The global automotive fabric market is expected to experience significant growth at a substantial Compound Annual Growth Rate (CAGR) throughout the forecast period. Automotive fabric plays a crucial role in enhancing the interior ambiance of automobiles, which is the primary reason behind its high market demand. The increase in disposable income among middle-class families and the rising GDP in major economies are contributing to an increased expenditure capacity of consumers. Additionally, stringent government policies and regulations aimed at ensuring passenger safety, as well as the implementation of laws for airbags and safety belts, are expected to drive market growth.
The surge in worldwide vehicle production, driven by the growing preference for vehicle ownership to ensure safety and convenience for consumers, is fostering the demand for automotive fabric across the globe. Furthermore, the investment in research and development to invent new applications in the passenger cars segment is increasing the demand for automobiles, indirectly influencing the global automotive fabric market. Automobile manufacturers are also striving to upgrade car safety features, and the expansion of leather companies is anticipated to boost product demand worldwide.
The market growth is also driven by consumers’ increasing preference for environmentally friendly automotive fabrics and the use of lightweight automotive fabric to minimize pollution impact on the environment across various regions.
The global automotive fabric market is segmented based on vehicle type, application, fabric type, regional distribution, and company. In terms of regional analysis, the Asia-Pacific region is expected to dominate the market. The rise in awareness among consumers regarding animal rights, supported by organizations like PETA, CAFT, CFI, among others, is giving rise to demand for alternative automotive fabric options. Moreover, the increase in disposable income and high demand for passenger cars are crucial factors leading to the rising demand for automotive fabric in the region.
Key players operating in the global automotive fabric market include Takata Corporation, Toyota Boshoku Corporation, SRF Limited, Sage Automotive Interiors Inc., Grupo Antolin Irausa, S.A., Tenowo GmbH, ACME MILLS COMPANY, Glen Raven, Inc, Haartz Corporation, Martur Automotive Seating System, among others. These major companies are actively developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and the introduction of new services.
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- To analyze the historical growth of the marketsize of global automotive fabric market from 2018 to 2021.
- To estimate and forecast the market size of global automotive fabric market from 2022 to 2028 and growth rate until 2028.
- To classify and forecast global automotive fabric market based on vehicle type, application, fabric type, regional distribution, and company.
- To identify dominant region or segment in the global automotive fabric market.
- To identify drivers and challenges for global automotive fabric market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global automotive fabric market.
- To identify and analyze the profile of leading players operating in global automotive fabric market.
- To identify key sustainable strategies adopted by market players in global automotive fabric market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global automotive fabric market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Automotive fabric manufacturing companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to automotive fabric market.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.