The Automotive Airbag Yarn Market to experience an impressive growth to reach US$ 1,274.3 million during 2018-2023

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Automotive Airbag Yarn Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Automotive Airbag Yarn Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.

The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.


The strategic Market dissection

The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by
1. Vehicle Type (Compact Car, Mid-Size Car, Large Car, MPV & LCV, SUV, Others)
2. Airbag Type (Driver Airbag, Passenger Airbag, Side Airbag, Knee Airbag, Curtain Airbag)
3. Yarn Type (Polyamide Yarns, Polyester Yarns)
4. End-User Type (OE, Aftermarket)
5. Region (North America, Europe, Asia-Pacific and RoW)

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The Growth Prognosis & its Drivers

The growth prospects of the automotive airbag yarns market seem promising with favorable opportunities in all four regions. All the major automakers are increasingly introducing more airbags per vehicle in order to make their vehicle safer for passengers as well as for meeting the stringent passenger safety standards of different countries. Increasing numbers of road accidents are compelling the governments of many countries to introduce more stringent passenger safety regulations in which making airbags compulsory in all types of vehicles are amongst the most common regulation.

Major players are strategically opting both organic as well as inorganic growth routes in order to capture the maximum growth potential. Some players have recently announced to expand their existing production capacities of airbag yarns to meet the shooting demand, whereas some players are opting M&A strategies to quickly gain the leading position in the market.

The automotive airbag yarn market is projected to reach an estimated value of US$ 1,274.3 million in 2023. Organic growth of automobile production, especially in Asia and Rest of the World; the introduction of more bags per vehicle; high focus on passenger safety; and the introduction of more stringent safety standards across the globe are the major drivers of the airbag yarns market in the automotive industry.

The Key players

The top players are Illinois Tool Works Inc., LISI Group, Shanghai Prime Machinery Company Limited, Bulten AB, Stanley Black & Decker, Inc.,
Other important firms are The SFS Group AG, Meidoh Co. Ltd., NIPMAN Automotive Solutions, The Würth Group, Piolax Inc., Westfield Fasteners Limited, Changshu City Standard Parts Factory, Fontana Gruppo Srl, Simmonds Marshall Limited, Sterling Tools Limited, Bollhoff, Nedschroef Machine Industry, Nifco Group, and Boltun Corporation.

The undisputed Dominance of the Asia-Pacific

North America and Asia-Pacific are the two largest markets for airbag yarns. North America’s airbag fitment rate is generally higher than that of Asia-Pacific and Europe. However, Asia-Pacific is expected to remain the dominant market for airbag yarns during the forecast period. Asia-Pacific is set to experience the highest growth in the coming years with most of the growth coming from developing economies including India and China. Most of the major airbag yarn producers are forming strategic alliances with Asian companies to set up a plant in Asia, mainly in China, to tap the market potential.

Emerging Trends: An airbag is the most important safety device in an automobile. There are different types of airbags installed in an automobile, such as driver airbags, passenger airbags, side airbags, curtain airbags, and knee airbags. The market for airbag has been growing at a higher pace than that of the automotive industry, due to increasing awareness towards passenger safety.

The global automotive airbag yarn market is segmented based on the vehicle type as Small Car, Mid-size Car, Large Car, MPV & LCV, SUV, and Others. Compact cars, SUVs, and MPVs & LCVs are expected to offer healthy growth opportunities for airbag yarns in the global automotive industry in the coming years. Increasing demand for hatchbacks and SUVs in the major Asian countries, such as China and India, and highly congested cities of the developed economies are the major drivers of the demand for yarns for airbags in these vehicle types. The introduction of more stringent passenger safety standards further elevates the demand for airbag yarns in these vehicle types.

Based on the yarn type, the total automotive airbag yarns market is segmented into Polyamide Yarns and Polyester Yarns. Polyamide is likely to remain the most dominant material type in the automotive airbag yarn market during the forecast period. Polyamide 6.6 yarn is mainly used in airbags with the little usage of polyamide 6 yarn. Polyester yarns are more preferred for making the side and curtain airbags and are rapidly gaining the share in the market. Another advantage, which polyester yarns bring to the table that has significantly lower price than the polyamide yarns.

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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