, Eagle Ottawa and Fauercia.

Global Automotive Interior Leather Market Segmentation:

By Material

Genuine Leather
Synthetic Leather

By Application

Upholster
Steering
Carpet
Headliners
Others

By Vehicle

Passenger Vehicle
Commercial Vehicle

By Region:

North America
Latin America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape:

● Tier 1 players- established companies in the market with a major market share

● Tier 2 players

● Emerging players which are growing rapidly

● New Entrants

FutureWise Key Takeaways

Synthetic leather is expected to drive the growth of the market during the forecast period. Government regulations alongside easy manufacturing process remain the key reason behind the positive influence of synthetic leather. Asia-Pacific is expected to spur the size of the market

Objectives of the Study:

To provide an exhaustive analysis of the global automotive interior leather market on the basis of material, application, vehicle and region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies