Automotive Fabric Market

Surge in sales of vehicles and standards regarding safety for usage of safety-belts, airbags imposed by Govt. fuel the growth of the automotive fabric market

PORTLAND, OR, UNITED STATES, March 8, 2023 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Automotive Fabric Market Size by Fabric Type (Polyester, Vinyl, Leather, Nylon and Others), Application (Carpets/Floor Covering, Upholstery, Pre-assembled Interior Components, Tires, Safety Belts, Airbags and Others) and Application (Passenger Vehicle and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global automotive fabric industry generated $32.13 billion in 2019, and is estimated to reach $39.14 billion by 2027, witnessing a CAGR of 4.8% from 2020 to 2027.

Download Free Sample Report at https://www.alliedmarketresearch.com/request-sample/5183

Drivers, restraints, and opportunities

Increase in vehicle sales and stringent safety standards for usage of airbags, safety-belts, and others by governments drive the growth of the global automotive fabric market. However, surge in raw material costs and rise in opposition for the usage of leather hinder the market growth. On the other hand, increase in demand for environment-friendly fabric materials and low-weight automotive fabric to reduce vehicle pollution present new opportunities in the coming years.

Covid-19 Scenario

Day-to-day operations in the automotive industry halted due to lockdown implemented by different governments. There has been shortage of raw materials, decline in sales of vehicles, and reduced production. This resulted in reduced demand for automotive fabrics.
Many fabric manufacturers began alternative businesses by beginning production of PPE kits, face masks, and protection shields.
The demand for fabrics for automotive vehicles would increase steadily as daily activities in the automotive sector begin during post-lockdown.

Request for Customization of this report at https://www.alliedmarketresearch.com/request-for-customization/5183

The carpet/floor covering segment to maintain its lead position during the forecast period

Based on application, the carpet/floor covering segment contributed to the highest share in 2019, accounting for around one-fourth of the global automotive fabric market, and is projected to maintain its lead position during the forecast period. This is due to availability in different sizes & materials including synthetic rubber or textile materials and protection from dirt and dust. However, the airbags segment is expected to register the highest CAGR of 6.6% from 2020 to 2027, owing to increased car production and introduction of more bags per car.

The passenger vehicle segment to maintain its leadership status during the forecast period

Based on vehicle type, the passenger vehicle segment held the largest market share, contributing to nearly three-fourths of the global automotive fabric market in 2019, and will maintain its leadership status during the forecast period. In addition, this segment is projected to manifest the fastest CAGR of 5.0% from 2020 to 2027. This is attributed to wide application of fabric in passenger vehicles in OEMs and aftermarkets. The report also analyzes the commercial vehicle segment.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/5183

Asia-Pacific, followed by Europe and North America, to continue its dominant share by 2027

Based on region, Asia-Pacific, followed by Europe and North America, accounted for the highest share in 2019, holding around two-fifths of the global automotive fabric market, and will continue its dominant share in terms of revenue by 2027. Moreover, this segment is expected to maintain the highest CAGR of 5.7% during the forecast period. This is attributed to increased production and sales of vehicles across various countries in the region.

Leading market players

Acme Mills Company
Adient plc.
Heathcoat Fabrics Limited
Lear Corporation
Martur Automotive Seating System
Seiren Co., Ltd.
SRF Limited
Suminoe Textile Co., Ltd.
Toyota Boshoku Corporation
Navbharat Textile Processors
Parishudh Fibres
Shandong Exceeding Auto Interior Parts Co., Ltd.

Similar Reports We Have on Automotive Industry:

Automotive Interiors Market - https://www.alliedmarketresearch.com/automotive-interiors-market

Motorcycle Seat Market - https://www.alliedmarketresearch.com/motorcycle-seat-market-A10082

Automotive Seat Climate Systems Market - https://www.alliedmarketresearch.com/automotive-seat-climate-systems-market

Aircraft Cabin Interior Market - https://www.alliedmarketresearch.com/aircraft-cabin-interior-market

Yacht Interior Market - https://www.alliedmarketresearch.com/yacht-interior-market-A11382

David Correa
Allied Analytics LLP
+1-800-792-5285
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.