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Automotive Fabric Market To Witness Significant Growth By 2020-2026 with prominent key players - Lear Corporation, Toyota Boshoku Corporation, Seiren Co., Ltd, etc
Automotive Fabric Market
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Increasing government focus to reduce car weights and thereby the fuel emissions is anticipated to create growth opportunities for the market. Thermoplastic materials have witnessed a significant adoption globally as they help in reducing the weight of the vehicle by almost 10 percent. Additionally, fuel emission target in various regions such as North America and Europe have led to an increase in the adoption of automotive fabrics. The EU's 2020 target for fleet average CO2 emissions is 95g/km. The region aims at reducing CO2 emissions by 40 percent.
Companies considered and profiled in this market study
Lear Corporation, Toyota Boshoku Corporation, Seiren Co., Ltd., Takata Corporation, Tenowo GmbH, Sage Automotive Interiors Inc. and SRF Limited. In March 2018, Adient India, the Indian arm of global automotive seating player announced entering into an agreement with Arvind Ltd. to develop, manufacture and sell automotive fabrics in the country.
Further key findings from the report suggest
1. Upholstery is projected to be the fastest growing application of the automotive fabric market. The segment is projected to grow at a CAGR of 4.3% in the forecast period. Apart from seat covers, dashboards, trunk liners, roof-liners are the major applications involved in upholstery.
2. Asia Pacific market is forecasted to grow at a CAGR of 4.5% in the coming years. Increasing adoption of regulations to reduce fuel emissions in the region is projected to foster market demand. For instance: Recently China announced adopting National Phase VI/VIA vehicle fuel standards. Under this strategy, the sale of motor fuels, which do not meet the National VIA gasoline standard or National VI gasoil standard will be restricted in the region.
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For the purpose of this report, Reports and Data have segmented global automotive fabric on the basis of material, vehicle type, application and region:
Material Outlook (Revenue, USD Billion, 2018-2026)
Fabric
Suede
Nylon
Velvet
Velour
Tweed
Thermoplastic Material
Leather
Natural Leather
Synthetic Leather
Others
Vehicle Type Outlook (Revenue, USD Billion, 2018-2026)
Passenger Cars
Light Commercial Vehicles
Heavy trucks
Buses & Coaches
Application Outlook (Revenue, USD Million, 2015-2026)
Floor Covering
Upholstery
Pre-Assembled Interior Component
Tires
Safety Belts
Airbags
Others
Regional Outlook (Revenue, USD Billion, 2018-2026)
North America
Europe
Asia Pacific
Latin America
MEA
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help clients make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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