Automotive fabric offers maximum comfort and pleasurable ride to passengers, and helps in enhancing the interior ambience as well as vehicle safety. Automotive fabric is UV rays resistant, cold cracking resistant, durable, easy to clean, and helps in minimising fatigue. Knitted, woven and non-woven are three types of automotive fabrics primarily utilised in vehicles.
Manufacturers focusing on Light-weight Composite Materials for Automotive Fabric
Automotive fabrics has been helping manufacturers in meeting the sustainable strategy goals, with the provision of advanced products to end-users. The automotive industry has been using various fabrication technologies, may it be for niche motorcycles or for heavy commercial vehicles. Automotive fabric manufacturers are increasingly focusing on adoption of light-weight composite material, which has lower moisture content, and an advanced adhesive technology for improving sealing, vibration, and harshness performance of vehicles.
Automotive fabric has also witnessed a significant adoption in floor covering, owing to its noise and vibration absorption properties. Other factors influencing demand for automotive fabric include its provision of advanced features such as breakage & wear resistant and elasticity, soaring adoption of automobile accessories, and rapid economic development. However, increasing availability of alternative counterparts such as PVC, natural leather, and synthetic leather is expected to remain as a challenge for automotive fabric manufacturers.
A new research analysis report by Future Market Insights (FMI) has projected the global automotive fabric market to ride on an impressive CAGR over the forecast period (2017-2022). Global sales of automotive fabric is estimated to account for approximately US$ 250 Mn revenues by 2022-end.
Europe to Account for Largest Share of the Global Automotive Fabric Market
In terms of revenues, the largest share of the global automotive fabric market will continue be accounted by Europe, followed by North America and Asia-Pacific excluding Japan (APEJ). However, Latin America and Japan are anticipated to remain the fastest expanding markets for automotive fabric during the forecast period. Middle East and Africa is expected to remain the least lucrative market for automotive fabric.
In terms of revenues, compact passenger cars will continue to be the most lucrative vehicles in the global automotive fabric market, followed by mid-sized passenger cars and light commercial vehicles. In addition, sales of automotive fabric are projected to register the fastest expansion in compact passenger cars and light commercial vehicles. A steady expansion has been projected for sales of automotive fabric in premium passenger cars and mid-sized passenger cars.
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Airbags and Floor Covering – Most Lucrative Applications of Automotive Fabric
Airbags and floor covering will continue to be the most lucrative applications of automotive fabric, with sales expanding at steady CAGRs through 2022. Automotive fabric sales will witness the fastest expansion in car roof and tires, and are estimated to collectively account for over US$ 70 Mn revenues by 2022-end. Belts and hoses will also remain a lucrative application of automotive fabric over the forecast period.
Although OEM will remain the largest sales channel for automotive fabrics, sales in aftermarket are projected to register a slightly higher CAGR than that in OEM through 2022. However, revenues from sales of automotive fabrics in OEM will remain significantly higher than in aftermarket during 2017 to 2022.
Woven fabric will remain preferred among products in the global automotive fabric market. However, sales of knitted fabric and non-woven fabric will reflect relatively higher CAGRs through 2022, with the latter remaining comparatively more lucrative than the former.
FMI’s report has offered a detailed analysis on the competitive landscape of the market, along with presence of key companies through an intensity map. These companies include Lear Corporation, ACME, SETEX-Textil-GmbH, Delcotex Delius Techtex GmbH & Co. KG, HYOSUNG, and Adient Plc.
The report has categorised the global market for automotive fabric based on five key segments viz. vehicle type, application, sales channel, product type, and region. Y-o-Y growth comparison, along with revenue and market share comparison have been used for providing insights on the market numbers related to segmentation analysis.
- North America
- Latin America
- Woven Fabric
- Non – woven Fabric
- Knitted Fabric
- Floor Covering
- Belts & Hoses
- Car Roof
- Pre-Assembled Interior Component (PRIC)
- Other Applications
- Compact Passenger Cars
- Mid-sized Passenger Cars
- Premium Passenger Cars
- Luxury Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles