The global automotive fabric market was valued at US$ 32,665.34 million in 2019 and is projected to reach US$ 45,186.05 million by 2027; it is expected to grow at a CAGR of 4.4% from 2020 to 2027.
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 growth of the market is strongly driven by advancements in technology, along with preference toward superior comfort and high-quality materials. Moreover, rapid urbanization, economic growth, and surge in demand for automobiles accessories are expected to boost the demand for automotive fabrics.
Based on application, the automotive fabric market is segmented into covering material and seating component. The covering material segment led the automotive fabric market with the largest market share in 2019. The interior of vehicle is an attractive part, which significantly promotes the value of the car. The focus on interior material of a vehicle, along with in-vehicle textile and fabrics, is expected to increase with the shift in consumer preference and rise in attention toward safety, quality, and aesthetic properties. Apart from providing aesthetic appeal, these materials ensure safety and boost the overall performance and look of a vehicle. The different types of car covering materials are nylon, polyester, vinyl leather, and faux leather, among others.
In terms of region, the automotive fabric market is segmented into North America, Europe, Asia Pacific (APAC), South America, and Middle East & Africa (MEA). In 2019, Asia Pacific held the largest share of the market. It is also estimated to register the fastest CAGR in the market over the forecast period. The demand for automotive fabric is expected to increase in the region due to various factors such as increase in spending capacity of the consumers, better living standards and growth in industrialization. Also, growth in the automotive industry, owing to the rise in the demand for automobiles, is likely to drive the market in the region. Increase in demand for better automobile aesthetic and interiors also favors the growth of the automotive fabric market in the region. Besides these, significant advancements in technology are further expected to promote the growth of automotive fabric market in Asia Pacific.
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the worst affected countries in terms of confirmed cases and reported deaths. The outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is one of the major industries facing serious disruptions such as office and factory shutdown and supply chain breaks as a result of this outbreak.
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 major players operating in the global automotive fabric market.
The overall global automotive fabric market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the global automotive fabric market.