Automotive Fabric Market

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.

Market Dynamic

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:

• Polyester
• Vinyl
• Leather
• Nylon
• Others

By Application:

• Carpets/Floor Covering
• Upholstery
• Pre-assembled Interior Components
• Tires
• Safety-belts
• Airbags
• Others

By Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of 57.6%, the Asia Pacific Region is regarded as one of the world’s top consumers of automotive fabrics. The demand for cars would increase nationwide due to high disposable income and increased per capita spending among Americans. The high demand for premium and aesthetic looks in vehicles has driven the adoption of a premium range of textiles across various luxury ranges of automobiles in the nation.

Competition Analysis

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:

• In August 2022, the interior of Mercedes-future Benz’s EQE SUV was hinted at. The interior of the all-electric SUV will combine warm and cold tones. A blend of contemporary and traditional elements, such as fine metal, anthracite, aluminum, and wood trims, will also be used in the SUV. It will also have a multifunctional steering wheel and dual-tone leather upholstery.

A list of some of the key suppliers present in the market are:

• Henkel AG & Co. KGaA
• Namics Corporation
• ASE Group
• MacDermid Alpha Electronic Solutions
• Parker LORD Corporation
• B. Fuller Company
• Dow Inc.
• ELANTAS GmbH
• Zymet
• Hitachi Chemical Co., Ltd.
• Panasonic Corporation
• AI Technology, Inc
• Indium Corporation
• Sanyu Rec Co., Ltd.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.