South America Automotive Fabric Market is expected to reach US$ 1,671.24 Mn by 2027

Textiles Segment to Dominate South America Automotive Fabric Market during 2020–2027

According to The Insight Partners market research study on “South America Automotive Fabric Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast – by Application, Covering Material Type and Country,” is expected to reach US$ 1,671.24 million by 2027 from US$ 1,268.42 million in 2019. The market is estimated to grow at a CAGR of 3.7% from 2020 to 2027. The report provides trends prevailing in the South America automotive fabric market along with the drivers and restraints pertaining to the market growth. Escalating focus over safety, quality, and better automotive aesthetics and an upsurge in the sales of vehicles are the major factors driving the growth of the South America automotive fabric market. However, the availability of alternative materials on a large scale may hinder the growth of South America automotive fabric market.

In case of COVID-19, in South America, especially Brazil, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of automotive manufacturing activities; other automotive components manufacturing sector has subsequently impacted the demand for automotive fabric during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of automotive equipment manufacturing projects, thereby reducing the demand for automotive fabric. Similar trend was witnessed in other South American countries, i.e., Argentina, Colombia, Peru, Chile and Ecuador. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

The market for South America automotive fabric is segmented into application, covering material type and country. Based on covering material type, the market is segmented into textiles, artificial leather, genuine leather and artificial suede. In 2019, the textiles segment h segment is expected to be the fastest growing segment over the forecast period. Based on application, the South America automotive fabric is divided into covering material and seating component. The covering material held the largest share in South America automotive fabric market over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the South America automotive fabric market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South American countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for automotive fabric.

Bader Gmbh and Co. KG, Borgstena Gruppen, Boxmark Leather, Grupo Copo, JBS Couros, Lear Corporation, Sage Automotive Interiors Inc., Seiren Co., Ltd, Suminoe Textile Co., Ltd., and TB Kawashima Co., Ltd. are some of the leading companies in the South America automotive fabric market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the South America Automotive Fabric market as follows:

• • Covering Material
  • Seating Component

• • Textiles
  • Artificial Leather
  • Genuine Leather
  • Artificial Suede

• • Brazil
  • Argentina
  • Rest of South America