openPR Logo
Press release

Expansion of Automotive Interior Leather Market Poised to Reflect a CAGR of 5.2% for 2016-2026 Period

03-08-2018 01:02 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Expansion of Automotive Interior Leather Market Poised

Leather used in car and vehicle interiors continues to be sourced from the hide produced as a by-product of processed meat. Advanced meat processing techniques and a rise in vegetarianism witnesses across the globe are factoring the dip in production of leather from animal hides & pelts. Leather car interiors are gradually losing their momentum in the global automotive industry as more and more automakers are opting for synthetic fabrics as alternative for leather materials. A recent study conducted by Future Market Insights projects that between 2016 and 2026, global revenues amassed from sales of automotive interior leather will grow steadily, registering a modest CAGR of 5.2%.

Apropos the study, surging preference of global automobile manufacturers to cheap and easily available synthetic fabrics as substitute for leather will continue to be a major growth inhibitor for global automotive interior leather market. Nevertheless, growing preference to synthetic leather will continue to help the market gain a balanced growth over the forecast period. According to Future Market Insights, the global market for automotive interior leather, which is presently valued to be an estimated US$ 25.6 billion, is expected to reach US$ 42.5 billion value by the end of 2026. On the basis of materials, global consumption of synthetic leather over genuine leather will continue to gain traction, accounting for nearly 60% share of global revenues through 2026.

Request For Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-1561

Higher Demand for Leather in Upholstery of Vehicle Interiors

According to the study, the presence of leather materials in the interior of an automobile will continue to be majorly concentrated in its upholstery. Consumers and vehicle owners will continue preferring leather for their car interior upholsteries. In 2016, nearly 670,000 thousand square meters of leather in the world was used for automotive interiors. About 30% of this was accounted by upholstery applications, followed by headliners, which procured over US$ 5 billion global revenues in 2016. Likewise, global revenues accounted by sales of automotive interior leather in production of floor & trunk carpet will also incur a healthy growth, increasing steadily at an estimated 5% CAGR over the forecast tenure.

Leather Remains Prevalent in Interiors of Compact & Mid-Sized SUVs

Passenger cars such as SUVs and sedans continue to be the largest end-user vehicle of automotive interior leather. Passenger car manufacturers from around the world will continue to promote the use of leather over other materials. In 2016, more than 500,000 thousand square meters of automotive interior leather was consumed for interiors of passenger cars. Global revenues accrued from sales of leather in manufacturing interiors of compact and mid-size SUV are expected to grow at a healthy CAGR of more than 5% through 2026. On the other hand, revenues accounted by light-weight commercial vehicles (LCVs) and heavy commercial vehicles (HCVs) are anticipated to increase at a sluggish rate.

Request For Report Table of Content (TOC): https://www.futuremarketinsights.com/askus/rep-gb-1561

GST AutoLeather Inc., Leather Resource of America, Inc., and Eagle Ottawa Inc. are US-based manufacturers of automotive interior leather, which are also recognised as industry leaders in the global market. Owing to such companies, North America will continue to hold more than 15% share of the global automotive interior leather market throughout the forecast period. Western Europe is also expected to be observed as dominant region, primarily for the presence of leading automotive interior leather manufacturers such as Scottish Leather Group Limited, WOLLSDORF LEDER SCHMIDT & Co. GmbH, Bader GmbH & Co. KG, BOXMARK Leather GmbH & Co KG, and Elmo Sweden. With more than 35% revenue share and key contribution from Malaysia’s D. K. Leather Corporation, Asia-Pacific excluding Japan (APEJ) region will remain the most-lucrative and largest region in the global market for automotive interior leather.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT:
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: www.futuremarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Expansion of Automotive Interior Leather Market Poised to Reflect a CAGR of 5.2% for 2016-2026 Period here

News-ID: 970101 • Views:

More Releases from Future Market Insights

Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Million by 2032
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolstered by a Robust 7.1% CAGR from 2022
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of the Metal Cans Industry, Catering to Health-conscious and Environmentally-aware Consumers
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033. The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 with a 4.8% CAGR
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute

All 5 Releases


More Releases for Leather

Nappa Leather Market Latest Trends and Future Growth Study by 2030 | ECCO Leathe …
The market research study labeled 'Nappa Leather market' gives a competent and in-depth evaluation of the current and potential market, as well as a study of product specification, display pattern, product type, and innovation research, taking into account central points, like facts and figures, income generated, piece of the overall industry and growth rate for each kind and application, Net Income, and key figures. Moreover, it provides an in-depth analysis
Synthetic Leather (Artificial Leather) Market Leading Trends 2019 | Alfatex, Amw …
Global Synthetic Leather (Artificial Leather) Market Research Report 2019-2025 provides the data of the market categorized by end-user sections, product sections, sales channels, regions, and import/export dynamics. The report offers a common platform with multiple opportunities to many firms, associations, industries, and other products and services providers. The report covers details about market size & forecast, growth drivers, emerging trends, market opportunities, and investment risks in over various segments in
Global Synthetic Leather (Artificial Leather) Market Growth 2019-2024
Market Research Report Store offers a latest published report on Synthetic Leather (Artificial Leather) Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. According to this study, over the next five years the Synthetic Leather (Artificial Leather) market will register a 3.7% CAGR in terms of revenue, the global market size will reach US$ 6335.1 million by 2024, from US$ 5484.1
Study Report Natural Leather Market by Revenue Forecast, Sales Volume and Geogra …
The global Natural Leather market will reach xxx Million USD in 2019 and CAGR xx% 2019-2024. Report covers Natural Leather Market manufacturers data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. Get Sample Papers on Natural Leather Market with Pages 78, Company Profiles 12 and Top Trends Report Now at http://www.rnrmarketresearch.com/contacts/request-sample?rname=2106817 . Report covers forecast and analysis for Natural
Global Leather Market 2018 Key Players: Garrett Leather, Winter Company, Buckski …
Leather Market: WiseGuyReports.com adds “Leather Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting 2025” reports tits database. Executive Summary This report researches the worldwide Leather market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions. This study categorizes the global Leather breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth rate, future trends,
Leather Market touching new levels - Demand, Rising Trends & Analysis by Top Pla …
HTF MI recently introduced Global Leather Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2025. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Winter Company, Garrett Leather, Buckskin Leather Company, Jinjiang Guotal Leather, ANTIC CUIR,