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Automotive Fabric Market to Garner Brimming Revenues By 2025
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Automotive Fabric Market: Drivers and Restraints
Automotive fabric market is witnessing maximum growth owing to expanding demand for automobiles, rising safety measures, increase in the vehicle production volume, growing disposable income, and living standard of people. Moreover, growing automotive industry, rapidly expanding demand for automobile accessories, rapidly economic development, and advanced features such as elasticity, resistance to breakage & wear are some of the factors that can surge in demand for automotive fabric over the forecast period. However, availability of alternative materials such as synthetic leather, natural leather, and PVC may hamper the growth of Automotive Fabric market in the near future.
Automotive fabric market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well soon owing to use of automotive fabric in carpets because of their vibration and noise absorption properties. Moreover, this type of materials are less in weight and cost effective along with rising consumer awareness, and safety concerns are some of the factors that can significantly enhance the market revenue growth of automotive fabric in near future. Based on application, floor covering segment is anticipated to grow at the fastest CAGR over the forecast period attributed to rising adoption of carpets in automobiles coupled with enhancing the interior ambiance of the vehicle.
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Automotive Fabric Market: Region-wise Outlook
Depending on the geographic region, Automotive Fabric market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. North America dominates the Automotive Fabric market followed by Europe, and Japan owing to presence of major players, developed technology, frequently launch of novel product, and established research centers in these regions. Asia Pacific, Middle East and Africa hold huge potential and shows substantial growth in terms of increasing population, expanding middle class income people, rising demand for passenger cars in developing countries, urbanization, and key players expanding their business in these regions are some of the factors which strengthen the growth of automotive fabric market throughout the forecast period.
Automotive Fabric Market: Key Players
Some players of automotive fabric market are Toyota Boshoku Corporation, Sage Automotive Interiors Inc., Suminoe Textile Co., Ltd., Lear Corporation, J & J Auto Fabrics, Inc., SRF Limited, Adient PLC, Seiren Co., Ltd., Moriden America Inc., Faurecia S.A., Trevira GmbH, Heathcoat Fabrics Limited, Takata Corporation, Acme Mills Company, Grupo Antolin Irausa, S.A., TWI Ltd., Bmd Private Ltd., Yanfeng Automotive Trim Systems Co., Ltd., Martur Automotive Seating Systems, Haartz Corporation, Glen Raven Inc., and Tenowo GmbH.
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