by The automotive upholstery market provides high quality and durable fabric and leather materials for automotive seats, door panels and headliners. It ensures comfort and safety of passengers by creating an appealing ambience inside vehicles. Advancements in fabric materials now offer better moisture wicking, heat resistance and stain resistance properties.
The Global Automotive Upholstery Market is estimated to be valued at US$ 8.03 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the automotive upholstery are Adient PLC, BASF SE, Faurecia SE, Freudenberg Group, Grupo Antolin Irausa, S.A., Lear Corporation, MarvelVinyls, Sage Automotive Interiors, SEIREN Co., Ltd., Seating Incorporateds, Suminoe Textile Co., Ltd. Key players are focusing on developing innovative and sustainable materials to meet customer demand for personalized interior designs.
The growing demand for premium and luxury vehicles equipped with advanced features is driving the need for superior upholstery materials. Manufacturers are offering various design options, textures and customization capabilities to cater to changing consumer preferences.
The Automotive Upholstery Market Growth is witnessing strong growth in regions like Asia Pacific and Latin America led by increasing vehicle production and sales. Key participants are expanding their global footprint by enhancing production capacities and distributing facilities across major markets.
Market Key Trends
One of the major trends gaining traction in the Automotive Upholstery Market Size And Trends is the rise of sustainable materials. With growing environmental consciousness, OEMs are actively collaborating with material developers to offer bio-based, recycled and lightweight upholstery solutions. Alternatives like pineapple leaf fibre, cork vinyl and spun bonded non-woven are helping reduce dependence on leather and conventional plastic ingredients to lower carbon footprint. Their superior properties also meet industry standards for durability, appearance and comfort.
Porter’s Analysis
Threat of new entrants: The automotive upholstery market requires high initial investments and established supplier relationships, posing a barrier to entry for new players.
Bargaining power of buyers: Buyers in the form of automotive OEMs have significant bargaining power due to the consolidated nature of the industry.
Bargaining power of suppliers: The presence of many material and component suppliers limits their individual bargaining power.
Threat of new substitutes: There are limited substitutes for automotive upholstery currently.
Competitive rivalry: The market is fragmented with the presence of many international and regional players competing on product quality, pricing and innovation.
The automotive upholstery market in terms of value is currently concentrated in Asia Pacific, led by countries such as China, India, and Japan. Asia Pacific accounts for over 40% of global automobile production. Rapid income growth and increasing vehicle ownership in the region have boosted demand for automotive upholstery materials.
The Middle East and Africa is projected to be the fastest growing geographical market for automotive upholstery during the forecast period. This can be attributed to rising vehicle production and sales across countries like Saudi Arabia, South Africa, and Turkey to meet the replacement demand of growing vehicle parc in the region. Moreover, factors such as rising construction activities and infrastructure development are improving the economic prospects of many African countries, making vehicles more affordable.
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*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
