Automotive Airbag Fabric Market Size to Grow at a CAGR of 4.9% by 2024

Automotive Airbag Fabric Market is expected to grow at a CAGR of 4.9% during the next five years, according to a newly added report by Stratview Research. The demand for airbags is proportional to the demand for vehicles; hence, influencing the demand for airbag fabrics as well. Increasing production of automobiles fueled by rising disposable income, increasing installation of airbags per car, the introduction of more stringent safety standards, and demand for low-cost fabrics are driving the airbag fabrics market in the automotive industry.

The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in six ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2019-2024.

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As per the report, among different vehicle types, C/SUV is expected to remain the largest airbag fabric market over the next five years. The vehicle type (C/SUV) is also likely to witness the highest growth during the same period, fueled by the trend of the shift from sedans and hatchbacks towards SUVs. Spacious interiors and comfortable and satisfying driving experience have generated a sheer interest for SUVs in the past few years.

The market is segmented based on the airbag type as Driver Airbag, Passenger Airbag, Side Airbag, Curtain Airbag, and Others. Curtain airbag has been the largest consumer of airbag fabrics in the automotive industry. This airbag type is also likely to witness the highest growth during the forecast period. An increase in penetration of curtain airbags in vehicles coupled with the increasing share of SUVs in light vehicles production is leading to the higher growth of curtain airbags in the market. There have been developments in airbags, another factor stimulating the demand for it int the market. For instance, in June 2019, ZF Friedrichshafen AG, a leading vehicle safety technology company, developed the world’s first pre-crash occupant safety system with an external side airbag, which has a capacity between 280 and 400 liters (five to eight times the volume of a driver airbag).

Based on the yarn type, the market is segmented as Polyamide Yarn and Polyester Yarn. Polyamide 6.6 is the most widely used yarn for making airbag fabrics and is likely to remain the most dominant yarn type in the 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 USA and Europe.

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Asia-Pacific has been the largest market for airbag fabrics, primarily propelled by China, Japan, South Korea, and India. China and India are the growth engines of the Asia-Pacific market due to a continuous increase in the demand for vehicles and the introduction of stringent safety standards.
North America and Europe are also the major markets and are anticipated to generate considerable demand for airbag fabrics in the coming five years. The USA and Mexico are the major markets in North America, whereas Germany, France, the UK, and Russia are the major markets in Europe. The fitment rate of airbags in Europe is higher than in North America and Asia-Pacific.

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The report further mentions about the key manufacturing players Indorama Ventures Public Company Limited, Global Safety Textiles (Hyosung), Toyobo Co., Ltd., Toray Industries, Inc., Kolon Industries, HMT (Xiamen) New Technical Materials Co. Ltd., Elevate Textiles Inc., and Milliken & Company. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the Automotive Airbag Fabric Market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.

Salient Features of the Report
The report on Automotive Airbag Fabric Market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
• Market structure,
• Market environment analysis,
• Market trend and forecast analysis,
• Market segment trend and forecast,
• Competitive landscape and dynamics,
• Attractive market segments and associated growth opportunities,
• Emerging trends,
• Strategic growth opportunities for the existing and new players,
• Key success factors

About Stratview Research:
Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it.

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