Press release
The Market of Automotive Airbag Fabric to grow at a healthy cumulative annual growth rate (CAGR) of 7.0% by 2021
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards
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An overview- demand for airbags in the automotive industry
The global automotive airbag fabric market is likely to grow at a healthy cumulative annual growth rate (CAGR) of 7.0% over the next five years. The demand for airbag is directly proportional to the demand for vehicles, hence, influencing the demand for airbag fabric as well. Increasing production of automobiles fueled by rising disposable income, increasing installation of airbags per car, introduction of more stringent safety standards, and demand for low cost fabrics are driving the airbag fabric market in the automotive industry.
Compact car: The growth engine
The automotive airbag fabric market is segmented based on vehicle type: Compact Car, Mid-size Car, Large Car, MPV & LCV, SUV, and Others. Compact car is expected to remain the largest airbag fabric market by vehicle type over the next five years, driven by increasing production in the Asia-Pacific and the European regions. The vehicle type (compact car) is also likely to witness the fastest growth during the same period, owing to rising demand in the Asia-Pacific region, mainly in Japan, China, and India, and highly congested cities in developed countries.
Dominance of: Curtain airbag & Polyamide 6.6
The automotive airbag fabric market is segmented based on following application type: Front airbag, Side airbag, Knee airbag, Curtain airbag, and Other airbags. Curtain airbag has been the largest consumer of airbag fabrics in the global automotive industry. This airbag type is also likely to witness the fastest growth during the forecast period.
The automotive airbag fabric market is segmented based on following yarn type: Polyamide and Polyester yarn. Polyamide 6.6 which is the most widely used yarn for making airbag fabrics, is likely to remain the most dominant yarn type in the global automotive airbag fabric market. However, polyester yarn is expected to grow at a faster rate over the next five years owing to its lower cost and increasing adoption in the knee and curtain airbags, mainly in the US and Europe.
In terms of coating, the automotive airbag fabric market is segmented into Neoprene, Silicone and Non-Coated airbag fabric. Silicon coated airbag fabric is expected to remain the most dominant coating type in the global automotive industry. However, Non-coated airbag fabric, which currently occupies very small market share, is expected to grow at a faster rate in the coming five years.
A highly/moderately/fragment consolidated Market
The top players are Global Safety Textiles (Hyosung), Toyobo, Toray Industries, Autoliv AB, and ZF TRW.
Regional Hegemony of Asia-Pacific
In terms of region, the automotive airbag fabric market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific has been the largest market for airbag fabric in the automotive industry, China, Japan, South Korea, and India being the major markets. China and India are the growth engines of the Asia-Pacific market due to a continuous increase in the demand for vehicles and introduction of stringent safety standards. RoW is expected to grow at the fastest rate owing to upcoming assembly plants and increasing penetration of airbags per cars.
Comprehensive Market Coverage
Click Here for Other Reports from Stratview Research in the Automotive Industry: https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html
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