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Research Details Developments in Automotive Fabrics Market


Post Date: 08 Feb 2017    Viewed: 158

The automotive fabrics market is projected to reach USD 34.35 Billion by 2021, registering a CAGR of 3.3% between 2016 and 2021. Automotive fabrics are woven, non-woven, knitted, coated, or composite fabrics that are soft, flexible, elastic, lightweight, and durable.

"Floor covering is the largest application segment for automotive fabrics"

Floor covering accounts for the largest share of the global automotive fabrics market and is projected to grow at a CAGR of 3.4% between 2016 and 2021, in terms of value. The floor covering segment is projected to drive the automotive fabrics market between 2016 and 2021 due to the increasing usage of carpets in automobiles.

Automotive fabrics are used in carpets because they have noise and vibration absorption properties.

"Automotive fabrics market is expected to witness significant growth in the passenger cars segment"

Automotive fabrics market is expected to witness significant growth in the passenger cars segment between 2016 and 2021. This is owing to the rising demand of passenger cars in countries such as China, India, Japan, the U.S., Canada, Mexico, South Korea, Spain, France, Indonesia, the U.K., Brazil, and Russia, among others.

The increasing demand for passenger cars can also be attributed to the rising middle class income in countries such as China, India, and Brazil, which in turn is expected to boost the demand for automotive fabrics in the passenger cars segment.

"Asia-Pacific is the largest market for automotive fabrics"

Asia-Pacific dominated the global automotive fabrics market in 2015. Population growth and rapid urbanization in key countries, such as China and India, accompanied by the rising demand for automobiles contribute towards the growth of automotive fabrics market in this region.

In addition, major companies such as Takata Corporation (Japan) and Haartz Corporation (U.S.) are expanding their automotive fabrics business in the region which drives the demand for automotive fabrics in the region.

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).


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