Global Automotive Artificial PVC Leather Market Insights Forecasts to 2030
- The global Automotive Artificial PVC Leather Market was valued at USD 1,250 Million in 2021.
- The market is growing at a CAGR of 3.0% from 2022 to 2030
- The global Automotive Artificial PVC Leather Market is expected to reach USD 1,630 Million by 2030
- Europe is expected to grow the fastest during the forecast period
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The global Automotive Artificial PVC Leather Market is expected to reach USD 1,630 Million by 2030, at a CAGR of 3.0% during the forecast period 2021 to 2030. The growing market for the automobile industry in emerging countries and the benefits given by artificial leather over traditional are essential reasons for supporting the growth of Automotive Artificial Leather. Also, increased acceptance of PVC leather supports the growth of Automotive Artificial Leather.
PVC is used extensively in low-end vehicles, such as motorbikes, buses, lorries, and agricultural vehicles, prioritizing cost-effectiveness as one of their primary criteria. In addition, the lower price of PVC leather has contributed to increased demand for the material in the automotive industry. PVC leather is used in manufacturing various interior components, including seats, airbags, belts, seat covers, steering covers, door panels, dashboards, rear shelves, and other interior trims.
There are prospects in both the passenger and commercial car categories, which look well for the future of the global market for PVC artificial leather used in the automotive industry. The expansion of the automobile seating sector is directly proportional to the increase in demand for synthetic leather used in vehicle seats. According to European plasticizers, the typical automobile of today contains more than a thousand plastic components, and around 12 percent of those components are comprised of soft PVC. The automobile sector in India is expanding at a rapid pace, and a great number of multinational corporations are building up production facilities in a variety of states all across the country. Because of its low price and the fact that it looks and feels just like real leather, PVC leather is frequently utilized in the automotive industry in India. This is because consumers like the look and feel of leather. PVC leather produces these automobiles' hoods, seats, and advertising materials. Within the automobile industry in India, Marvel is widely regarded as the most reliable provider of PVC sheets. PVC artificial leather is also being used by a significant number of luxury automobile manufacturers. Mercedes' leather product is referred to as 'Artico leather with the remark,' man-made leather,' so as not to mislead customers. Both Mercedes-Benz and BMW have been providing customers with the option of vinyl seats in a variety of their best-selling automobiles for decades. In the American Academy of Neurology 2021, a study represented at the Virtual Annual Meeting found that those who suffer from headaches do not respond to therapy with intranasal ketamine spray.
This research report categorizes the global automotive artificial PVC leather market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global automotive artificial PVC leather market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global automotive artificial PVC leather market sub-segments.
Global Automotive Artificial PVC Leather Market Report Coverage
|Market Size in 2021:||USD 1,250 Million|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||3%|
|2030 Value Projection:||USD 1,630 Million|
|Historical Data for:||2017 - 2020|
|No. of Pages:||198|
|Tables, Charts & Figures:||102|
|Segments covered:||By Type, By Application, By Region|
|Companies Covered:||Benecke Kaliko, Kyowa Leather Cloth, Canadian General Tower (CGT), Vulcaflex, Scientex Berhad, Achilles USA, Inc.,Mayur Uniquoters, Fujian Polytech Technology, Leo Vinyls, MarvelVinyls, Premier PolyfilmsLimited, Polyfabs, HR Polycoats and Wellmark Co., Ltd.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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- In 2021, the Seat Leather segment dominated the market with the largest market share of 35% and market revenue of 437.5 Million.
Based on the type, the Automotive Artificial PVC Leather Market is categorized into Seat Leather, Door Panel Leather, and Instrument Panel Leather. In 2021, the seat leather segment dominated the market with the largest market share of 35% and market revenue of 437.5 Million. Within this market sector, the seat leather segment had a dominant position. PVC is preferred over other materials for use as seat leather because of its longevity, resilience, resistance to UV rays, high sheen, and low maintenance requirements. The low cost of PVC is another factor that pushes the usage of the material in low-end automobiles. PVC fulfills functions at a low price point without sacrificing aesthetics, which makes it an attractive option.
