Valued to be $5.2 Billion by 2026, Automotive Upholstery Slated for Robust Growth Worldwide

BY PR Newswire | ECONOMIC | 11/16/21 11:31 AM EST

SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ --?A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled?"Automotive Upholstery - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Automotive Upholstery

FACTS AT A GLANCE
Edition:?4;?Released:?October 2021
Executive Pool:?1113
Companies:?89 - Players covered include 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.; Morbern; Sage Automotive Interiors; Seiren Co., Ltd.; SMS Auto Fabrics; The Haartz Corporation; Toyota Boshoku Corporation and Others.
Coverage:?All major geographies and key segments
Segments:?Material (Synthetic Leather, Thermoplastic Polymers, Leather, Automotive Textiles, Smart Fabric, Plastic); Application (Seat Cover, Carpet, Roof Liner, Dashboard, Trunk Line, Sun Visor)
Geographies:?World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Automotive Upholstery Market to Reach US$5.2 Billion by the Year 2026
Automotive textile consumption stands at an unbelievable 1,50,000 tons per annum in Western Europe, closely followed by USA and Japan. It is estimated that an average car uses twelve to fourteen kilograms of textiles. Most of it is used for carpets, door liners, roof and seat cover and some for other parts of the vehicle.?Automobile upholstery market is poised to grow with the need for better safety and comfort for seat covers.?Considering the time spent driving every day, car interiors are being improved to give living room comfort and wellness. Improved textiles have been developed to have micro encapsulation effect, high heat capacity, luminosity, reflectivity, antibacterial effects and temperature dependent air permeability. With this, the use of such textiles in mid-range vehicles is poised to increase from 20 kilograms to 35 kilograms, with a decrease in overall weight of vehicle due to other factors. Polyester or PET is the fabric used to a great extent until now but this is bound to decline due to the demand for fibers such as aramid, viscose (rayon, polyamide (PA) and Polypropylene (PP)).?Women customers often have unique needs such as smart storage, easy to park, minimum maintenance and customized interiors, providing huge opportunities for car interior customization.

Amid the COVID-19 crisis, the global market for Automotive Upholstery estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$5.2 Billion by 2026, growing at a CAGR of 6.6% over the analysis period. Synthetic Leather, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$1.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thermoplastic Polymers segment is readjusted to a revised 6.9% CAGR for the next 7-year period. This segment currently accounts for a 22.6% share of the global Automotive Upholstery market.

The U.S. Market is Estimated at $717.7 Million in 2021, While China is Forecast to Reach $1.2 Billion by 2026
The Automotive Upholstery market in the U.S. is estimated at US$717.7 Million in the year 2021. The country currently accounts for a 19.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.2 Billion in the year 2026 trailing a CAGR of 9.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$1.4 Billion by the end of the analysis period.

Leather Segment to Reach $1.1 Billion by 2026
Leather represents the preferred choice of automakers for premium models owing to its stylish, luxurious and durable nature. Leather represents the preferred choice of automakers for premium models owing to its stylish, luxurious and durable nature. Being plush and luxurious in nature, leather upholstery is the best option for customers seeking comfort and appealing interiors. The stylish material can be easily patterned or colored, is convenient to clean and boasts superior stain resistance. In the global Leather segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$527.8 Million in the year 2020 will reach a projected size of US$817.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$237.5 Million by the year 2026, while Latin America will expand at a 7.9% CAGR through the analysis period. More

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