Selbyville, Delaware, May 29, 2023 (GLOBE NEWSWIRE) --
Automotive Fabric Market size is expected to cross a valuation of USD 51 billion by 2032, according to the latest research report by Global Market Insights Inc.
As vehicle owners place a higher emphasis on comfort, durability, and the appearance of interiors, the demand for automotive fabric is on the rise. Additionally, the growing focus on safety regulations and environmental concerns has pushed manufacturers to develop innovative, eco-friendly fabric materials. Automotive fabric manufacturers are increasingly using recycled materials and natural fibers to produce materials that are environmentally friendly and sustainable.
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Another trend fueling the automotive fabric market progress is the growing demand for lightweight and high-performance fabrics. These fabrics help reduce the vehicle's overall weight, which improves fuel efficiency and reduces emissions. They are also designed to withstand extreme conditions such as high temperatures, humidity, and UV radiation. The development of such specialized materials will contribute to the industry growth by 2032.
Leather gains traction as durable fabric for premium automotive interiors
The leather segment will hold a substantial share of the global automotive fabric industry due to the escalating demand for premium vehicles, as these materials offer superior comfort and aesthetic value. Furthermore, leather exhibits remarkable resistance to wear and tear, ensuring long-lasting durability even under harsh conditions. It also provides resistance to spills, stains, and fading, making it ideal for automobiles that endure frequent use. The high quality of this fabric type also enhances the overall value and resale potential of vehicles, which will drive product consumption over the forthcoming years.
Safety belts to emerge as a key application area
Automotive fabric market share from safety belt applications will register substantial growth through 2032, given the strong emphasis on safety in the automotive industry. This is leading to the integration of advanced fabrics in safety components such as safety belts, to provide optimal protection to passengers during accidents, minimizing the risk of injury.
Safety belts are made from specialized polyester or nylon fabrics, which offer superior tensile strength, abrasion resistance, and resistance to UV degradation. These qualities ensure that the belts can withstand the forces experienced during a collision and maintain their structural integrity. These factors will amplify the demand for durable and high-strength automotive fabrics in the production of safety belts and other components.
North America to remain a key market for automotive fabrics
North America automotive fabric market will witness commendable growth during 2023-2032. attributed to the factors such as the high demand for luxury vehicles, the presence of a well-established automotive industry, and the increasing demand for lightweight and high-performance fabrics. The United States, in particular, has a large and well-established automotive industry, with several leading automakers like General Motors, Ford, and Tesla headquartered in the country.
The region is home to numerous automotive fabric suppliers and manufacturers, catering to the growing demand for high-quality materials in vehicle production. Additionally, stringent safety regulations have encouraged the adoption of advanced fabrics in safety-critical applications such as safety belts and airbags, which may accelerate regional market growth.
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Major automotive fabric industry players
Key players operating in the automotive fabric market include Acme Mills Company, Heathcoat Fabrics Limited, Lear Corporation, Toyota Boshoku Corporation, Sage Automotive Interiors, Tesca, Parishudh Fibres, Shandong Exceeding Auto Interior Parts Co., Changzhou Jlon Composite Co. and Cigno Leather Company Limited, among others.
Automotive fabric industry news
- In March 2020, Tesca, a provider of value-added textile parts, seating components, and automotive fabrics, announced the acquisition of Willy Schmitz and its operations in Germany. With this move, the companies were aiming to create a more efficient and broader platform to support their global consumer network.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Automotive Fabric Market industry 3600 synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Fabric type trends
2.1.4 Application trends
2.1.5 Vehicle type trends
Chapter 3 Automotive Fabric Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 – 2032
3.3 Industry ecosystem analysis
3.4 Regulatory Landscape
3.5 Pricing analysis
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Rise in vehicle sale
3.6.1.2 Rise in number of accidents
3.6.1.3 Governments’ stringent safety standards for usage of airbags, safety-belts, and others
3.6.1.4 Rise in demand for low-weight automotive fabric to reduce vehicle pollution
3.6.2 Industry pitfalls & challenges
3.6.2.1 Fluctuating raw material prices
3.7 Growth potential analysis, 2022
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 COVID-19 impact on Automotive Fabric demand by vehicle type
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
