The global automotive fabric market size is anticipated to reach of around US$ 38 bn by 2027 and growing at a CAGR of 3% over the forecast period 2020 – 2027.
Automotive fabric, which include interior carpets, seats, headliners, dashboards, etc. are often used for auto timbering & interior vehicles. Such fabrics are meant for maximum comfort, safety and security in the driving for passengers. These also improve the interior ambiance, giving the vehicle an attractive look. Four types of auto fabrics are primarily used in vehicles: cotton, vinyl, nylon and polyester.
The major factors that are driving the growth of global automotive fabric market is due to increasing demand for automobiles, rising government safety rules, increase in the number of vehicle production, changing standard of people, and growing disposable income. Moreover, increasing automotive industry, a rapidly expanding market for automobile accessories and fast economic growth are some of the factors that can boost the demand for automotive products over the forecast period as well as advanced elements such as elasticity, breakage and wear resistance. However, there the easy availability of substitute in materials such as natural leather, synthetic leather, and Polyvinyl chloride (PVC) may hinder the growth of automotive fabric market during forecast period.
Surge in raw material cost
For the manufacturing of interior components, various raw materials, including steel, rubber and leather are used. Additionally, rising costs of these raw materials have a negative impact on the interior automotive manufacturers. Many companies on the market are adversely impacted by the import tariff on steel and aluminum. Demand growth in fabrics for airbags and various interior products in the automotive sector and tariffs in the U.S. raised steel prices by nearly 40% from 2018 to 2019. This rise in the prices of goods is projected in the forecast period to hinder the development of the automotive interior market.
The market research study on “Automotive Fabric Market (By Fabric Type: Polyester, Vinyl, Leather, Nylon, Others; By Vehicle Type: Passenger Vehicle, Commercial Vehicle; By Application: Carpets, Upholstery, Pre- assembled interior components, Tires, Safety Belts, Airbags, Others) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global automotive fabric market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global automotive fabric market are drug class, type, distribution channel and major geographic regions. The automotive fabric market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The fastest growing automotive fabric demand from 2020 to 2027 is expected in North America. The demand for automotive sector is driven by high domestic demand for and export dynamism for vehicles, strict automotive regulations and requirements for use of airbags and national highway traffic safety administration (NHSTA) safety belts, and strong economy and technical progress in the automotive industry. The automotive manufacturing market in Asia Pacific hold major market share of global automotive fabric market and is expected to see substantial growth during forecast period. Increasing automotive manufacture in Asia and the increase in passenger vehicles are key factors in improving the auto manufacturing market in the region. India, China and Japan are also some of the leading vehicle manufacturer countries and will make a major contribution to the development of the Asia Pacific automobile fabric industry in the Asia Pacific.
Impact of COVID-19
COVID-19 quickly broke out, posing unforeseen challenges for the whole automotive supply chain. Such primary concerns include OEM shutdowns, decreased supplies, lack of labor and shortages of raw materials. Nearly half of the survey respondents said that COVID-19 has had "small impacts" on activity, including a reduced production loss in Asia (China and Japan, mainly) as a consequence of lower OEM requirements and a higher tolerance, where 46% of respondents reported disruptions. According to the report, 64% of respondents claiming it are European-based area that has the biggest effect on the other side of the spectrum. A significant incident, such as a plant closure, is described as a severe effect. As far as North America is concerned, according to survey respondents, between Asia and Europe, the mood of the supply base has been seen to be compatible with the effects of the epidemic as Asia continues to rebound while Europe remains central to the new outbreak.
Major players included in this report Suminoe Textile Co. Ltd., Lear Corporation, Grupo Antolin Irausa, SRF Limited, Acme Mills Company, Adient Plc., Seiren Co., Ltd., Toyota Boshoku Corporation, Heathcoat Fabrics Limited, Martur Automotive Seating System, S.A., and others. In March 2018, Adient India announced a partnership with Arvind Ltd. on the production, manufacture and selling of car fabrics in this region. Adient Indian arm, an Indian arm of automotive fabric company
The global automotive fabric market is segmented as below:
Automotive Fabric Market By Fabric Type
Automotive Fabric Market By Vehicle Type
Automotive Fabric Market By Application
Automotive Fabric Market By Geography
Middle East & Africa
Automotive fabric, which include interior carpets, seats, headliners, dashboards, etc. are often used for auto timbering & interior vehicles.
There is rise in safety measures in automotive application is expected to drive the growth of the automotive fabric market.
Availability of substitutes is a major factor expected to restraint the growth of the market.
The automotive fabric market value is anticipated to be hit around US$ 38,000 Mn in 2027.
The automotive fabric market is anticipated to grow around 3% CAGR amid the forecast period 2020-2027.
North America is projected to grow at a fast pace during forecast period from 2020-2027.
Major players included in the automotive fabric market are Suminoe Textile Co. Ltd., Lear Corporation, Grupo Antolin Irausa, SRF Limited, Acme Mills Company, Adient Plc., Seiren Co., Ltd., Toyota Boshoku Corporation, Heathcoat Fabrics Limited, Martur Automotive Seating System, S.A., and others.