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According to The Business Research Company’s Automotive Fabric, The automotive fabric market size has grown steadily in recent years. It will grow from <b>$35.74 billion in 2023 to $37.48 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. </b> The growth in the historic period can be attributed to interior aesthetics, increased vehicle production, consumer demand for comfort, safety and regulations, customization options.
More On The Automotive Fabric Market:
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The automotive fabric market size is expected to see strong growth in the next few years. It will grow to <b>$46.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. </b> The growth in the forecast period can be attributed to electrification of vehicles, connectivity features, minimalistic interior design, sustainability initiatives, advanced safety features, interior ambient lighting. Major trends in the forecast period include smart fabrics., sustainable and recyclable materials, antimicrobial fabrics, textured and patterned fabrics, haptic feedback fabrics, vegan and cruelty-free materials.An increase in automobile demand is expected to propel the automotive fabric market going forward. Economies worldwide have been steadily increasing, which has increased the standard of living, further increasing the purchasing power. The advent of the COVID-19 pandemic also resulted in individuals preferring a safer mode of transportation that promoted social distancing and thus boosted the growth of automobiles. The increasing demand for automobiles will increase the demand for automobile fabrics as they offer passengers the maximum comfort, safety, and security during the drive. For instance, according to a report from OICA (International Organization of Motor Vehicle Manufacturers), global passenger car sales increased from 53 million in 2020 to 56 million in 2021. Similarly, commercial vehicle sales increased from 24 million in 2020 to 26 million in 2021. Therefore, the increased demand for passenger and commercial vehicles drives the growth of the automotive fabric market.
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The automotive fabric market covered in this report is segmented –
1) By Fabric Type: Polyester, Vinyl, Leather, Nylon, Other Fabric Types
2) By Vechile Type: Passenger Vehicles, Commercial Vehicles
3) By Application: Carpets or Floor Covering, Upholstery, Pre-Assembled Interior Components, Tires, Safety-Belts, Airbags, Other ApplicationsThe emergence of recycled fabrics has emerged as a key trend gaining popularity in the automotive fabric market. The recycled fabrics are made from waste material, reprocessed into new fibers and spun into fabric material. The growing environmental concerns about the negative impact of waste incineration, heavy industrial discharges from textile mills, and raw material depletion have transformed the market towards sustainable materials. For instance, in October 2022, Lear Corp., an American company that manufactures automotive seating and automotive electrical systems, unveiled ReNewKnit, a premium and fully recyclable warp knitted fabric with improved functionality. ReNewKnit is a Lear exclusive, first-to-market automotive textile that is fully recyclable at the end of its life. The automotive fabric market report table of contents includes:
1. Executive Summary
2. Automotive Fabric Market Characteristics
3. Automotive Fabric Market Trends And Strategies
4. Automotive Fabric Market – Macro Economic Scenario
5. Global Automotive Fabric Market Size and Growth
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26. South America Automotive Fabric Market
27. Brazil Automotive Fabric Market
28. Middle East Automotive Fabric Market
29. Africa Automotive Fabric Market
30. Automotive Fabric Market Competitive Landscape And Company Profiles
Top Major Players:
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