Global Automotive Interior Bovine Leather Market, By Application (Upholstery/Seat Covers, Doors, Dashboard and Headliners, Steering Wheel, Floor Mats/Carpets, Others), By Vehicle Type (Passenger Vehicles (Economic, Mid-priced, Luxury), Heavy Commercial Vehicles, Light Commercial Vehicles), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2028, is expected to be valued at US$ 7,989.28 million by 2028, exhibiting a CAGR of 3.8% during the forecast period (2021 - 2028), as highlighted in a report published by Coherent Market Insights.
Bovine leather is the most common source of leather. The surface skin of a bull or cow is utilized in processing bovine leather. Bovine leather is excellent for its appearance, texture, durability, and comfort. Leather from cows is relatively easy to maintain. It is resistant to dirt and water. Bovine leather is very popular in automotive interior applications, due to its affordability..
The Global Automotive Interior Bovine Leather Market was accounted for US$ 5,689.9 Mn in terms of value in 2019 and is expected to grow at a CAGR of 3.8% for the period 2021-2028.
The demand for luxury car is increasing due to rising consumer preference for luxury cars and the increasing per capita income of consumers. For instance, according to The World Bank Group, GNI (Gross National Income) of China in the year 2010 was US$ 4,340, which increased up to US$ 10,410 in the year 2019. This is expected to boost demand for bovine leather for luxury cars over the forecast period.
Furthermore, many customers prefer to buy cowhide leather from after-market and customize the interior of the vehicle. For instance, leather manufacturers are offering bovine leather that can be used for increasing the comfort and luxurious appearance of commercial vehicles. For instance, leather manufacturers such as Hideitala and Lantal Textiles AG are offering premium bovine leather for buses. This bovine leathers can be used for seat covers, headrest covers, antimacassars, and armrests.
Global Automotive Interior Bovine Leather Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has significantly disrupted almost all the industries including infrastructure, retail, manufacturing, logistics, and others. To combat COVID-19 pandemic, several governments across the globe such as U.S., France, India and Italy have imposed nationwide lockdown to restrict the spread of COVID-19 disease. For instance, Government of India have imposed lockdown from 1 June to 1 July until the further notice. Owing to the Lockdown, the demand from end-use industry i.e. automotive industry has also decreased sharply.
Key Trends and Analysis of the Global Automotive Interior Bovine Leather Market:
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Major companies operating in the global automotive interior bovine leather market are: Bader GmbH & Co. KG, Bovine Leather, Carroll Leather, GST Autoleather Co. Ltd., Classic Soft Trim, Ctl Leather Inc., Eagle Ottawa, Llc (Lear Corporation), and Gruppo Mastrotto spa