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

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

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.

The Automotive Fabric Market is expected to grow at a steady rate of around 4% owing to the increasing safety measures in automotive applications coupled with environment-friendly fabric material and lightweight automotive fabrics to reduce vehicle pollution. Major companies in the market offer automotive fabric for the automotive sector with various applications with technologically advanced features. For instance, Lear launched a ReNewKnit automotive fabric, new a premium and fully recyclable warp-knitted fabric that has a wide range of applications across the automotive sector. This will initially be used in seating and door panel applications of vehicles across the globe.

• 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
• On the basis of fabric type, the market is categorized into polyester, leather, vinyl, nylon, suede, and others. Among these, polyester segment is expected 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
• 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
• For a better understanding of the market adoption of the automotive fabric industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. 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
• Some of the major players operating in the market include 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.