In terms of value, the automotive fabrics market is estimated to grow from USD 40.5 billion in 2024 to USD 51.4 billion by 2029, at a CAGR of 4.9%. Automotive fabric market have grown as the demand from applications such as airbags, upholstery, tires and floor coverings is mounted immensely due to large production of vehicles especially passenger cars worldwide.
The market is projected to grow because of the evolving lifestyle across globe. Rising safety measures in automobile application is one of the major drives for the market. With an increasing awareness of passenger safety, automotive manufacturers are incorporating advanced fabric materials that meet stringent safety standards.
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These fabrics are engineered to improve occupant protection by providing features such as fire resistance, impact absorption, and durability. Additionally, the growing demand for comfort and aesthetics in vehicle interiors further drives the automotive fabric market, as consumers seek high-quality materials that not only provide safety but also enhance the overall driving experience.
Automotive Fabrics Companies
The key players profiled in the report include Autoliv Inc, (Sweden), Lear Corporation (US), Toray Industries (Tokyo), Hyosung Corporation (South Korea), Teijin Limited (Japan), Indorama Ventures Public Company (Thailand), Asahi Kasei Corporation (Japan), Toyobo Co., Ltd (Japan), Toyota Boshoku Corporation (Japan), SEIREN Co. Ltd. (Japan), and Suminoe Textile Co., Ltd. (Japan) and others. The automotive fabric market has witnessed insignificant growth in the past few years; government regulations and changing lifestyles drive the growth of this market. Market players are introducing new technologies, acquisitions, collaborations and features to acquire larger market shares.
Autoliv, Inc. is one of the global leaders in automotive safety products. They develop and manufacture lifesaving technologies like airbags, seatbelts, and pedestrian protection systems. The company is headquartered in Sweden and has a global with operations in 25 countries and 14 Tech Centers. Autoliv Inc, supply these crucial components to major automotive manufacturers around the world. Their overarching mission revolves around the continuous enhancement of safety standards through innovative approaches, with a steadfast commitment to saving lives.
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Lear Corporation is one of the leading companies in automotive seating and electrical systems, playing a pivotal role in shaping the modern automotive industry. It has 261 manufacturing, engineering, and administrative locations in 39 countries. Lear Corporation specializes in crafting innovative seating solutions that prioritize comfort, safety, and sustainability. Lear Corporation’s commitment to excellence is evident in its relentless pursuit of technological advancements and its dedication to meeting the constantly changing consumer demand regarding the look and conform of automotive interior components. The company offers their products to all automotive segments. Its extensive presence allows it to serve major automakers globally and maintain a dominant manufacturing and engineering footprint across various regions.
Light commercial vehicles segment is projected to register the highest CAGR, in terms of value, of the global automotive fabrics market during the forecast period.
Light commercial vehicles segment is projected to grow at high CAGR, in term of both value and volume, during the forecast period. One significant factor driving the demand is the expanding e-commerce sector, which necessitates efficient transportation solutions for delivery services. Additionally, the rise of urbanization and the increasing demand for urban logistics further drives the demand for LCVs. These vehicles are a great option for companies who operate in metropolitan areas because of their cost-effectiveness, adaptability, and manoeuvrability. Furthermore, advancements in technology has led to the development of more fuel-efficient and environmentally friendly light commercial vehicles, appealing to both businesses and regulatory bodies.
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Safety-Belts is estimated to be the second-largest application of automotive fabrics market, in terms of value, during the forecast period.
The market for safety-belts is experiencing a significant demand, propelled by the increasing focus on passenger safety across multiple industries. The demand for safety-belts is increasing due to stringent regulations that require all automobiles to have safety restraints installed. Additionally, increased awareness among consumers regarding the importance of vehicle safety features further fuels this market growth. Also, the rising number of automobiles on the road is another major driving factor for automotive fabric in safety-belts application.
Asia Pacific is estimated to be the largest market for the automotive fabrics market, in terms of value, during the forecast period.
Asia Pacific region is experiencing a high demand for automotive products which is driven by various factors. One major driver is the region’s rapid economic growth, leading to rising disposable incomes and an increasing middle class population with greater purchasing power. As a result, there is an increased demand for personal transportation, particularly in highly populated urban areas where access to public transportation may be limited.
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