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The automotive market is expected to register a CAGR of 4. 9% from 2022 to 2030.
Pune, India, Nov 02, 2023 (GLOBE NEWSWIRE) – According to our new study on “Global Automotive Fabrics Market Forecast to 2030 – Impact of COVID-19 and Global Analysis – by Component, Material and Geography”, the market of fabrics for the automotive sector valued at $41. 51 billion in 2022 and is expected to reach $60. 72 billion by 2030; It is estimated to register a CAGR of 4. 9% from 2022 to 2030. The projected expansion of the market is attributed to the expansion of vehicle production and sales.
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Automotive Fabrics Market: Competitive Landscape
Lear Corp, Bader GmbH
Automotive Fabrics Market Report Scope, Segmentations, Regional and Country Scope:
Report Coverage
Details
Market Value at
$41. 51 billion in 2022
Market Size Value Per
$60. 72 billion through 2030
Growth Rate
CAGR of 4. 9% from 2022 to 2030
Forecast Period
2022-2030
Base year
2022
Number of pages
143
Number of tables
Sixty-five
Number of graphs and figures.
Sixty-five
Historical knowledge available
yes i do
Segments Covered
Component & Material
Regional Scope
North America; Europe ; Pacific; Latin America; MEA
Cross-country reach
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Oman, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Report Coverage
Revenue forecasts, company rankings, competitive landscape, growth drivers, and trends
In 2022, Asia-Pacific dominated the global automotive fabrics market. The market expansion in Asia-Pacific is driven by the strong presence of the automotive industry. Asia-Pacific is an automotive production hub with a strong presence of domestic and foreign players. operating in the region. According to a report released through the China Passenger Vehicle Association, Tesla Inc delivered 83,135 Chinese-made electric cars in 2022, indicating an expansion in EV sales compared to 2021. The International Organization of Motor Vehicles’ report on manufacturers claim that Asia-Pacific countries produced around 46. 73 million cars in 2021.
The Chinese government aims to increase the cumulative production capacity of the country’s automakers to 35 million units by 2025. According to the International Energy Agency’s 2022 report, China recorded electric vehicle sales of 3. 3 million in 2021. The floor of the vehicle is free of dirt, wear, and salt corrosion, which keeps the space white. Automotive cloths are used in the shipping spaces of SUVs, minivans, and sedans, offering a blank appearance and coverage for cargo. Some car cloth bureaucracies are designed to soundproof and noise relief in the vehicle. Hence, the developing automotive industry in Asia-Pacific is expected to create lucrative business opportunities for the region’s automotive fabrics market players during the forecast period.
There is an expansion in the details and interior quality of the cars.
The focus on improving the aesthetics and interior and exterior of cars has increased, as consumers focus on quality and aesthetics, which is driving the demand for automotive fabrics. Countries’ governments have imposed strict protection regulations, adding mandatory installation. and the use of seat belts, airbags, and anti-lock braking systems to promote protection on board vehicles, which is driving demand for safe, high-performance automotive textile materials.
Car fabric is widely used in car interiors for seats, door panels, and interior roofs. Fabric selection has a significant effect on interior design, providing a wide diversity of colors, textures, and patterns to suit the desired aesthetic. The fabric complements the overall appearance of a vehicle and creates a sumptuous appearance for passengers. Advancements in fabric generation have led to cutting-edge features such as stain resistance, air conditioning, and smart textiles, which can improve the aesthetics and capability of the interior of automobiles. They use express fabrics and colors to identify the identity and consistency of the logo across all their product lines, making the car immediately recognizable to consumers. Hence, the increasing focus on automotive detailing and interior quality is driving the expansion of the automotive fabrics market.
Automotive Fabrics Market: Segrained Overview
Based on components, the automotive fabrics market is segmented into carpets, headliner, hood lining, insulation, seat upholstery material, and others. In 2022, the carpet segment held the largest market share; It is expected to CAGR from 2022 to 2030. Car mats are well designed to keep the vehicle floor free of dirt, wear and salt corrosion, thus maintaining cleanliness. Woven or tufted fabric. Polyester, polyamide, polypropylene and aramid are preferably used as fibrous fabrics in carpet design to beautify automobile interiors.
Based on material, the automotive fabrics market is segmented into textiles, synthetic leather, real leather, and synthetic suede. The textiles segment held the largest share of the automotive fabrics market in 2022. Auto textiles have various programs on cars, trains, buses, and other vehicles. Automotive textiles come with other types of textile parts, such as fibers, filaments, and other fabrics. These textiles are an essential facet of technical textiles and are widely used in integrated parts to promote aesthetics and ensure some protection and textile fabrics are required for the pieces, such as seat coverings, interior ceilings, side panels, carpets, trunks, and airbags. In addition to interior design elements, these textiles are also ideal for reinforcing tires, hoses, and seat belts.
Key developments
In September 2023, Apex Mills acquired the facility from HanesBrands Inc. This acquisition contributed to the development of elastomer weaving, dyeing and finishing capabilities.
In March 2022, Lear Corp completed the acquisition of Thagora Technology SRL, a Roman company. This acquisition helped Lear Corp bring scalable production into its competencies.
In May 2021, JBS Couros SA introduced an antiviral leather with V-Block technology. The company is present in the furniture, automotive, footwear and leather goods markets.
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Impact of COVID-19 Pandemic on Automotive Fabrics Market
Before the COVID-19 pandemic, many countries were experiencing economic growth, while automotive fabric brands were investing in studies to expand cutting-edge technologies and improve production efficiency. The chemical and fabric industry reported a slowdown and stoppage in production operations. , as well as an expected collapse in sales of automotive fabrics. Thus, giant corporations involved in the production of automotive fabrics were severely affected during the initial phase of the pandemic due to sudden government restrictions on the manufacturing of non-essential products. In 2021, several automakers began to recover from losses incurred in 2020 with the resumption of production operations. Manufacturers were allowed to operate at full capacity, which helped them address the mismatch between supply and demand. With the resumption of economic activities, the call for automotive fabrics began to grow globally as the automobile industry resumed operations at full capacity.
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