NEW YORK, Jan. 16, 2017 /PRNewswire/ -- "Increasing demand for passenger cars to drive the automotive fabrics market"
The market size of automotive fabrics is estimated to be USD 29.18 billion in 2016 and is projected to reach USD 34.35 billion by 2021, registering a CAGR of 3.3% between 2016 and 2021. The market is largely driven by the increased demand for passenger cars in countries such as China, Japan, Germany, the U.S., South Korea, India, Spain, Brazil, Mexico, the U.K., France, and Russia, among others. Rising safety measures in automotive application are also expected to drive the market. The availability of non-fabric substitutes such as natural leather, synthetic leather, artificial leather, and PVC leather is restraining the growth of the market.
"Airbag is the fastest-growing application for automotive fabrics"
The stringent safety regulations in countries such as the U.S., Canada, China, Japan, and India drive the demand for automotive fabrics in the airbag application. Growing public awareness and increase in concerns for safety regarding the usage of airbags drives the demand for automotive fabrics in airbags application.
"Asia-Pacific to dominate the market during the forecast period"
The rising demand for automobiles is driving the market for automotive fabrics in Asia-Pacific. The market in this region is driven by the increased demand from China, Japan, South Korea, and India. China is the largest market in the region. The demand for passenger cars, light commercial vehicles, and heavy trucks is gaining momentum in this region, which in turn will drive the demand for automotive fabrics.
In the process of determining and verifying the market size for the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (31%), Tier 2 (46%), and Tier 3 (23%)
- By Designation: C-level (46%), Director Level (27%), and others (27%)
- By Region: Asia-Pacific (60%), North America (25%), Europe (10%), South America (4%), and Middle East & Africa (1%)
Various key players profiled in the report include Adient plc (Ireland), Lear Corporation (U.S.), Toyota Boshoku Corporation (Japan), Seiren Co., Ltd. (Japan), Suminoe Textile Co., Ltd. (Japan), SRF Limited (India), Sage Automotive Interiors Inc. (U.S.), Takata Corporation (Japan), Grupo Antolin Irausa, S.A. (Spain), Acme Mills Company (U.S.), Martur Automotive Seating Systems (Turkey), Glen Raven Inc. (U.S.), Haartz Corporation (U.S.), and Tenowo GmbH (Germany).
This report covers the market, by value and by volume, for automotive fabrics and forecasts the market size until 2021. The report includes the market segmentation based on vehicle type, application, and region. It also provides company profiles and competitive strategies adopted by the major players in the global automotive fabrics market. The report also covers value chain analysis, Porter's five forces analysis, market overview and insights on various drivers, restraints, and opportunities for the automotive fabrics market.
Reasons to buy this report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on automotive fabrics offered by the top players in the global automotive fabrics market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the automotive fabrics market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for automotive fabrics across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global automotive fabrics market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the automotive fabrics market
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