Automotive Interior Leather Market is
anticipated to witness exponential growth in the forecast period. Factors, such
as increasing consumer disposable income, technological advancement, better
product performance as compared to other leather alternatives, improvement in
performance efficiency, low cost of production and superior sustainability
drives the market growth. Customer demand for better-quality ergonomic and
appealing features of the interior design are likely to drive the market in
forthcoming period.
On the other hand, increase in the cost of genuine leather
owing to regulations concerning synthetic leather and the demand-supply gap is
anticipated to hinder automotive interior leather market growth in the future.
However, the rapid development of automotive industry is likely to create
lucrative opportunities for the market. Globally, market is anticipated to
expand at a significant CAGR in the upcoming period as the scope, product
types, and its applications are increasing on a global level.
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Automotive interior leather market is segmented by vehicle
type, product type, application, distribution channel, and geography. Market is
segmented by vehicle type as Passenger Vehicles, Heavy Commercial Vehicles, and
Light Commercial Vehicles. The “Passenger Vehicles” segment accounted for a
prominent share in the market. It is likely to witness substantial growth in
the years to come. The key factors that could be attributed to the growth of
market high usage of passenger cars on account of safety from numerous
environmental conditions such as heat and dust are projected to encourage the
production of passenger vehicles in the years to come.
Based on product type, the automotive interior leather
market could span Synthetic Leather (PVC & PU), Polymers, Genuine Leather,
and Fabric. The “Genuine leather” segment accounted for a prominent share in
the market. It is likely to witness substantial growth in the years to come.
The key factors that could be attributed to the growth of market high
penetration, mainly in high-end vehicles despite the accessibility of
inexpensive artificial alternatives.
Based on the design, the automotive interior leather
industry could span as Conventional punched, Antiquing Quilting, Embroidery and
Other Designs. The key applications for the market are segmented as Headliners,
Upholstery, Seat Belt and Carpet. The “Upholstery” segment accounted for a
prominent share in the market. The market is segmented based on distribution
channel as Online and Offline distribution. “Offline” segment accounted for a
prominent share in the market. It is likely to witness substantial growth in
the years to come.
Asia-Pacific is a leading region in the market. It is likely
to maintain a dominance in the forecast period owing to factors, such as
increase in middle-class population base, technological advancement, growing
per capita income in developing economies, improving standards of living, rapid
growth of motor vehicle manufacturing capacities is boosting the demand for
automotive leather in the region. China is the major market for synthetic
leather in the Asia Pacific region. Asia-Pacific is followed by the North
American region.
Key players operating in the automotive interior leather
market include Ctl Leather Inc., Gst Auto leather Inc., Walldorf Leder Schmidt
& Co Get M.B.H, Dk Leather Corporation Berhad, Katzkin Leather Inc., Eagle
Ottawa Llc, Mayur Uniquoters Limited, Kuraray Co. Ltd., Scottish Leather Group
Limited, Alpha line Auto, Alfatex Italia Srl, and Classic Soft Trim. The
leading companies are involved in partnerships, mergers and acquisitions, and
joint ventures in order to boost inorganic growth of the industry.
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