The rising desire for comfort and luxury in automobiles is the main factor driving the automotive suede material industry. This market's expansion is also being aided by the increased demand for automotive suede material coming from emerging nations like China, India, Brazil, and Mexico. Among the other factors propelling the expansion of this marketplace are the rising automobile manufacturing and the expanding automotive industry. This market's expansion is also anticipated to be aided by the expanding trend of personalisation and customisation in automobiles.
The automobile suede material market is necessary since it is utilised for a variety of things, including dashboards, headliners, door trims, and seat covers. Commercial vehicles like lorries and buses also utilise it. The suede-like material used in automobiles is velvety and pleasant to the touch. It is easy to clean and impermeable against marks and grime.
To give passengers comfort and luxury, the car industry uses automotive suede material. It is a plush, velvety fabric that resembles chamois or nubuck leatherette. Typically manufactured from polyester or nylon fibres, automotive suede material is available in a number of hues. It is frequently used to make consoles, headliners, door mouldings, and upholstery. Additionally, other uses for automobile suede include making flooring and steering angle coverings.
During the projection period of 2021–2031, the global automotive suede material market is anticipated to expand at a CAGR of 5.4%, reaching a recalibrated size of USD 623 million by 2031.
The main drivers of this market's expansion are the rising demands for luxury and comfort in both passenger cars and commercial vehicles. This market is expanding as a result of the significant demand for automotive suede material from developing nations like China, India, Brazil, and Mexico.
The market for automotive suede materials is constrained by the erratic prices of raw materials and the onerous environmental requirements. The price volatility of raw materials like vinyl esters, polyurethane, and acrylics is impeding this market's expansion. This market's expansion is further constrained by the strict environmental restrictions that forbid the use of synthetic suede materials. Nevertheless, throughout the anticipated period, the market for automotive suede material is anticipated to see fresh growth because of the increasing demand for electric automobiles.
COVID-19 Impact and Market Status
The Covid-19 epidemic is causing the demand for automobile suede materials to slow down. The shutdown that has been declared by several governments throughout the world has decreased vehicle production and, consequently, the need for automotive suede. The market is anticipated to rebound in the second half of 2021 as production activities gradually pick back up. Further, throughout the anticipated period, the market for automotive suede material is anticipated to benefit from the growing demand for electric automobiles.
The Seat Automotive Type emerged as the Most Booming Segment
The market for suede materials for automobiles is divided into categories based on type, including dashboards, door trims, headliners, and seats. Among all of these, automobile seat suede materials are the most popular product in this market and are anticipated to expand at a CAGR of 5.6% over the course of the projected year. Due to their ability to bring comfort and luxury to the passengers, automobile suede materials are frequently utilised in seats.
The Most Prominent Application Segment is the Passenger Cars
Commercial vehicles and passenger cars make up the two application-based market segments for automotive suede materials. With regard to these two applications, passenger automobiles had the greatest market share in 2020 and are anticipated to expand at a CAGR of 5.4% during the following five years. This market's expansion is being driven by the growing demand for luxury vehicles coming from developing nations like China, Brazil, Mexico, and India.
The Most Lucrative Service Segment is the OEM
The automotive suede material market is further divided into OEM and Aftermarket categories based on Services. Over the course of the projected period, the OEM market is anticipated to expand at a CAGR of 5.6%. The increase in demand for luxury and comfort vehicles from OEMs and government laws requiring suede materials in particular applications are both credited for the surge.
The North American Region to render Ample Financing Opportunities
The automotive suede material market is further divided into North America, South America, Europe, Africa, Asia Pacific, and the Middle East based on geography. Asia-Pacific is predicted to experience the largest CAGR growth among all of these regions throughout the projection period. This market is expanding in the Asia-Pacific region as a result of the expanding automotive sector in nations like China, Japan, and India.
With numerous international and local companies, the automobile suede material market is consolidated. Magna International Inc., 3M Company, Borgers SE & Co. KGaA, Adient plc, BASF SE, Henkel AG & Co. KGaA, Jtekt Corporation, Denso Corporation, Nissan Chemical Industries Ltd., Toyoda Gosei Co., Ltd., and Lear Corporation are some of the major companies in this industry. To bring new items to the market, these firms are continually inventing and spending money on development and testing.
Recent Developments in the Automotive Suede Material Market
• Leading automobile seat supplier Adient announced the debut of its new line of vegan leather products in June 2021. The new product line is created with eco-friendly materials and is intended to satisfy the demands of clients who are vegan and concerned about the ecosystem.
• Leading car interior supplier Futuris announced the debut of its new line of high-end vegan leather products in May 2021. The new product range was created with vegans and eco-conscious consumers in mind and is composed of recycled resources.
• Leading vehicle seat manufacturer Lear Corporation announced the debut of its new line of high-end vegan leather products in April 2021. This same new line of products is created with eco-friendly materials and is intended to satisfy the demands of clients who are vegetarians and worried about the world.
Automotive Suede Material Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 623 million|
|Growth Rate||CAGR of 5.4 % during 2022-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Magna International Inc., 3M Company, Borgers SE & Co. KGaA, Adient plc, BASF SE, Henkel AG & Co. KGaA, Jtekt Corporation, Denso Corporation, Nissan Chemical Industries Ltd., Toyoda Gosei Co., Ltd., and Lear Corporation|
Key Segments of the Global Automotive Suede Material Market
Type Overview, 2021-2031 (USD Billion)
• Door Trims
Application Overview, 2021-2031 (USD Billion)
• Passenger Car
• Commercial Vehicle
Services Overview, 2021-2031 (USD Billion)
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
• South Africa