- In 2021, the Aftermarket segment accounted for the largest share of the market, with 55% and a market revenue of 687.5 Million.
Based on application, the Automotive Artificial PVC Leather Market is categorized into OEM and Aftermarket. In 2021, aftermarket dominated the market with the largest market share of 55% and market revenue of 687.5 Million. The application sector of the market is controlled almost entirely by the aftermarket. The affordability of PVC has led to its widespread use in the aftermarket industry. For instance, the leather on the seats of a truck can be refinished for between USD 1,500 and USD 2,000, whereas purchasing leather as part of the truck's original equipment would cost at least USD 5,000 more. The possibility of customization is another factor contributing to the allure of PVC artificial leather in the aftermarket segment.
Regional Segment Analysis of the Automotive Artificial PVC Leather Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, Asia- Pacific emerged as the largest market for the global automotive artificial PVC leather market, with a market share of around 37% and 1,250 Million of the market revenue in 2021.
- In 2021, Asia- Pacific emerged as the largest market for the global automotive artificial PVC leather market, with a market share of around 37% and 1,250 Million of the market revenue. The expansion of this region is being led by China, with significant contributions also coming from Japan and India. The ease with which the most recent technology may be accessed, the abundance of resources that are now available, and the increasing market share of luxury automobiles in China are some of the important drivers that are driving market expansion in this region. Japan, India, Bangladesh, and China have all seen substantial improvements in their capacity to manufacture motor vehicles, coinciding with rising living standards and higher rates of economic expansion. The robust presence of many original equipment manufacturers and aftermarket companies in Asia-Pacific increases the market growth.
- The Europe market is expected to grow at the fastest CAGR between 2022 and 2030. It is anticipated that the recovery of the European car industry will be one of the primary factors that will boost demand for PVC leather in the automotive sector. With the increasing use of artificial leather in luxury automobiles, German luxury automobile manufacturers such as BMW, Mercedes, and Audi have begun employing artificial leather in the upholstery of their vehicles. The increasing popularity of veganism and the subsequent shift toward products not derived from animals.
The report offers the appropriate analysis of the key organizations/companies involved within the global automotive artificial PVC leather market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Benecke Kaliko
- Kyowa Leather Cloth
- Canadian General Tower (CGT)
- Scientex Berhad
- Achilles USA, Inc.
- Mayur Uniquoters
- Fujian Polytech Technology
- Leo Vinyls
- Premier PolyfilmsLimited
- HR Polycoats and Wellmark Co., Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In 2019, Eli Lilly and Company, get approval from the food and drug administration for Galcanezumab, which is used as an antibody for cluster headaches.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global automotive artificial PVC leather market based on the below-mentioned segments:
Global Automotive Artificial PVC Leather Market, By Type
- Seat Leather
- Door Panel Leather
- Instrument Panel Leather
Global Automotive Artificial PVC Leather Market, By Application
Global Automotive Artificial PVC Leather Market, Regional Analysis
- North America
- The US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Automotive Artificial PVC Leather market?As per Spherical Insights, the size of the Automotive Artificial PVC Leather market was valued at USD 1,250 million in 2021 to USD 1,630 million by 2030.
What is the market growth rate of the Automotive Artificial PVC Leather market?The Automotive Artificial PVC Leather market is growing at a CAGR of 3% from 2021 to 2030.
Which country dominates the Automotive Artificial PVC Leather market?Asia- Pacific emerged as the largest market for Automotive Artificial PVC Leather.
Who are the key players in the Automotive Artificial PVC Leather market?Key players in the Automotive Artificial PVC Leather market are Benecke Kaliko, Kyowa Leather Cloth, Canadian General Tower (CGT), Vulcaflex, Scientex Berhad, Achilles USA, Inc., Mayur Uniquoters, Fujian Polytech Technology, Leo Vinyls, MarvelVinyls, Premier PolyfilmsLimited, Polyfabs, HR Polycoats, and Wellmark Co., Ltd.
Which factor drives the growth of the Automotive Artificial PVC Leather market?The advantages of artificial leather over conventional are expected to drive the market’s growth over the forecast period.
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