Report : Automotive Fabric Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Component (Carpet, Headliner, Hood liner, Insulation, Seat Covering Material and Others) and Material (Textiles, Artificial Leather, Genuine Leather and Artificial Suede)
Growing Focus on Safety, Quality, and Better Automotive Aesthetics to Escalate Automotive Fabric Market Growth
According to our latest market study on “Automotive Fabric Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component (Carpet, Headliner, Hood liner, Insulation, Seat Covering Material and Others) and Material (Textiles, Artificial Leather, Genuine Leather and Artificial Suede),” the market was valued at US$ 32,665 million in 2019 and is projected to reach US$ 41,491 million by 2027; it is expected to grow at a CAGR of 4.7% from 2020 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Automotive fabrics are available in the form of woven or nonwoven and coated or composite type. These fabric materials are quite flexible, and they possess features such as UV ray resistance and cold cracking. They are durable and lightweight in design. Automotive fabrics aim to provide seating comfort, as well as promote the overall aesthetic appearance and experience. The materials used in preparation of such fabrics play a significant role in promoting car efficiency along with ensuring safety and adding to overall quality of the vehicle.
The focus on developing enhanced automotive interior and exterior aesthetics and properties has been increased owing to a shift in consumer lifestyle. The use of advanced and functional textiles and fabrics is not restricted to promoting a vehicle appearance but they are also used to promote safety and performance of vehicle. Hence, the demand for automotive fabric has been driven by rising consumer focus toward safety, quality, and aesthetic properties. The evolution of advanced textile materials with multifunctional properties, coupled with rise in incidence of accidents and mishaps associated with vehicle’s inefficiency, is among the other factors proliferating the market growth. The automotive fabric market is positively influenced by the stringent safety regulations formulated and incorporated by the governments in various economies. The mandatory installation and use of seat belts, airbags, and anti-lock braking systems to promote in-vehicle safety are expected to increase the demand for high performing fabric material. For instance, the Bharat National Car Assessment Programme formulated by the Government of India incorporates its own safety authority, which rates the vehicle based on in-vehicle safety, feature, and performance. All such initiatives undertaken by governments are strongly contributing toward spreading awareness about the safety features to be deployed in vehicles, thereby driving the automotive fabric market.
Aunde Group SE; Bader Gmbh And Co. KG; Borgstena Gruppen; Boxmark Leather; Classic Soft Trim; CMI Enterprises; DK Leather Corporation Berhad; Grupo Copo; JBS Couros; Kyowa Leather Cloth; Lear Corporation; Martur; Moriden America, INC.; Sage Automotive Interiors INC.; Scottish Leather; Seiren Co., Ltd; Shawmut Corporation; Suminoe Textile Co., LTD; TB Kawashima CO., LTD; and Vulcaflex S.P.A. are among the well-established players in the global automotive fabric market.
Impact of COVID-19 Pandemic on Automotive Fabric Market
Coronavirus pandemic first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst-affected countries in terms of confirmed cases and reported deaths. The coronavirus pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemical & materials industry in a negative manner, and thus, act as restraining factor for the growth of various markets related to this industry in the coming months. The market for automotive fabrics is impacted by the pandemic due to shortfall in production along with limited transportation facilities.
The report includes the segmentation of the global automotive fabric market as follows:
Global Automotive Fabric Market, by Component
Global Automotive Fabric Market, by Material
Global Automotive Fabric Market, by Geography