Automotive Airbag Yarn Market is Forecasted to Reach US$ 1.5 billion in 2028, Says Stratview Research

The global automotive airbag yarn market is projected to witness a growth rate of 5.0% annually from 2023 to 2028, with an anticipated size of US$ 1.5 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global automotive airbag yarn market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 1.5 billion
Growth (CAGR): 5.0% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Automotive Airbag Yarn Market:
The global automotive airbag yarn market is segmented based on vehicle type, airbag type, yarn type, and region.

Based on vehicle type - the automotive airbag yarn market is segmented into cars, C/SUVs, pickups, vans, MPV, and sports cars. C/SUV is expected to remain the market's largest and fastest-growing vehicle type category during the forecast period. Increasing demand for SUVs in 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 airbag type - The market is segmented into driver airbags, passenger airbags, side airbags, knee airbags, and curtain airbags. Curtain airbag is expected to remain the dominant as well as the faster-growing airbag type in the market during the forecast period. Curtain airbags are increasingly being used in developing nations where frontal airbags already have an excellent penetration level in the automobile fleet.

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

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for automotive airbag yarn during the forecast period. This growth outlook is majorly attributed to the following-
- This region has a presence of a large number of major OEMs, such as Toyota and Hyundai, which make the region a growth engine for the automotive industry.
- 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.
- North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by vehicle production growth coupled with the fitment rates of side, curtain, and knee airbags.

Automotive Airbag Yarn Market Drivers:

Some of the key drivers listed in the report are given below.
- 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 is the most common.

Top Companies in the Automotive Airbag Yarn Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Invista
• Toray Industries, Inc.
• Indorama Ventures
• Asahi Kasei Corporation
• Toyobo Co., Ltd.
• Hyosung Corporation

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Automotive Airbag Yarn Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.