Market Overview
The Automotive Airbag Fabric Market is expected to develop at a CAGR of 5.5% between 2024 and 2032. An increase in airbag installations, an increase in airbag concerns, and an increase in demand for electric vehicles are the primary main drivers driving market expansion.
The automobile industry is seeing the most potentially disruptive decade due to advancements in a variety of sectors, including autonomous driving, connected cars, alternative fuel vehicles, lightweight vehicles, and blockchain technology. The industry has prioritized passenger safety since several countries have strict government regulations requiring airbags, particularly in the driver and passenger compartments. These patterns suggest a growth in demand for airbag components. Because of the enormous increase in demand for airbags in automobiles, prominent airbag fabric makers have increased their capacity. Furthermore, the automotive airbag fabric industry is growing rapidly as more vehicles are sold, and more airbags are fitted in each one. Stronger safety rules, which protect both drivers and passengers, are causing the sector to grow. Furthermore, growing concerns regarding passenger safety are expected to boost market demand during the forecast period.
Market Segment insights
- Polyamide and polyester are the yarn types used to segment the Automotive Airbag Fabric Market.
- The market segmentation is based on coating type: neoprene coated, silicone coated, or uncoated.
- The Automotive Airbag Fabric Market is divided into vehicle types such as passenger cars, light commercial vehicles, heavy trucks, buses, and coaches.
- The market is classified into five types of airbags: front, side, knee, curtain, and other.
Regional insights
- The analysis covers market insights for North America, Europe, Asia-Pacific, and the rest of the world. In 2022, the North American Automotive Airbag Fabric Market dominated the market. Airbags and the materials required to create them will most likely be in demand in the coming years as auto manufacturing is expected to recover.
- In 2022, Europe’s automotive airbag fabric market held a sizable market share. This is due to increased vehicle manufacturing as well as higher rates of side, curtain, and knee airbag installation.
- The Asia Pacific Automotive Airbag Fabric market is predicted to develop significantly between 2023 and 2032. The key reasons impacting the region’s growth include the rapid expansion of light vehicle production in China and India, growing concern about passenger safety, and the establishment of safety criteria by the respective governments.
Major Players
Global Safety Textiles, HMT, New Technical Materials Co., Ltd., Asahi Kasei Co., Ltd., Autoliv AB, Takata Corporation, Teijin Limited, Toray Industries, Toyobo Co., Ltd., Kolon Industries, and Toyota Boshoku Corporation are among the key competitors in the Automotive Airbag Fabric market.