Press release
Automotive Fabric Market Expected to Achieve 6% CAGR by 2029: Growth Forecast Insights
Automotive Fabric
How Large Will the Automotive Fabric Market Size By 2025?
The size of the automotive fabric market has been progressively rising in the last few years. The market is expected to expand from $36.94 billion in 2024 to $38.5 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 4.2%. The growth during the historic period was spurred by factors such as improved interior aesthetics, an uptick in vehicle production, customer preference for comfort and safety, regulatory requirements, and options for customization.
How Big Is the Automotive Fabric Market Size Expected to Grow by 2029?
The market for automotive fabric is predicted to experience significant expansion in the coming years, with a projected growth to $48.57 billion in 2029 and a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this projected growth during the forecast period include the electrification of vehicles, connectivity capabilities, minimalist interior design, sustainability efforts, advanced safety features, and interior ambient lighting. Expected trends during the prediction period encompass smart fabrics, eco-friendly and recyclable materials, antimicrobial fabrics, textured and patterned materials, haptic feedback fabrics, and vegan, cruelty-free materials.
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Which Key Market Drivers Powering Automotive Fabric Market Expansion and Growth?
The projection for the automotive fabric market to grow is based on the expected rise in car demand. Economies across the globe have been consistently growing, which has raised living standards and consequently, increased purchasing power. The onset of the COVID-19 pandemic led to a preference for travel modes that maintain social distance, thereby amplifying car growth. As automobile demand increases, so too does the need for automotive fabrics since they provide optimal comfort, safety, and security to passengers during trips. A report from the International Organization of Motor Vehicle Manufacturers (OICA), for example, indicates a rise in global car sales from 53 million in 2020 to 56 million in 2021. Commercial vehicle sales have similarly risen from 24 million in 2020 to 26 million in 2021. Accordingly, the rising demand for passenger and commercial vehicles is driving the growth of the automotive fabric market.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Fabric Market?
The rise of recycled fabrics is a notable trend shaping the automotive fabric market. These fabrics get their start as waste materials, which are then converted into new fibers and woven into fabric material. Increasing concerns surrounding environmental issues like waste incineration's adverse effects, intensive industrial emissions from textile mills, and the depletion of raw materials have shifted the market towards more sustainable materials. Lear Corp., a leading American manufacturer for automotive seating and automotive electrical systems, launched ReNewKnit in October 2022, a high-quality, entirely recyclable warp knitted fabric with enhanced functionality. ReNewKnit sets a precedent in the automotive textile industry as a fully recyclable fabric exclusive to Lear, designed for its end-of-life recyclability.
What Are the Emerging Segments in the Automotive Fabric Market?
The automotive fabric market covered in this report is segmented -
1) By Fabric Type: Polyester, Vinyl, Leather, Nylon, Other Fabric Types
2) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
3) By Application: Carpets or Floor Covering, Upholstery, Pre-Assembled Interior Components, Tires, Safety-Belts, Airbags, Other Applications
Subsegments:
1) By Polyester: Woven Polyester, Non-Woven Polyester, Blended Polyester
2) By Vinyl: PVC Vinyl, PU Vinyl
3) By Leather: Genuine Leather, Synthetic Leather, Suede Leather
4) By Nylon: Woven Nylon, Non-woven Nylon, Blended Nylon
5) By Other Fabric Types: Cotton, Acrylic, Wool, Specialty Fabrics
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Who Are the Global Leaders in the Automotive Fabric Market?
Major companies operating in the automotive fabric market include Acme Mills Pvt Ltd., Suminoe Textile Co. Ltd., Arvind Limited., Grupo Antolin Irausa SA, HeaTH*Coat Fabrics Limited., Lear Corporation, Martur Automotive Seating Systems, Navbharat Textile Industries Ltd., Seiren Co. Ltd., Sage Automotive Interiors Inc., Toyoda Boshoku Asia Co. Ltd., Aunde Faze Three Autofab Ltd., Haartz Corporation, Tenowo GmbH, Hari Krishna Exports Pvt Ltd., Shandong Exceeding Auto Interior Parts Co. Ltd., Adient plc, Takata Corporation, Faurecia SA, Yanfeng Automotive Trim Systems Co Ltd., Moriden America Inc., Trevira GmbH, Joyson Safety Systems Holdings Limited, Mitchell Group Usa Private Limited., The Prestige Companies Auto Upholstery, Jhanji Textiles Pvt Ltd., Acme Leather LLP, Santoni S. p. A., Classic Soft Trim Inc., Seton Company Inc., Bader GmbH & Co. KG
Which are the Top Profitable Regional Markets for the Automotive Fabric Industry?
Asia-Pacific was the largest region in the automotive fabric market in 2024. The regions covered in the automotive fabric market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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