The global automotive fabric market is expected to reach USD 43.3 billion by 2026, according to a new report by Reports and Data. Increased adoption of regulations governing fuel emissions in different countries is likely to stimulate market demand. Growing automotive industry mainly in Europe and Asia Pacific is also a key factor influencing market growth.
Increasing government focus to reduce car weights and thereby the fuel emissions is anticipated to create growth opportunities for the market. Thermoplastic materials have witnessed a significant adoption globally as they help in reducing the weight of the vehicle by almost 10 percent. Additionally, fuel emission target in various regions such as North America and Europe have led to an increase in the adoption of automotive fabrics. The EU’s 2020 target for fleet average CO2 emissions is 95g/km. The region aims at reducing CO2 emissions by 40 percent.
Asia Pacific is expected to be a key revenue generating region in the forecast period. The market is projected to grow at a CAGR of 4.5% in the forecast period. The region has witnessed a significant increase in the number of cars and commercial vehicles. While the number of vehicles in 2017 has increased by 3.19% in China, India has experienced a 5.83%. Similarly, the fleet size has increased by 5.31% in Japan and by 3.3% in Indonesia. Increase in availability of products is also projected to affect market demand. In September 2018, Asahi Kasei Corp, the Japanese supplier of fiber and textiles announced acquiring Sage Automotive Interiors, Inc., a key supplier of seat fabric and other automotive interior applications. The acquisition would help in expanding the product line offered by Asahi Kasei Corp.
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The key questions answered in the report:
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Increasing global production of passenger cars and light commercial vehicles
3.1.2. Decrease in fatalities associated with road accidents…
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented global automotive fabric on the basis of material, vehicle type, application and region:
Material Outlook (Revenue, USD Billion, 2018-2026)
Fabric
Suede
Nylon
Velvet
Velour
Tweed
Thermoplastic Material
Leather
Natural Leather
Synthetic Leather
Others
Vehicle Type Outlook (Revenue, USD Billion, 2018-2026)
Passenger Cars
Light Commercial Vehicles
Heavy trucks
Buses & Coaches
Application Outlook (Revenue, USD Million, 2015-2026)
Floor Covering
Upholstery
Pre-Assembled Interior Component
Tires
Safety Belts
Airbags
Regional Outlook (Revenue, USD Billion, 2018-2026)
North America
U.S.
Europe
Germany
UK
Asia Pacific
China
India
Latin America
Brazil
MEA
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