Vegan Interior Leather is Fastest Growing Segment Fueling the Growth of Automotive Interior Bovine Leather Market

 

Automotive Interior Bovine Leather Market

Market Overview:

 

The global Automotive Interior Bovine Leather Market is estimated to be valued at US$ 6605.32 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Bovine leather is mainly used for automotive interior components such as upholstery, dashboard, headliners, armrest and door panels due to its premium and aesthetic look. It provides superior comfort, durability and breathability inside the vehicle. Due to its quality and luxury appeal, bovine leather remains one of the preferred materials for automotive interiors.

 

Market key trends:

Growing demand for vegan leather: Vegan leather which is synthesized from materials like polyurethane, polyvinyl chloride and other plant based components is emerging as an alternative to bovine leather in automotive interiors due to rising animal welfare concerns. It offers comparable texture and appearance to real leather without harming animals. According to PETA, vegan leather production is 10 times more environmentally friendly than animal-based leather.

 

Segment Analysis

The global automotive interior bovine leather market is segmented on the basis of type, vehicle type and region. Based on type, suede segment dominates the market and accounts for around 30% share owing to its soft texture and appealing look. Suede leather feels great and is very durable, which is why it is the preferred choice in luxury and premium cars.

 

Key Takeaways

The Global Automotive Interior Bovine Leather Market Share market is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing consumer preference for luxury vehicles and higher comfort level offered by leather interiors.

 

Regional analysis

Europe holds the largest share in the global automotive interior bovine leather market. The region accounts for around 35% share owing to presence of major luxury car manufacturers in Germany, France, UK, Italy and high affordability. Asia Pacific exhibits the fastest growth due to increasing sales of luxury vehicles in China and India.

 

Key players

Key players operating in the automotive interior bovine leather market are Bader GmbH & Co. KG, Bovine Leather, GST Autoleather Co. Ltd., Classic Soft Trim, Ctl Leather Inc., Eagle Ottawa, Llc (Lear Corporation), and Gruppo Mastrotto spa. Bovine Leather and GST Autoleather capture around 35% share of the global market owing to strong distribution network and ability to cater to OEMs as well as aftermarket.

Get More Insights Here

https://www.newsstatix.com/automotive-interior-bovine-leather-market-share-size-forecast-outlook-2023-2030/

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