DUBLIN–(BUSINESS WIRE)–The “Automotive Upholstery – Global Market Trackory & Analytics”Report has been added ResearchAndMarkets.com’s offering.
Global Automotive Upholstery Market Will Reach US$5.2 Billion By 2026
The global market for automotive upholstery, valued at US$3.6 billion in 2020, is expected to grow at 6.6% annually by 2026.
The automotive upholstery market is expected to grow due to the increased safety and comfort of seat covers. Car interiors are being designed to improve comfort and wellbeing, taking into account the amount of time that is spent driving each day. New textiles have improved micro encapsulation effects, high heat capacities, luminosity and reflectivity, as well as antibacterial effects.
This means that the use of these textiles in mid-range vehicles will increase from 20 to 35 kilograms and decrease in overall vehicle weight due to other factors. The most commonly used fabric is PET (polyamide (PA), polyester (rayon), and polypropylene (PP). However, this will change due to increased demand for fibers like aramid, viscose (rayon), polyamide (PA), and Polypropylene(PP). Women customers often have very specific needs. They want smart storage, easy parking, minimal maintenance, and custom interiors. This gives them huge options for interior customization.
Leather Segment to Reach $1.1 Billon by 2026
Synthetic Leather, which is one of the segments that were analyzed in the report’s analysis, is projected to grow at 5.5% CAGR to reach US$1.4 Billion before the end of the analysis period. After a detailed analysis of the business consequences of the pandemic as well as the induced economic crisis, the growth in Thermoplastic Polymers has been revised to a 6.9% CAGR for 7 years. This segment currently holds 22.6% of the global Automotive Upholstery Market.
Due to its elegant, luxurious, and durable nature, leather is the preferred choice by automakers for premium models. Leather upholstery is a luxurious and plush option for customers who want comfort and attractive interiors. It can be easily patterned and colored, and is easy to clean.
The 5.7% CAGR for the global Leather segment will be driven by the USA, Canada Japan, China, Japan and Europe. These regional markets, which together account for US$527.8 million in market share in 2020, will be projected to reach US$817.6 million by the end of the analysis period.
China will continue to be one of the fastest-growing regional markets. Australia, India and South Korea are leading the Asia-Pacific market. By 2026, it is expected to reach US$237.5 million. Latin America will expand at 7.9% CAGR during the analysis period.
The U.S. Market is estimated at $717.7 million in 2021. China is forecast to reach $1.2 billion by 2026.
The U.S. Automotive Upholstery market is expected to reach US$717.7M by 2021. The country currently has a 19.3% market share.
China, the second-largest economy in the world, is expected to have a market size of US$1.2 billion by 2026, a growth rate of 9.2% over the analysis period.
Canada and Japan are two other notable geographic markets. They are each expected to grow at 3.3% CAGR and 3.9%, respectively, over the analysis period. Germany is projected to grow at 4.8% CAGR within Europe while Rest of European Market (as defined in this study) will reach US$1.4 Billon by the end.
Key Topics Covered
1. MARKET OVERVIEW
- A Review of the Changing Automobile Business Models and the Growing Role Of Innovative Component Suppliers In The Supply Chain
- The Race Between Virus & Vaccines is intensifying. What is the future of the global economy in 2021 amid this chaotic battle?
- These are Times when Questions Abound and Answers Are Few
- How fast or slow do we move?
- Most Companies are optimistic about an economic comeback, despite the ongoing pandemic, according to IMF’s upward revision of global GDP forecasts for 2021.
- How the Pandemic Affected the Automotive Industry and What’s the New Normal?
- Unprecedented disruptions in the supply chain caused by COVID-19 accelerate the need to rethink supply chain management
- What are OEMs doing to respond?
- Automotive Upholstery: Definitions of Types and Importance
- Here’s How the Market Is Changing & Evolving
- Recent Market Activity
2. FOCUS ON SELECTOR PLAYERS (Total of 89 Featured).
- Auto Textile SA
- CMI Enterprises
- Gilbreath Upholstery Supply
- Gruppo Mastrotto SpA
- Katzkin Leather, Inc.
- Lear Corporation
- MARTUR FOMPAK International
- Marvel Vinyls Limited
- Moorestown Auto & Boat Upholstery Inc.
- Sage Automotive Interiors
- Seiren Co., Ltd.
- SMS Auto Fabrics
- The Haartz Corporation
- Toyota Boshoku Corporation
3. MARKET TRENDS & DRIVERS
- Production is halted by Chip Shortages, which hinders the long-awaited and robust recovery of the Automotive Industry
- Big Blow to Planned Product Impacts All in the Supply Chain
- Shortages in the Region (In 000 Units) as of August 20,21
- Chip Shortage to Strike Auto OEMs in 2022
- Long Gestation Periods for Capacity Expanding, a Prime Factor Challenge a Rapid Supply Rebound
- Automakers Had No Other Choice But to Continue the Pain
- Automotive Lightweighting Trend Drives Demand for Lightweight Fabrics & Textiles
- Green Textiles to Have a Big Impact on Market
- Expanding role of Nanotechnology in Automotive Textiles/Upholstery
- Increasing Use of Carbon Fiber: A Key Trend on the Market
- Nonwoven Upholstery: A Bright Future
- Auto OEMs and Their Customers Say No To Noise
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information, visit this report https://www.researchandmarkets.com/r/y3li6o