The automotive fabrics market is anticipated to thrive at an average CAGR of 3.6% between 2023 and 2033. The market is expected to have a market share of US$ 52.78 billion by 2033 while it is likely to be valued at US$ 37.06 billion in 2023.
The rising businesses producing upholstery for automobiles, the increased scope of technical textiles, and the application of different materials and their grades are likely to transform the market during the forecast period. Furthermore, the high sales of premium vehicles and high third-party sales and installation also garner the markets success.
Companies launching new trending designs with vibrant colors and packaging along with multi-layer designs for extra comfort are also in high demand. Alongside this, the price point, comfort, design, texture, and material are some factors that make all the difference.
From bike seat cover to car seat fabric and other fabrics, the products are focused on texture and color. New car businesses and local shop vendors are also promoting new brands with smart and small details that are expected to increase market sales.
The advanced knitting technology, computerized designs, curves, and model-based product delivery is also enriching the supply chain management and pushing product performance in the marketing funnel as well.
Different types of material grades and prices go hand in hand while selecting the pricing and representation of the product. The restoration of the automotive market is the first milestone that the market has crossed lately.
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Key Takeaways
1. The United States market leads North Americas automotive fabrics market in terms of market share in North America. The United States held a market share of 14.8% in 2022. Factors attributed to the new products and designs, high sales of cars and other vehicles, the advent of electric vehicles, and new businesses launching innovative ideas like sustainable seat covers, etc.
2. Germanys automotive fabrics market held a healthy market share of 9.7% in 2022. The market growth is caused by Germany being the center point for automotive manufacturing including premium car-making brands like Volkswagen, BMW, Audi etc.
3. Indias market thrives at an average CAGR of 4.5% between 2023 and 2033. The growth is attributed to the increased per capita income, and growing third-party fabric installation businesses.
4. China thrives at a CAGR of 4.2% between 2023 and 2033.
5. Based on product type, the woven fabric segment held the leading market share of 43.0% in 2022.
6. Based on sales channel, the OEM segment leads as it held a market share of 82.0% in 2022
Competitive Landscape
The key suppliers focus on affordable, premium quality, texture, and material. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
Sage Automotive Interiors, an Ashi Kasei Company has acquired Adients fabric business for US$ 175 million. The decision is anticipated to affect the sales of the majority part of the world.
Adler Pelzer has announced to further strengthen their collaboration with Hyashi Telemp Corporation. The collaboration is expected to be focusing on OEM, autonomous driving, and enhanced automotive textiles.
Key Players Profiled in the Global Market
- HHenkel AG Co. KGaA
- Namics Corporation
- ASE Group
- MacDermid Alpha Electronic Solutions
- Parker LORD Corporation
- H.B. Fuller Company
- Dow Inc.
- ELANTAS GmbH
- Zymet
- Hitachi Chemical Co., Ltd.
- Panasonic Corporation
- AI Technology, Inc
- Indium Corporation
- Sanyu Rec Co., Ltd.
- Dymax Corporation
- Epoxy Technology, Inc.
- Protavic International
- YINCAE Advanced Materials, LLC
Key Segments Covered
By Product Type:
- Woven Fabric
- Non woven Fabric
- Knitted Fabric
By Sales Channel:
- OEM
- Aftermarket
By Application:
- Airbags
- Floor Covering
- Belts Hoses
- Tires
- Car Roof
- Safety-Belts
- Pre-Assembled Interior Component (PRIC)
- Upholstery
- Others
By Vehicle Type:
- Compact Passenger Cars
- Mid-Sized Passenger Cars
- Premium Passenger Cars
- Luxury Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
