Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Automotive Interior Leather Market (By Vehicle: Passenger Cars, Light Commercial Vehicles, Trucks & Buses; By Material: Genuine, Synthetic; By Application: Upholstery, Headliners, Carpet, Seat Belt, Other) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, Feb. 20, 2019 (GLOBE NEWSWIRE) -- The global automotive interior leather market size is anticipated to reach USD 47.2 billion by 2026, registering at a CAGR growth of 6.9% over the forecast period.
Blast in car manufacturing industry, especially in rising economies of Asia Pacific, combined with ascend sought after for counterfeit calfskin is ready to drive the market over the conjecture time frame.
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Impressive move in buyer inclination towards fake cowhide for applications in the car business is probably going to drive the market over the conjecture time frame. Improvement of bio-based cowhide is additionally foreseen to unfurl abundant development open doors for the market. Sustainable bio based sources utilized for assembling of bio based variations incorporate cellulose and vegetable oil. Oil based and other dangerous synthetic compounds are not consolidated into its generation procedure.
Upholstery ruled the worldwide car inside cowhide showcase in 2017 and is required to keep up its situation over the figure time frame. Huge reception of the item in insides as an upholstery material is driven by different benefits offered by it, for example, milder feel, premium completion, and strength. Market players are occupied with providing units that contain pre-sewn upholstery covers planned according to every vehicle require.
Calfskin is among the most favoured materials for assembling car cover. It is a normally inferred material, which is strong and conveys a superior completion to the vehicle. They are anything but difficult to keep up and simple to clean. A few remarkable properties bestowed by it, for example, non-abrasiveness and capacity to repulse recolour are assessed to expand the interest for car inside calfskin in cover application.
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The global automotive interior leather market is segmented into vehicle, material, application and region. On the basis of vehicle, the global automotive interior leather market is segmented into hardware, service, and connectivity. Passenger Cars, Light Commercial Vehicles, and Trucks & Buses. On the basis of material, the global automotive interior leather market is segmented into Genuine, and Synthetic. On the basis of application, the global automotive interior leather market is segmented into Upholstery, Headliners, Carpet, Seat Belt, and Other. On the basis of region the global automotive interior leather market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
Geographically, the automotive interior leather market is bifurcated into Europe, Asia Pacific, North America, MEA, and Latin America. North America, followed by Europe, is anticipated to capture the major share in the automotive interior leather market. This development is credited to increasing acceptance of latest technologies, and the occurrence of research and development centers. Asia Pacific is anticipated to observer lucrative during the forthcoming years crediting to increase in disposable income, improvised technology infrastructure, increasing need for better and advance technology solution.
Asia Pacific is anticipated to observer the highest CAGR of 7.3% during the forecast timeframe. Growing safety awareness, rising need for smart automotive gadgets, and growing disposable income are expected to increase the development of the regional automotive interior leather industry.
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Asia Pacific is anticipated to observer the highest CAGR during the forecasted timeframe. Growing disposable income are expected to increase the development of the regional automotive interior leather industry. North America captures the market in 2018 owing to increase in continuous launch of new product portfolio associated to automotive interior leather by main key players. Also, inventive marketing strategies being accepted by main companies to encourage and automotive interior leather market and associated products are expected to inspire end users to accept these products, which in turn will stimulate the development of the regional automotive interior leather market.
The key players catering to the global automotive interior leather market are Tata International Ltd., Alphaline Auto, Nan Ya Plastics Corporation, Eagle Ottawa LLC, Wollsdorf Leder Schmidt & Co Ges.m.b.H, and San Fang Chemical Industry Co., Ltd. The global players are continuously investing in R&D and innovating new product portfolio to attract more and more business opportunity from the emerging nation such as India and China. Also, Increasing R&D investments coupled with technological advancements to commercialise highly efficient products are anticipated to offer lucrative opportunities for industry participants.
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