Automotive Fabric Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Automotive Fabric Market grew at a CAGR of 2.8% between 2017-2021 and is estimated to be US$ 29,742.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 3.4% and is expected to reach a valuation of US$ 41,551.3Mn by 2032 end.
The demand for these textiles for soundproofing, thermal insulation of the inside of vehicles, cushioning, and aesthetic reasons are expected to increase, leading to growth in the global automotive fabrics market. The market for automotive fabrics is anticipated to grow significantly over the next ten years due to the rising use of tire materials such as polyethylene terephthalate, rayon, nylon, and aramid due to the high demand for automotive fabrics.
ChemView Consulting has analyzed that increased vehicle sales, rapid economic growth, and strict government safety regulations requiring safety belts and airbags, among other things, are the main drivers of the worldwide automotive fabric industry. Additionally, the growth in disposable income in developing Asia-Pacific nations is a key factor in the spike in passenger vehicle production, which drives the market’s expansion.
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Every repeat unit of the main chain in the class of polymers known as polyester has an ester functional group. It most frequently refers to a type of substance known as polyethylene terephthalate as a specific material (PET). Polyesters are made from synthetic materials like polybutyrate and naturally occurring compounds in plants and insects. Biodegradable polyesters include some artificial and some natural varieties. However, the majority of synthetic polyesters are not. Clothing frequently uses synthetic polyesters.
Segments Covered in Report
By Fabric Type:
- Polyester
- Vinyl
- Leather
- Nylon
- Others
By Application:
- Carpets/Floor Covering
- Upholstery
- Pre-assembled Interior Components
- Tires
- Safety-belts
- Airbags
- Others
By Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Automotive Fabric Market
- Based on the fabric type, every repeat unit of the main chain in the class of polymers known as polyester has an ester functional group. It most frequently refers to a variety of substances known as polyethylene terephthalate as a specific material (PET). Polyesters are made from synthetic materials like polybutyrate and naturally occurring compounds in plants and insects. Biodegradable polyesters include some artificial and some natural varieties. However, the majority of synthetic polyesters are not. Clothing frequently uses synthetic polyesters.
- Based on the region, with a market share of 57.6%, the Asia Pacific Region is regarded as one of the world’s top consumers of automotive fabrics. The demand for cars would increase nationwide due to high disposable income and increased per capita spending among Americans. The high demand for premium and aesthetic looks in vehicles has driven the adoption of a premium range of textiles across various luxury ranges of automobiles in the nation.
Competition Summary
Key companies covered in the market study are Henkel AG & Co. KGaA, Namics Corporation, ASE Group, MacDermid Alpha Electronic Solutions, Parker LORD Corporation, H.B. Fuller Company, Dow Inc., ELANTAS GmbH, Zymet, Hitachi Chemical Co., Ltd., Panasonic Corporation, AI Technology, Inc, Indium Corporation, Sanyu Rec Co., Ltd.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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