Automotive Fabric Market: Current Analysis and Forecast (2022-2028)

Global Automotive Fabric Market is expected to grow at a significant rate of around 4% during the forecast period. Automotive fabric is a technical textile used in the transportation and automotive industries. The automotive fabric focuses on aspects of safety, comfort, and aesthetics of the vehicles. In addition, the major applications of automotive fabric are antibacterial, anti-static, chemical, and ultraviolet (UV) resistant, flame retardant, insect repellent, and odor absorbent. They can also withstand severe conditions and help protect different items in a car, such as seatbelts, filters, seat pockets, and covers. Furthermore, the use of automotive fabric is increasing as they embrace the quality, safety, and performance of the vehicles. Therefore, in recent years, the usage of electric vehicles (EVs) is boosting the growth of the market since they provide noise, vibration, and temperature control in vehicles.

Grupo Antolin, Lear Corporation, Seiren Co. Ltd, Adient plc, Toyota Boshoku Corporation, SRF Limited, Suminoe Textile Co. Ltd, Heathcoat Fabrics Limited, Sage Automotive Interiors, Tesca Technologies Pvt. Ltd. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst vehicle type, passenger vehicle type category to witness higher CAGR during the forecast period"

Based on vehicle type, the market is segmented into passenger and commercial. The passenger vehicle type category is to witness higher CAGR during the forecast period owing to its growing usage due to its various applications such as high strength, elongation capability, and resistance to fire, water, and UV. In addition, the increasing demand for comfort and luxury coupled with the modified interiors in passenger vehicles are also escalating the growth of the passenger vehicle type market. However, the demand for luxury passenger vehicles is expected to grow in the market.

"Amongst fabric type, the polyester to hold a significant share in the market in 2020"

On the basis of fabric type, the market is categorized into polyester, leather, vinyl, nylon, suede, and others. Among these, polyester to hold a significant share of the market in 2020. This is mainly due to the increasing adoption of polyester fabrics because of their better physical properties and high-mechanical performance. Additionally, polyester fabrics have various other properties such as lightweight, durability, resistance to wrinkles, water, heat, chemical, and thermoplastic which increases its demand in the automotive industry. Furthermore, these are used in the recycled form in car upholstery, mainly in floor covering and seat covers which are expected to increase their demand in the market.

"Amongst application, airbags category to witness higher CAGR during the forecast period"

Based on application, the automotive fabric market has been classified as carpets/floor coverings, upholstery, pre-assembled interior components, tyres, safety belts, airbags, and others. The airbags category is to witness higher adoption of automotive fabric during the forecast period. This is mainly due to the rising concern about safety in vehicles as airbags are a major part of automotive safety equipment. Since airbags reduce the chance of the upper body or head striking the vehicle's interior during a crash. They're normally hidden but inflate instantly when a crash begins. Moreover, certain rules and regulations are made regarding airbags to protect people during accidents. For instance, in Jan 2022, the Ministry of Road Transport and Highways (MoRTH) stated that vehicles of the M1 category will have two side/side torso airbags.

"APAC to hold a significant share in the market"

In 2020, APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing technological advancements in fabric manufacturing in developing economies such as China, India, and others. Also, the region has a rapid increase in the volume of vehicle production due to the growing population are escalating the growth of the market. Furthermore, the concern about environmental toxicity during the manufacturing of leather automotive fabrics will boost the growth of the market within the region. Hence, the rising consumer tendency towards vehicle safety such as seat belts, airbags, and smart tires is increasing at a very rapid rate which will grow the market within the APAC region. For Instance, according to IBEF, in February 2022, the Minister of Road Transport and Highways, revealed plans to roll out Bharat NCAP, India's own vehicle safety assessment program.

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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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