24.08.23 – Future Market Insights
Automotive fabrics market on the rise
The automotive fabrics market is expected to reach US$ 53 b by 2033, with a projected CAGR of 3.6% between 2023 and 2033. The market is forecasted to be valued at US$ 52.78 b by 2033, up from US$ 37.06 b in 2023.
Automotive fabrics are used in applications like upholstery, airbags, belts, and more, enhancing both aesthetics and safety features of vehicles. Increasing sales drive demand across manufacturers, aided by safety regulations by regional goverments. The global automotive fabrics market is expected to grow due to the demand for soundproofing, insulation, cushioning, and aesthetics.
Automotive fabric market
Growing fabric demand leads to increased utilization of materials like rayon, nylon, aramid, and polyethylene terephthalate for reinforcement, further boosting the market. Safety regulations by developing nations are expected to offer growth prospects for key players in the automotive fabrics market from 2023 to 2033. Notably, two trends contribute to sales: advanced airbag fabrics and high demand for non-woven fabrics. Rising utilization in airbags, driven by safety regulations and demand for advanced automotive safety equipment, contributes to market growth. Moreover, the adoption of eco-friendly fabric materials like polyster, especially in non-woven fabrics for vehicle carpets and floor coverings, augments growth.
Driving trends
Sales of automotive vinyl fabric are being driven by the growing demand for luxury vehicles in the United States. Sales of automobile upholstery fabric are fueled by India`s thriving automotive sector, which is further supported by the goverment`s support for production and safety requirements. The country is said to strive at a CAGR of 4.5% between 2023 and 2033. Leading manufacturers like Mercedes Benz and Faurecia innovate in production and design to prepare for the growing adaptability and modularity of vehicle seating. For instance, in August 2022, Mercedes Benz teased the interio of its upcoming “EQE” SUV. The all-electric SUV`s cabin is set to come with a blend of cool and warm color tones. The SUV is also going to include a mix of modern and conventional materials such as fine metal, anthracite, aluminium, and trims of wood. At the same time, it might have dual tone leather upholstery and a multifunctional steering wheel.
In June 2023, Faurecia introduced automotive seating with a new approach to design and manufacturing. The new seating design is expected to increase the adaptivity and modular architecture.