Automotive Fabric Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Vehicle Type (Passenger and Commercial); Fabric Type (Polyester, Leather, Vinyl, Nylon, Suede, and Others); Application (Carpets/Floor Coverings, Upholstery, Pre-Assembled Interior Components, Tyres, Safety Belts, Airbags, and Others); and Region/Country
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 Antolín, 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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- 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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|2.1.||Research Process of the Automotive Fabric Market|
|2.2.||Research Methodology of the Automotive Fabric Market|
|5||IMPACT OF COVID-19 ON THE AUTOMOTIVE FABRIC MARKET|
|6||AUTOMOTIVE FABRIC MARKET REVENUE, 2020-2028F|
|9.3.||Pre-Assembled Interior Components|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||AUTOMOTIVE FABRIC MARKET OPPORTUNITIES|
|13||AUTOMOTIVE FABRIC MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Fiver Forces Analysis|
|17.3.||Seiren Co. Ltd|
|17.5.||Toyota Boshoku Corporation|
|17.7.||Suminoe Textile Co. Ltd|
|17.8.||Heathcoat Fabrics Limited|
|17.9.||Sage Automotive Interiors|
|17.10.||Tesca Technologies Pvt. Ltd.|
Research Methodology for the Automotive Fabric Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive fabric market were the three major steps undertaken to create and analyze the adoption of automotive fabric in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive fabric market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive fabric market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive fabric market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as vehicle type, fabric type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive fabric market. Further, we conducted factor analysis using dependent and independent variables such as various vehicle types, fabric types, and applications of automotive fabric. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive fabric market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive fabric market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive fabric market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global automotive fabric market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive fabric market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of vehicle type, fabric type, and application in the global automotive fabric market.
The main objective of the Global Automotive Fabric Market Study
The current & future market trends of the global automotive fabric market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the automotive fabric market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of vehicle type, fabric type, and application.
- Define and analysis of the regulatory framework for the automotive fabric
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the automotive fabric market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the automotive fabric market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry