Global Automotive Fabric Market Is Expected To Grow At CAGR Of 5% In The Forecast Period Of 2022-2027
The new report by Expert Market Research titled, ‘Global Automotive Fabric Market Growth, Share, Size, Analysis, and Forecast 2022-2027’, gives an in-depth analysis of the global automotive fabric market, assessing the market based on its segments like fabric type, application, vehicle type, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Value (2021): USD 5 Billion
- Forecast CAGR (2022-2027): 5%
- Forecast Market Value (2027): USD 7 Billion
The transportation industry is driving the demand for automotive fabric. Automotive fabrics help reduce vehicle weight, enhance comfort, and improve the vehicle’s appearance and safety by leveraging their essential features. The industry’s expansion is aided by such favourable properties. These fabrics are constructed of high-performance textiles with features like the capacity to withstand harsh temperatures and UV rays, as well as being easy to clean, which is driving the demand for the product. Automobile fabrics are commonly used in public and commercial transportation like trains, buses, and airplanes, which demand more appealing and relaxing interiors. This favours the market’s expansion even more.
Technological advancements in the development of environmentally friendly and lightweight fabric materials to reduce pollution are propelling the industry forward. Efforts are being made to ensure that sustainable materials derived from renewable sources are used in vehicle interiors, which is boosting the automotive fabric industry’s growth. Recycled polyethylene terephthalate (RPET), a type of recycled polyester derived from recycled plastic, is progressively becoming a preferred material choice to reduce carbon emissions, further boosting the market for automobile fabric.
Automotive Fabric Industry Definition and Major Segments
Automotive fabric is a soft, lightweight, and elastomeric nonwoven, woven, knitted, or composite fabric. Unlike garment textiles, these fabrics are utilised in transportation vehicles such as cars, buses, trains, planes, and other vehicles due to their high-performance characteristics such as their ability to tolerate extreme temperatures, cleaning capabilities, and durability. They’re commonly utilised for auto upholstery and interiors, like vehicle carpets, seatbelts, dashboards, and seat covers, among other things.
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Based on fabric type, the market is divided into:
Based on application, the market is segmented into:
- Carpets/Floor Coverings
- Pre-Assembled Interior Components
- Safety Belts
Based on vehicle type, the market is segmented into:
- Passenger Vehicle
- Commercial Vehicle
The major regional markets include:
- North America
- Latin America
- Middle East and Africa
Automotive Fabric Market Trends
Consumers are becoming increasingly hesitant to taking public transport as a result of the COVID-19 pandemic, which is likely to drive up personal vehicle sales. The automotive fabric sector is expected to benefit as a result of this. Furthermore, expanding urbanisation and rising disposable income levels, as well as improved living conditions, have boosted demand for automotive fabrics, which is expected to continue to develop in the future years. Automotive fabrics are in high demand for use in airbags and safety belts, thanks to the safety measures imposed by governments around the world, and the market is likely to continue to develop.
Increased demand for car accessories that provide greater comfort and high-quality materials is likely to fuel market expansion. These textiles are made to provide comfort, safety, and security when driving. Such factors are projected to boost the market’s growth.
Key Market Players
The major players in the market are Acme Mills Company, Grupo Antolin Irausa S.A, Heathcoat Fabrics Limited, Lear Corporation, Seiren Co Ltd, among others.
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