Automotive Suede Material Market Report Overview
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The global automotive suede material market size was USD 507.7 million in 2021 and is expected to reach USD 892.72 million in 2031, exhibiting a CAGR of 5.8% during the forecast period.
Suede is a type of velvet fabric, and it contains a layer of 0.2mm nap on its surface, giving it a very pleasant feel. can be separated into fake suede and true suede. Many characteristics of artificial suede fabric are on par with or even superior to those of genuine suede, such as its wool feel, which is soft, sensitive, sticky, has superb drape, and may have either a thick or thin optional texture. Suitable for apparel, home textile (sofa fabric), bags, shoes (lining, fabric), automobile interior, clean cloth (eyeglasses cloth), leather cloth, premium packing boxes, and lighting materials, suede has a wide variety of uses. The majority of automotive surfaces made with suede include the roof, door panels, seats, instrument panels, steering wheels, and handles.
The materials used inside automobiles are called automotive suede material. The main materials used in automobile interiors include fabric, plastics, real leather, and synthetic leather. The main factor propelling the automotive suede material market growth is the increased emphasis on reducing the total weight of cars to maximise fuel economy. The need for automotive suede material is further increased by the increased use of fabric in the global automotive industry. By using lightweight polymers and composites in dashboards, instrument panels, and flooring components, major automakers want to reduce carbon emissions. Furthermore, the automotive suede material market share is anticipated to benefit from the rapid use of green technologies for the production of automotive leather.
COVID-19 Impact: The Pandemic had a Detrimental Effect on the Supply Chain and Market Dynamics
The global COVID-19 pandemic has been unprecedented and staggering, with automotive suede material market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic had a detrimental effect on the automotive suede material supply chain and general market. Additionally, as precautionary measures, governments in several nations put limits on residents' mobility and temporarily shut down manufacturing facilities in important industries like the automobile. The chemical, refinery & petrochemical, metal, and power generating industries are all very important to the industry. Global industrial activity was badly impacted by strict lockdowns. Additionally, a number of nations throughout the world temporarily prohibit international commerce, which has a detrimental effect on the automotive suede material market growth. But in the future, it is anticipated that vaccination campaigns and the removal of curfews would fuel the expansion of the automotive suede material market.
Latest Trends
"Growing Demand for Advanced Airbag Fabrics"
Based on application, the airbags sector is predicted to dominate the market for automotive suede material market. Rising consumer demand for cutting-edge car safety technology is primarily responsible for growth. The usage of airbags in vehicles is subject to increasingly severe safety standards, which is also expected to increase demand for automotive suede material market internationally. Over the course of the projected period, the automotive suede material market will see growth due to the automotive industry's existing rapid rise. Vehicle demand is impacted by the rising need for airbag materials, and vice versa. Airbag fabric demand is primarily being driven by a number of factors, including increased auto production due to rising disposable income, an increase in the number of airbags installed in each vehicle, the introduction of stricter safety regulations, and the pressing need for affordable fabrics in developing nations.
Automotive Suede Material Market Segmentation
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- By type
Depending on automotive suede material market given are types: seat, headliners, door trims, dashboard and others. The seat type will capture the maximum market share through 2028.
- By Application
The market is divided in passenger car and commercial vehicle based on application. The global automotive suede material market players in cover segment like passenger car will dominate the market share during 2022-2028.
Driving Factors
"Growing Demand for Environmentally Friendly Automobile Fabric Materials to Drive Market Expansion."
The primary driver anticipated to drive automotive suede material market growth is the rising usage of environmentally friendly automotive fabric materials like polyester, which is recyclable and one of the most affordable textiles. Another reason driving up demand for automotive suede material is the growing use of non-woven materials for vehicle carpeting and floor coverings, which is anticipated to drive automotive suede material market share development. Recycled polyethylene terephthalate is used to create non-woven automobile carpets, which enhance sustainability and resource efficiency while lowering environmental pollution. During the projected period, this is anticipated to boost demand for non-woven textiles and propel revenue growth in the automotive suede material.
"High Demand for Non-woven Fabrics to boost market share"
The usage of more environmentally friendly automotive fabric materials, such as polyester, one of the most economical and recyclable fabrics, is anticipated to increase demand for automotive suede material globally over the next 10 years. The growing demand for non-woven materials for vehicle carpets and floor coverings is another significant factor that would be positive for the global industry. Recycled polyethylene terephthalate is used to create non-woven automotive carpets, which promote sustainability and resource conservation while lowering environmental pollution. Over the course of the forecast year, it is anticipated that this feature will boost non-woven fabric demand and propel revenue growth in the automotive suede material.
Restraining Factors
"Lack of Hydrophobic Qualities to Hamper Market Growth"
Growing worries about the poor moisture absorption of some vehicle textiles might impede the growth of the worldwide market for automotive suede material. Some of the synthetic materials utilised in automotive applications have hydrophobic qualities, which may lead to inadequate moisture absorption and hence limit product acceptance. Some automobile textiles are not biodegradable, which prevents nature from organically disposing of the materials, which is another concern that can limit automotive suede material market growth. The development of the automotive textiles market during the assessment period may be slightly hampered by growing customer interest in using eco-friendly car fabric materials.
Automotive Suede Material Market Regional Insights
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"Asia Pacific is Expected to Account for Largest Revenue Share in the Global Automotive Fabric Market "
Rising demand for high-end automobiles and the quickening growth of the manufacturing sector are anticipated to boost the use of automotive textiles and fuel automotive suede material market expansion in this area. The Asia Pacific automotive suede material market is anticipated to see revenue growth thanks to rising concerns about the environmental effect of toxics emitted during the production of lighter automotive textiles and about vehicle safety. Demand for seat belts, airbags, and smart tyres is rising as customer interest in car safety increases. Other factors driving the region's automotive suede material market size growth include the region's increasing urbanisation, the region's strong key player presence, and the rising demand for high-end and luxurious textiles for car interiors.
Over the course of the projected period, the North American market is anticipated to maintain a constant revenue CAGR. Increased customer interest in adopting automotive suede material, which provide automobiles an attractive look, as well as an increase in the number of technical breakthroughs in the automotive sector are likely to propel automotive suede material market share in this area. Additionally, the region's countries are experiencing high product demand due to the growing need for automotive fabrics that are more effective and affordable, and the rapid adoption of new and more technologically advanced materials for the manufacture of lightweight vehicles is anticipated to propel the growth of the North American automotive suede material.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Alcantara S.P.A (Italy)
- Asahi Kasei Corporation (Japan)
- TORAY (Japan)
- Kolon Industries (South Korea)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 507.7 Million in 2021 |
Market Size Value By |
US$ 892.72 Million by 2031 |
Growth Rate |
CAGR of 5.8% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global automotive suede material market expected to touch by 2031?
The global automotive suede material market is expected to touch USD 892.72 million by 2031.
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What CAGR is the automotive suede market expected to exhibit during 2024-2031?
The automotive suede market is expected to exhibit a CAGR of 5.8 % over 2024-2031.
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Which are the driving factors of the automotive suede market?
Growing demand for environmentally friendly automobile fabric and high demand for non-woven fabrics are the driving factors of the automotive suede market.
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Which are the top companies operating in the automotive suede market?
Alcantara S.P.A, Asahi Kasei Corporation, TORAY, Kolon Industries are some of the top companies operating in the automotive suede market.