Dublin, April 16, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Fabrics Market by Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy Trucks, Buses & Coaches), Application (Floor Coverings, Upholstery, Pre-Assembled Interior Companents, Tires, Safety-Belts, Airbags)- Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the automotive fabrics market is estimated to grow from USD 40.5 billion in 2024 to USD 51.4 billion by 2029, at a CAGR of 4.9%. Lightweight materials are prioritized in electric vehicles to optimize battery efficiency and range. Automotive fabrics like polyester help reduce the vehicle's overall weight by providing a lighter substitute for conventional materials like leather or bulky textiles. Also, manufacturers are making an effort to set themselves apart from the competition as the market for EVs expands. Automobile fabrics offer a means of personalization, enabling producers to present distinctive interior styles and visuals that cater to the tastes of customers. 
Light commercial vehicles are estimated to be the second-largest vehicle type of automotive fabric market, in terms of value, during the forecast period.
The market for Light Commercial Vehicles (LCVs) represents a significant segment in the automotive fabric market, standing as the second-largest market after passenger cars. Vans, pickup trucks and utility vehicles are examples of LCVs. They are used for a variety of business applications, including small-scale transportation requirements, tradesman services and the delivery of commodities. The growth is driven by the vital role LCVs play in facilitating business operations and logistics across various sectors, from e-commerce and construction to agriculture and services. The global small and medium-sized business sector is growing, and this is driving demand for effective last-mile delivery and urban logistics solutions. As a result, LCV market is growing gradually, driven by advancements in vehicle design, technology, and sustainability initiatives.
Airbags is projected to register highest CAGR, in terms of value, during the forecast period.
Globally, there is a noticeable increase in demand for the fabrics used in airbags due to the increased focus on automobile safety regulations. The increasing emphasis placed by automakers on improving occupant safety has led to the widespread installation of airbag systems in automobiles. The increased focus on safety, along with the strict regulations requiring enhanced safety systems in cars, has fueled the explosive growth of fabrics used for airbag applications.
North America is projected to be the second fastest-growing region, in terms of value, during the forecast period in the automotive fabrics market.
North America is projected to be second fastest-growing region in the automotive fabric market, in terms of value, during forecast period due to shifting consumer preferences towards cars which are safe and attractive and also has an esthetic look. Automakers have also prioritized lightweight materials, such as innovative textiles, to reduce overall vehicle weight and increase fuel economy due to strict restrictions governing vehicle emissions and fuel efficiency. In addition, the growing popularity of electric cars (EVs) in North America is increasing the need for specialty textiles with improved durability and thermal management capabilities to satisfy the particular needs of EV interiors. All these factors drive the market for automotive fabric in North America.
The report provides insights on the following:
- Market Penetration: Comprehensive information on automotive fabrics offered by top players in the global market
- Analysis of key drives: (rising demand for EVs, rising safety measures, and necessity for weight reduction due to stringent CO2 emission), restraints (availability of substitutes, fluctuations in raw material costs), opportunities (increasing production of different types of automobiles, innovative technological development in automotive fabric industry), and challenges (strict HAP emission regulations monitoring automotive fabric market) influencing the growth of automotive fabrics market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive fabrics market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for automotive fabrics across regions.
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global automotive fabrics market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the automotive fabrics market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 276 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $40.5 Billion |
| Forecasted Market Value (USD) by 2029 | $51.4 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Passenger Cars Segment to Dominate Automotive Fabrics Market During Forecast Period
- Floor Coverings Segment to Lead Global Automotive Fabrics Market During Forecast Period
- Asia-Pacific to Register Highest CAGR During Forecast Period
Premium Insights
- Attractive Opportunities for Players in Automotive Fabrics Market - Growing Demand for Airbags and Safety Belts to Drive Market
- Automotive Fabrics Market, by Region - Asia-Pacific to be Fastest-Growing Market During Forecast Period
- Asia-Pacific: Automotive Fabrics Market, by Application and Country - China Accounted for Largest Share of Asia-Pacific Automotive Fabrics Market
- Automotive Fabrics Market, by Application - Airbags Segment to Register Highest CAGR During Forecast Period
- Automotive Fabrics Market, by Vehicle Type vs. Region - Passenger Cars Segment Led Overall Automotive Fabrics Market in Most Regions in 2023
- Automotive Fabrics Market, by Key Country - Automotive Fabrics Market in India to Register Highest CAGR Between 2024 and 2029
Key Market Dynamics
Drivers
- Adoption of Safety Measures in Automobiles
- Weight Reduction Requirements in Automobiles due to Stringent Regulations on Co2 Emissions
- Rising Demand for Electric Vehicles (EVs)
Restraints
- Availability of Substitutes
- Fluctuations in Raw Material Prices
Opportunities
- Increasing Production of Automobiles
- Innovative Technological Developments in Automotive Fabrics Industry
Challenges
- Stringent Emission Regulations
Case Studies
- Acme Automotive Seating Solution
- TEX-Tech Industries Emphasize Material Innovation to Meet Stringent Performance Requirements
Technology Analysis
- Key Technologies
- Spacer Fabrics in Car Seat Coverings
- Integration of Technical Textiles in Automotive Fabrics
- Complementary Technologies
- Development of Emerging and Sustainable Technologies Such as Recyclable Microfiber and Bio-based Materials
Companies Profiled
- Autoliv
- Lear
- Toray Industries
- Hyosung
- Teijin Limited
- Indorama Ventures Public Company
- Asahi Kasei Corporation
- Toyobo Co. Ltd.
- Toyota Boshoku Corporation
- Seiren Co. Ltd.
- Suminoe Textile Co. Ltd.
- Srf Limited
- Autoneum Holding
- Haartz Corporation
- Milliken & Company
- Kolon Industries
- Glen Raven, Inc.
- Martur Automotive Seating System
- Acme Mills
- Moriden
- Tb Kawashima
- Katzkin Leather
- Navbharat Textile Processors
- Parishudh Fibres
- Heathcoat Fabrics
- Kusumgar Corporates
For more information about this report visit https://www.researchandmarkets.com/r/ar1jb3
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