According to the new research report published by The Insight Partners, titled “Automotive Fabric Market Forecast to 2027”, was valued at US$ 32,665 million in 2019 and is projected to reach US$ 41,491 million by 2027; it is expected to grow at a CAGR of 4.7% from 2020 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.
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INNOVATIVE TECHNOLOGICAL DEVELOPMENT IN AUTOMOTIVE FABRICS INDUSTRY TO BOOST ITS DEMAND IN THE GLOBAL MARKET
Automotive fabrics are such type of fabrics which are available in the form of woven or nonwoven, coated, or composite type. Such type of fabric materials is quite flexible and possesses features such as resistance towards UV rays and cold cracking along with durability and lightweight in design. Automotive fabrics aims to provide seating comfort as well as promotes the overall aesthetic appearance and experience. The materials in preparation of such fabrics plays significant role in promoting car efficiency along with ensuring safety and adding to overall quality of the vehicle.
Impact of COVID-19 Pandemic on Automotive Fabric Market
Coronavirus pandemic first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. As of April 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst-affected countries in terms of confirmed cases and reported deaths. The coronavirus pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic.
Some of the companies competing in Market are
- Aunde Group SE
- Bader Gmbh And Co. KG
- Borgstena Gruppen
- Boxmark Leather
- Classic Soft Trim
- CMI Enterprises
- DK Leather Corporation Berhad
- Grupo Copo
- JBS Couros
- Kyowa Leather Cloth
- Lear Corporation
- Martur
- Moriden America, INC.
- Sage Automotive Interiors INC.
- Scottish Leather
- Seiren Co., Ltd
- Shawmut Corporation
- Suminoe Textile Co., LTD
- TB Kawashima CO., LTD
- Vulcaflex S.P.A.
Product innovations along with the technological advancements in automotive fabrics industry is providing lucrative opportunities for the market growth. For instance, the latest innovation associated with the creative mix of seatbelts and airbags is prepared with round and smooth edges to offer better comfort and experience to the wearer. Such feature is aimed to reduce the extent of damage, as it helps distribute the force equally across the passenger’s body. This technique incorporates the use of special type of micro-fibre with ultra-light, flame proof, and abrasion resistant features for interior of the car. Additionally, this micro-fibre is counted as 100% environment-friendly material. Thus, the incorporation of such advanced features in the product is expected to promote the demand for advanced automotive fabrics in global market.
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