Los Angeles, October 30, 2019 –QY Research has added a new report to its repository of automobile and transportation research studies. Titled “Automotive Interior Leather Market” the report includes accurate forecasts and estimations for the China automotive interior leather market. According to the report, the China automotive interior leather market could register a moderate CAGR of 4.76% between 2019 and 2025. By the end of 2025, the global market revenue is expected to reach over US$2.0 Bn, improving from above US$1.0 Bn touched in 2018. Demand for automotive interior leather could improve due to increased retrofitting of cars with leather upholstery and need to enhance aesthetic appeal of vehicles.
Increasing Automotive Manufacturing Activities in China Anticipated to Boost Demand
Rising automobile production could be a primary factor augmenting the demand in the China automotive interior leather market. Demand for synthetic leather could improve as it is an inexpensive alternative to genuine leather. Moreover, some automotive manufacturers have started to shift away from animal-based materials due to animal welfare and sustainability concerns. Use of automotive interior leather may increase in passenger cars in China. However, the negative health and environmental impact of the tanning process involved in animal leather production could create growth risks for the China automotive interior leather market. Even when producing artificial leather, toxic by-products such as dioxins are released in the environment.
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Synthetic Leather Expected to Gain Demand due to Advantages over Genuine Leather
Genuine leather is still in use in the automotive industry, especially for interiors of premium cars, despite the trend of vegan leather. On the other hand, synthetic leather is predicted to become a popular product type segment of the China automotive interior leather market due to improvement in product performance, technological developments, higher production cost of natural leather, and other factors. The report also offers comprehensive analysis of important applications of automotive interior leather in China such as consoles, door trims, headliners, seats, and others. Application of automotive interior leather is anticipated to increase in automotive upholstery in China.
Advancement of Automobile Industry Predicted to Work in Favor of China Market
Rapid growth of the automotive industry in Asia Pacific is likely to reflect positively on the China automotive interior leather market. Increasing demand for automobiles and high automobile sales are anticipated to create rewarding market opportunities for automotive interior leather manufacturers in China. Automotive interior leather manufacturers could show interest in the China market because of certain advantages such as easy availability of resources. Expansion of automotive manufacturing capacity and launch of high number of luxury cars could be other growth drivers of the China automotive interior leather market.
Manufacturers Likely to Launch More Innovative Products to Maintain Customer Loyalty
Some of the key manufacturers operating in the China automotive interior leather market are Eagle Ottawa, Boxmark, Bader GmbH, Foshan Wise Star Plastics, Midori Auto Leather, Sichuan Zhenjing Corp, Haining Schinder Tanning, Fujian Polytech Technology, Kyowa Hing Plastic, Benecke-Kaliko, Fubang Automotive Interior Tech, and Mingxin Automotive Leather.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.