Automotive Fabric Market Size To Reach USD 49.79 BN In 2030 | Rising Demand For Automotive Accessories Among Consumers And Increasing Consumer Preference Towards Modified Interiors Of Passenger Cars Are Some Of The Key Factors Driving Market Growth, says Emergen Research
PR Newswire
NEW YORK, Feb. 28, 2022
NEW YORK, Feb. 28, 2022 /PRNewswire/ -- The global automotive fabric market size is expected to reach USD 49.79 Billion in 2030 and register a revenue CAGR of 4.4% during the forecast period, according to a latest report by Reports and Data. Rising demand for automotive accessories among consumers and increasing consumer preference towards modified interiors of passenger cars are key factors expected to drive market revenue growth during the forecast period. In addition, shifiting preference for cruelty-free automotive fabrics among consumers is expected to boost revenue growth of the automotive fabric market between 2022 and 2030. Currently, consumers are highly inclined towards materials that are manufactured without any harm to animals and are highly sustainable to the environment. This is expected to increase demand for cruelty-free fabrics and drive the revenue growth of the global market.
Increasing adoption of automotive fabrics, which are anti-bacterial, anti-static, and odor absorbent, is creating higher demand for automotive fabrics. This is another factor expected to boost market revenue growth in the years to come. Additionally, rising consumer preference towards modified and customized interiors for aesthetic appearance of passenger cars is expected to boost revenue growth of the global market.
However, concerns regarding quality and durability of automotive fabrics is one of the factors that could restraint revenue growth of the global market. Additionally, some manufacturers could use low quality and less durable automotive fabrics due to comparatively higher cost of the product, limiting the adoption of automotive fabrics. Some fabric materials need regular cleaning to protect it from damage from exposure to sun, which increases cost of fabric maintenance. These factors could restrain revenue growth of the global market to some extent.
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Some Key Highlights in the Report
- Vinyl segment is expected to register steady revenue growth rate over the forecast period. Rising adoption of rigid, easy to handle, and durable fabrics for automotive is leading to rising demand for vinyl fabric among consumers, which is expected to boost revenue growth of the segment. Vinyl fabrics are also used in interior parts of door panels and dashboards due to high durability property of the product, which is expected to boost revenue growth of the segment.
- Tires segment is expected to register steady revenue growth rate over the forecast period. Rising usage of automotive fabrics in tires for additional strength and support vehicle weight is creating higher demand for automotive fabrics for use in tires, which is expected to drive growth of the segment.
- Commercial vehicle segment is expected to register steady revenue growth rate over the forecast period due to rising adoption of wrinkle- and water-resistant automotive fabrics for use in commercial vehicles is creating higher demand for automotive fabrics in commercial vehicles, which is expected to drive revenue growth of the segment.
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- The market in North America is expected to register considerably high revenue CAGR over the forecast period. Increasing technological advancements in the automotive industry and increased consumer inclination towards more advanced automotive fabrics that provide aesthetic appearance to vehicles are factors expected to drive revenue growth of the market in the region. Additionally, rising need for more efficient and cost-effective automotive fabrics is increasing product demand in various countries in the region, which is expected to drive revenue growth of the North America automotive fabric market.
- Companies profiled in the global market report include Adient Plc, Lear Corporation, Toyota Boshoku Corporation, Seiren Co., Ltd., Suminoe Textile Co., Ltd., SRF Limited, Grupo Antolin Irausa, S.A, Heathcoat Fabrics Limited, Aunde Group SE, and Tesca Technologies Pvt. Ltd.
- In August 2020, Adient Plc, global leader in automotive seating, announced closing of the transactions contemplated by its previously announced definitive joint venture agreement with Yagfeng Automotive Trim Systems Co. Ltd., to change the existing transaction relationship between the companies.
To identify the key trends in the industry, research study at : https://www.reportsanddata.com/report-detail/automotive-fabric-market
For the purpose of this report, Reports and Data has segmented the global automotive fabric market based on fabric type, application, vehicle type, and region:
- Fabric Type Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- Polyester
- Leather
- Vinyl
- Nylon
- Suede
- Others
- Application Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- Floor Covering
- Pre-assemble Interior Component
- Upholstery
- Air Bags
- Safety Belts
- Tires
- Others
- Vehicle Type Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- Passenger Vehicle
- Commercial Vehicl
a. Light Commercial Vehicle
b. Heavy Trucks
c. Buses & Coaches
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- Regional Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- North America
a. U.S.
b. Canada
c. Mexico - Europe
a. Germany
b. UK
c. France
d. Italy
e. Spain
f. Sweden
g. BENELUX
h. Rest of Europe - Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC - Latin America
a. Brazil
b. Rest of LATAM - Middle East & Africa
a. Saudi Arabia
b. UAE
c. South Africa
d. Israel
e. Rest of MEA
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View original content:SOURCE Emergen Research
