Rising demand for eco-friendly automotive fabric materials and increasing adoption of water-, fire-, and Ultraviolet (UV) ray-resistant automotive fabric are some key factors driving market revenue growth
Market Size – USD 34.10 Billion in 2021, Market Growth – at a CAGR of 4.4%, Market Trends – Increasing government regulations on driver and vehicle safety
The global automotive fabric market size is expected to reach USD 49.79 Billion in 2030 and register a revenue CAGR of 4.4% over the forecast period, according to a latest report by Reports and Data. Rising demand for eco-friendly automotive fabric materials and rising adoption of water-, fire-, and Ultraviolet (UV) ray-resistant automotive fabric materials are expected to drive market revenue growth during the forecast period. In addition rising demand for luxurious car interiors and comfortable automotive fabrics is increasing product adoption and is expected to boost revenue growth of the global market in the years to come. Moreover, rising demand for vinyl fabrics among consumers for seat coverage due to easy cleaning and maintenance is leading to increasing adoption of vinyl automotive fabrics. This is expected to drive revenue growth of the global market. Furthermore, increasing government regulations for safety of drivers and vehicles, rising usage of airbags and seat belts due to stringent government regulations, and increasing adoption of fabrics that are strongly resistant to water, fire, and extreme weathers are expected to create higher demand for automotive fabrics and drive revenue growth of the global market over the forecast period.
However, high cost of raw materials is one of the major factors that could hamper revenue growth of the global market during the forecast period. Additonally, high cost of material could limit automotive fabric adoption and drive consumers to opt for low-cost alternatives. This could restrain revenue growth of the global automotive fabric market to some extent.
Companies profiled in the global market report include Adient Plc, Lear Corporation, Toyota Boshoku Corporation, Seiren Co., Ltd., Suminoe Textile Co., Ltd., SRF Limited, GrupoAntolinIrausa, S.A, Heathcoat Fabrics Limited, Aunde Group SE, and Tesca Technologies Pvt. Ltd.
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Market Overview:
The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Automotive Fabric Markethas been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Automotive Fabric Market.
Some Key Highlights in the Report
• Polyester segment is expected to account for considerably large revenue share over the forecast period. Rising adoption of polyester in vehicles due to properties offered such as wrinkle resistant and water-resistant is expected to boost revenue growth of the segment. In addition, increasing adoption of polyester fabrics due to heat resistance, chemical resistance, and thermoplastic properties is creating higher product demand, which is expected to boost revenue growth of the segment during the forecast period.
• Passenger vehicle segment is expected to account for largest revenue share in the global automotive fabric market between 2022 and 2030. Rising demand for automotive fabrics for floor covering, insulation, door panels, and seat covers is a major factor expected to drive revenue growth of the segment. Additionally, increasing usage of automotive fabrics for coating and lamination of car seat fabrics is expected to boost revenue growth of the segment.
• Asia Pacific automotive fabric market is expected to account for largest revenue share in the global market over the forecast period. Increasing demand for luxury vehicles and rapid expansion of the automotive industry in countries in the region is expected to result in higher adoption of automotive fibers and drive revenue growth of the market in the region.
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For the purpose of this report, Reports and Data has segmented the global automotive fabric market based on fabric type, application, vehicle type, and region:
Fabric Type Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
• Polyester
• Leather
• Vinyl
• Nylon
• Suede
• Others
Application Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
• Floor Covering
• Pre-assemble Interior Component
• Upholstery
• Air Bags
• Safety Belts
• Tires
• Others
Vehicle Type Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
• Passenger Vehicle
• Commercial Vehicle
o Light Commercial Vehicle
o Heavy Trucks
o Buses & Coaches
Regional Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Sweden
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Israel
o Rest of MEA
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Key Advantages of Automotive Fabric Market:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Automotive Fabric industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Automotive Fabric Marketare quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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