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Automotive Fabric Market to Reach USD 32.13 Billion by 2027, Driven by Demand for Comfort, Style, and Sustainability
Automotive Fabric Market
The global automotive fabric market was valued at $32.13 billion in 2019, and is projected to reach $39.14 billion by 2027, registering a CAGR of 4.8%.
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Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global automotive fabric market share size in 2019, and is expected to grow at a significant rate during the forecast period due to increase in production & sales of vehicles across the country.
Factors, such as rise in sale of vehicles, rapid economic improvement, and implementation of stringent safety standards, for usage of airbags are creating a huge demand for automotive fabrics globally. However, rise in raw material cost and increase in opposition for the use of leather hamper the growth of the global market. Moreover, rise in demand for environment-friendly fabric material and low-weight automotive fabric to reduce vehicle pollution creates better opportunity for the growth of the market.
List Of key Companies:
Acme Mills Company, Adient plc., Aunde, Grupo Antolin, Heathcoat Fabrics Limited, Lear Corporation, Martur Automotive Seating System, Sage, Seiren Co., Ltd., SRF Limited, Suminoe Textile Co., Ltd., Tesca, Toyota Boshoku Corporation, Krishna, Arvind Limited, Navbharat Textile Processors, Parishudh Fibres, Shandong Exceeding Auto Interior Parts Co., Ltd., DongGuan Cigno Leather Co., Ltd., and Changzhou JLON Composite Co., Ltd.
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Automotive fabrics are technical materials, which are used in vehicles to offer better aesthetic look to the user of the vehicle. They are made of different materials and components to offer better looks to the interior of the vehicle as well as are used to offer comfort to the passengers of the vehicle. Automotive fabrics have wider application in areas such as headliners, cockpit modules, door panels, automotive seats, flooring, vehicle acoustics, and others.
Increased demand for vehicles with better and pleasant aesthetic looks is preferred by customers; hence, vehicle manufacturers are installing different types of fabrics made of different materials such as
polyester, nylon, leather, and others. The availability of alternate and cheap fabric material has led the market toward a positive growth.
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By fabric type, the market is categorized into polyester, vinyl, leather, nylon, and others. Polyester accounted for the highest revenue in 2019, owing to its higher adoption in vehicles. This increased adoption is due to the strong and long-lasting properties of polyester. However, the other type of fabric material is expected to grow at a significant rate, owing to its increased application in vehicles.
On the basis of application, the automotive fabric market is segregated into carpets/floor covering, upholstery, pre-assembled interior components, tires, safety-belts, airbags, and others. The carpets/floor covering segment has a wider application of automotive fabrics. Moreover, the airbags segment is expected to grow significantly during the forecast period due to increased application of airbags in vehicles.
Key Findings Of The Study
By fabric type, the others segment is expected to register a significant growth during the forecast period.
Depending on application, the airbags segment is anticipated to exhibit significant growth in the near future.
On the basis of vehicle type, the passenger vehicle segment is projected to lead the global automotive fabric market, owing to higher CAGR.
Region-wise, Asia-Pacific is anticipated to register the highest CAGR.
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