Press release
Automotive Interior Leather Market is estimated to be valued at ~US$ 29.9 Bn in 2021
The COVID-19 pandemic crisis has severely affected the global economic growth, resulting in disruptions in the supply chain networks. Subsequently it has affected the market leading to sluggish growth in 2020. However, the market is expected to recover as economic activities resumes post the containment of pandemic.
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According to FMI, sales within the passenger cars segment will recover after taking a massive hit amid COVID-19 in 2020. Despite this, temporary period of lull passengers will account for a little below 70% of leather sold for automotive interior in 2021.
The research examines prevailing demand and supply trends within the automotive interior leather. It presents a comprehensive overview based on in-depth research. Some of the key findings of the report are discussed below:
Key Takeaways of Global Automotive Interior Leather Market Study
Automotive interior leather market is expected to expand at a CAGR of ~4.1% during the forecast period of 2021-2031
The U.S. will account for over 84% of automotive interior leather sold in North America
The U.K. is expected to register above 4% Y-o-Y growth in 2021 after witnessing significant drop in sales in 2020
Germany and France will exhibit positive growth after registering negative sales amid COVID-19
Within East Asia, China will remain the dominant market, trailed by Japan and South Korea
“Manufacturers are focusing on product innovation and besides offering improved sustainability. In the coming years they are likely to gain from the rising demand for passenger cars. Also, consumers’ preference for the sustainable products and better comfort are the key factors enabling growth in the market. Overall the expansion of the automotive industry will continue creating lucrative opportunities for the market,” said an FMI analyst.
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Some of the key players in the market are Lear Corporation, Seiren Co., Ltd, GST AutoLeather Inc, BOXMARK Leather GmbH & Co KG, Bader GmbH & Co. KG, Katzkin Leather,Inc. , Leather Resource of America, WOLLSDORF LEDER SCHMIDT & Co. Ges.m.b.H. , DK Leather Corporation, Scottish Leather Group Limited. These players have comparatively higher market presence in the global market, and have longstanding relationships with a number of leading end users, giving them an upper hand among their peers.
Global Automotive Interior Leather Market by Category
Material Type
Genuine Leather
Synthetic Leather
PU Leather
PVC
Vehicle Type
Passenger Cars
Compact
Mid-Sized
Sedan
Luxury
Van
Light Commercial Vehicles
Heavy Commercial Vehicles
Application
Upholstery
Dashboard
Seat belts
Air-bags
Floor & trunk carpets
Headliners
Others
Sales Channel
OEM
Aftermarket
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Region
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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