Innovative technological development in automotive fabrics industry to boost its demand in the global market

NEW YORK, UNITED STATES, March 15, 2022 /EINPresswire.com/ -- The scope of The Insight Partners recent study on the “Automotive Fabric Market to 2027 – COVID-19 Impact and Global Analysis – by Component (Carpet, Headliner, Hood liner, Insulation, Seat Covering Material and Others) and Material (Textiles, Artificial Leather, Genuine Leather and Artificial Suede)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments. The automotive fabric market to reach US$ 41,491 million by 2027 from US$ 32,665 million in 2019 and it is expected to grow at a CAGR of 4.7% from 2020 to 2027.

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Automotive fabrics are such type of fabrics which are available in the form of woven or nonwoven, coated, or composite type. Such type of fabric materials is quite flexible and possesses features such as resistance towards UV rays and cold cracking along with durability and lightweight in design. Automotive fabrics aims to provide seating comfort as well as promotes the overall aesthetic appearance and experience. The materials in preparation of such fabrics plays significant role in promoting car efficiency along with ensuring safety and adding to overall quality of the vehicle. The growth of the market is strongly driven by advancements in technology along with preference towards superior comfort and high-quality materials. Rapid urbanization coupled with economic growth and surging demand for automobiles accessories are some factors which are expected to promote the demand for automotive fabric market.

In 2019, Asia Pacific contributed to the largest share in the global automotive fabric market. The growth of the automotive fabric market in this region is primarily attributed to the presence of strong industrial base along with prominent manufacturers significantly contributing to market growth. Growth of the automotive sector in the developing countries such as China and India provides lucrative opportunities for the growth of the automotive fabric market in Asia Pacific. Further, rapid urbanization along with significant growth in population is favoring the market growth in the region. The easy accessibility and availability of raw materials, coupled with cheap labor and low production cost, is yet another factor boosting the market growth in the region.

Impact of COVID-19 Pandemic on Automotive Fabric Market

Coronavirus pandemic first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. As of April 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst-affected countries in terms of confirmed cases and reported deaths. The coronavirus pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods.

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Product innovations along with the technological advancements in automotive fabrics industry is providing lucrative opportunities for the market growth. For instance, the latest innovation associated with the creative mix of seatbelts and airbags is prepared with round and smooth edges to offer better comfort and experience to the wearer. Such feature is aimed to reduce the extent of damage, as it helps distribute the force equally across the passenger’s body. This technique incorporates the use of special type of micro-fibre with ultra-light, flame proof, and abrasion resistant features for interior of the car. Additionally, this micro-fibre is counted as 100% environment-friendly material. Thus, the incorporation of such advanced features in the product is expected to promote the demand for advanced automotive fabrics in global market.

The significant use of knitted and woven fabrics owing to their improved flexibility, comfort, stretchability, and better visual quality is expected to promote the demand for such fabrics. Further, the manufacturers are preferring light-weight composite material, which possesses minimal moisture content and are integrated with advanced adhesive technology to regulate sealing, vibration, and harshness in vehicles. Also, the use of fabrics in floor covering is also expected to absorb noise and vibration to enhance the overall experience.

Automotive Fabric Market: Competitive Analysis

Aunde Group SE; Bader Gmbh And Co. KG; Borgstena Gruppen; Boxmark Leather; Classic Soft Trim; CMI Enterprises; DK Leather Corporation Berhad; Grupo Copo; JBS Couros; Kyowa Leather Cloth; Lear Corporation; Martur; Moriden America, INC.; Sage Automotive Interiors INC.; Scottish Leather, Seiren Co., Ltd; Shawmut Corporation; Suminoe Textile Co., LTD; TB Kawashima CO., LTD; and Vulcaflex S.P.A. are among the major players operating in the global automotive fabric market.

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