Global Automotive Airbag Yarn Market – Set to reach US$ 1,361.1 million in 2024

Stratview Research experts have done an extensive study of data from different sources and have analyzed them to come up with the Automotive Airbag Yarn Market report. The report offers insight into the current market trend and the future estimations.
The report on Automotive Airbag Yarn Market, published on July,2019 by Stratview Research, will showcase the market trend of 2013-2018 and forecast period of 2019-2024.

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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$ 1,361.1 million in 2024. 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.

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 supply chain of this market comprises raw material manufacturers, yarn manufacturers, fabric manufacturers, distributors, airbag manufacturers, auto OEMs, and dealers. Some of the airbag manufacturers are Autoliv Inc., ZF TRW Automotive Holdings Corp., Toyoda Gosei Co., Ltd, and Nihon Plast Co., whereas some of the major auto OEMs are General Motors Company, BMW, Toyota Motor Corporation, and Ford Motor Company.
The key airbag yarn suppliers for the automotive industry are Invista S.a.r.l., Toyobo Co., Ltd. (PHP Fibers), Toray Industries, Hyosung Corporation, and Asahi Kasei Fibers. New product development, capacity expansion, execution of merger & acquisitions, development of new optimized manufacturing process, collaboration with customers, and formation of the long-term contracts are the key strategies adopted by the key players to gain a competitive edge in the market.

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The report on Automotive Airbag Yarn Market is explained segment-wise for a better understanding of the market trend.

The 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 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 a significantly lower price than the polyamide yarns.

In terms of regions, North America and Asia-Pacific are the two largest markets for airbag yarns. North America’s airbag fitment rate is 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.

Salient Features of the Report
The Stratview Report will offer you a detailed view the growth of the global automotive airbag yarn market and the future prospects of the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

What we offer?
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