Global Automotive Fabric Market: Snapshot
The world automotive fabric market is envisaged to attract a towering growth on account of an escalating demand for more fuel-efficient and lightweight automobiles. There has been an increasing usage of automotive textiles in lighter automobiles in the recent years. The growth of the world automotive fabric market could be further fortified by the rising production volume of automobiles on a global platform. Other key factors expected to stimulate growth in the world automotive fabric market include improving standard of living and disposable income of people and increasing safety measures concerning automobile drivers.
Rayon and polyester blends are commonly used as automotive fabrics. However, vinyl, thermoplastic polymers, and leather could earn a higher preference. While the expensive velour fabric is used for high-end automobiles, vinyl is an easy to maintain and affordable option. The telling usage of carpets in automobiles is predicted to set the tone for a staggering growth in the floor covering application market for automotive fabric. The airbags application could also gain momentum in the near future with technological innovations and mandatory safety policies taking shape in the automotive manufacturing industry.
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For the most part of automotive fabric application in passenger automobiles, characteristics such as resistance to UV rays, water, and fire, excellent elongation capability, and high strength could play a major role. Developed European countries and the U.S. are anticipated to take the lead in research and development activities to develop non-pollutant, lightweight, and natural sources for manufacturing automotive interior materials. This trend could substantially swell the growth of the world automotive fabric market.
Global Automotive Fabric Market: Overview
Automotive fabric is designed to offer high level of comfort and luxury to the consumer. It is used in seats, floor liners, doors, seat belts, cockpit, pillar covers, and headliners of vehicles. It also improves the overall ambience of a vehicle. The interior of a vehicle is one of the key factors increasing the aesthetic charm of the vehicle, along with playing a significant part in influencing the decisions of buyers.
While luxury and premium brands feature comfortable interiors, recently the mid-segment and economical vehicle brands have also adopted the practice, increasing the level of competition among the leading companies. One of the recent trends is the incorporation of cost-efficient technologies and economic interior materials by original equipment manufacturers (OEMs), in order to cater to the needs of mid-segment consumers without compromising on the comfort factor.
Based on extensive primary and secondary research, the report provides an in-depth analysis of key market opportunities, trends, growth drivers, and restraints. A description of the key market segments, market size, and market projection is also furnished. The factors such as competitive landscape, market attractiveness, and recommendations to companies have been laid down. The key business strategies, market shares, strengths and weaknesses of major market players have been revealed.
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Global Automotive Fabric Market: Drivers and Restraints
A surge in the demand for passenger cars and other vehicles in several countries is driving the market for automotive fabric. The rising demand for airbags, along with increasing emphasis on safety has been contributing towards market expansion. The strict traffic rules and regulations, with a heightened focus on passenger safety, particularly in countries such as Canada and Japan have been one of the key factors fuelling the market for automotive fabric. Moreover, countries such as the U.S., Spain, France, Mexico, Russia, Germany, Brazil, and South Korea have been exhibiting towering demand for cars, thereby boosting growth of the global automotive fabric market.
On the contrary, the availability of alternatives such as synthetic and natural leather, will prove to be major challenges obstructing market growth. However, the market for automotive fabric will benefit from the demand for customization, another important trend observed in the market for automotive fabric.
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Global Automotive Fabric Market: Regional Outlook
Based on geography, the global automotive fabric market can be segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America appears to dominate the regional landscape. The region of Asia Pacific is expected to emerge with a substantial momentum over the next few years. The market for automotive fabric in this region will gain impetus due to the growing demand for cars, trucks, and other vehicles. China appears to be the leading country segment in the Asia Pacific market. The Asia Pacific region, particularly countries such as Japan, India, China, and South Korea are projected to achieve vast amounts of profit due to the enlarging automotive industry, abundance of raw materials, and low costs of labor and transportation in these countries during the forecast period.
Companies Mentioned in the Report
Some of the major companies operating in the global market for automotive fabric are Suminoe Textile Co. Ltd., Martur Automotive Seating Systems, Haartz Corporation, Bmd Private Ltd., ACME Mills Company, Seiren Co., Ltd., Adient Plc, Grupo Antolin Irausa, S.A., Takata Corporation, Krishna, CMI Enterprises Inc., SRF Limited, Tenowo GmbH, Toyota Boshoku Corporation, and Sage Automotive Interiors Inc. The leading market players have been increasingly prioritizing new product development and launching efficient and attractive products at competitive prices.