Automotive Fabric Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Automotive Fabric Market grew at a CAGR of 2.8% between 2017-2021 and is estimated to be US$ 29,742.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 3.4% and is expected to reach a valuation of US$ 41,551.3Mn by 2032 end.
A vehicle’s fabrics are an essential component. They are utilized in a wide range of applications, including airbags, upholstery, belts & hoses, and several others, to give the car a more upscale appearance or improve its safety features.
Due to the steady growth in car sales, many automobile manufacturers’ demand for fabrics is rising quickly. Additionally, it is projected that the global automotive textiles market will do well over the next ten years due to regional governments implementing strict rules related to car safety requirements.
RISE IN THE SALE OF VEHICLES, RAPID ECONOMIC IMPROVEMENT, AND SAFETY BELTS SIGNIFICANTLY CONTRIBUTE TOWARD THE GROWTH OF THE GLOBAL AUTOMOTIVE FABRIC MARKET
Increased vehicle sales, rapid economic growth, and strict government safety regulations requiring safety belts and airbags, among other things, are the main drivers of the worldwide automotive fabric industry. Additionally, the growth in disposable income in developing Asia-Pacific nations is a key factor in the spike in passenger vehicle production, which drives the market’s expansion.
As a result, expanding applications for the passenger vehicle segment are directly tied to increased acceptance of fabric materials.
GROWTH IN THE GLOBAL AUTOMOTIVE FABRICS MARKET MAY BE HAMPERED BY INCREASING CONCERNS ABOUT THE LOW MOISTURE ABSORPTION OF SOME AUTOMOTIVE FABRICS
Growing worries about the poor moisture absorption of some vehicle fabrics could impede the growth of the global market for automotive fabrics. Some synthetic materials utilised in automotive applications have hydrophobic qualities, which may lead to inadequate moisture absorption and limit product acceptance.
Some automobile fabrics are not biodegradable, which prevents nature from organically disposing of the materials, which is another concern that can limit market expansion. The expansion of the automotive fabrics market during the evaluation period may be slightly hampered by growing consumer interest in using eco-friendly car fabric materials.
Market Segments Covered in Report
By Fabric Type:
By Vehicle Type:
By Region and Country:
Why is the significance of Polyester fabric?
Every repeat unit of the main chain in the class of polymers known as polyester has an ester functional group. It most frequently refers to a type of substance known as polyethylene terephthalate as a specific material (PET). Polyesters are made from synthetic materials like polybutyrate and naturally occurring compounds in plants and insects. Biodegradable polyesters include some artificial and some natural varieties. However, the majority of synthetic polyesters are not. Clothing frequently uses synthetic polyesters.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
To meet the growing demand for the product, producers of automotive fabrics are actively expanding their geographic and commercial reach. To maintain their dominance in the automotive fabrics market, major manufacturers are concentrating on increasing their geographic presence through mergers and acquisitions of regional small- and medium-sized businesses. Some other major manufacturers are focused on partnerships and coalitions to meet the rising client demand.
The key developments in the Global Automotive Fabric Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Application, Vehicle Type, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 3.4%.
The rise in the sale of vehicles, rapid economic improvement, and safety belts significantly contribute toward the growth of the global automotive fabric market
Major global Automotive Fabric Market players are Henkel AG & Co. KGaA, Namics Corporation, ASE Group, MacDermid Alpha Electronic Solutions, Parker LORD Corporation, H.B. Fuller Company, Dow Inc., ELANTAS GmbH, Zymet, Hitachi Chemical Co., Ltd., Panasonic Corporation, AI Technology, Inc, Indium Corporation, Sanyu Rec Co., Ltd.
Growth in the global automotive fabrics market may be hampered by increasing concerns about the low moisture absorption of some automotive fabrics
Asia Pacific Region is expected to account for the largest market revenue share in the Global Automotive Fabric market.
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