Automotive Airbag Fabric Market Report

Market Insights

"The global automotive airbag fabric market is likely to experience a promising CAGR of 5.3% in the long run, to reach US$ 3.3 billion in 2028."

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Airbag fabric refers to the specialized material used in the construction of airbags. The fabric is engineered to withstand the high forces and rapid inflation associated with airbag deployment. It is made from polyamide or polyester fibers, which are woven to create a strong and flexible textile.

Market Dynamics

Market Drivers

An increase in light vehicle production, especially in China and India, growing awareness about vehicle safety, and increasing safety standards/regulations regarding the deployment of airbags in automobiles are the major drivers of the airbag fabric market.

COVID-19 Impact

The COVID-19 pandemic impacted the automotive industry to the core, compelling industry participants to restructure their strategies and prioritize survival. The automotive airbag fabric market could not escape and witnessed a decline of 11.7% in 2020. In 2021, the market experienced an impressive growth rate owing to the recovery in automobile production, especially in China.

Recent Product Developments

Lightweight, low cost, and eco-friendliness are the indispensable focus areas of the leading players in airbag fabric developments. Recently, in January 2023, Toray Industries, Inc. developed recycled nylon 6, recovered from silicone-coated airbag fabric scrap cuttings, “Ecouse AMILAN™”, which is an environmentally friendly product.

Recent Market JVs and Acquisitions

Inorganic growth remains one of the most preferred strategies for market stakeholders over the years. Major players have acquired a series of companies over the years to better position themselves in the market. For instance, in 2019, Indorama Ventures Public Company Limited (IVL) completed the acquisition of UTT Technische Textilien GmbH & Co. KG. The acquisition enhances IVL’s position as one of the leading and most integrated suppliers of airbag yarns and textiles.

Segments' Analysis

Vehicle Trends

"C/SUV segment accounted for the largest market share."

Airbag Trends

"The curtain airbag segment accounted for the largest market share."

Based on the airbag type, the market is segmented into driver airbags, passenger airbags, side airbags, knee airbags, and curtain airbags. Curtain airbag is expected to remain the dominant and fastest-growing airbag type in the market during the forecast period. Curtain airbags are highly effective in saving occupants from side-impact crashes. They are increasingly being used in developing nations, where frontal airbags already have an excellent penetration level in the automobile fleet. The penetration of curtain airbags in developed nations is significantly higher than that of developing nations like China and India. 

Fabric Trends

"OPW fabric segment accounted for the largest market share."

Based on the fabric type, the market is segmented into flat fabric and OPW fabric. OPW fabric is expected to remain the dominant as well as the fastest-growing fabric type in the market during the forecast period. OPW airbag fabrics have high elongation and tensile strength as compared to flat fabric, but they possess comparatively less hardness than flat fabric. OPW airbag fabrics are highly preferred in curtain airbags.

Coating Trends

"Coated fabric segment accounted for the largest market share."

In terms of coating type, the market is segmented into coated fabric and uncoated fabric. Coated fabric is expected to remain the biggest demand generator in the market during the forecast period. It offers superior properties over uncoated fabric. Silicone elastomer is majorly used as the coating material, as opposed to neoprene, which was previously used for the same purpose. Uncoated fabrics are to register higher growth in the coming years owing to their good tensile strength, high modulus, low shrinkage, excellent creep resistance, dimension stability, increased flexibility, and low cost.

Yarn Trends

"Polyamide fabric segment accounted for the largest market share."

In terms of yarn type, the market is segmented into polyamide fabric and polyester fabric. Polyamide fabric is anticipated to remain the dominant yarn type in the market during the forecast period. Polyamide 6.6 yarn is the most preferred yarn type in the market owing to its properties, such as elasticity, fatigue resistance, energy absorption, high-tensile strength and wear resistance, high tenacity, small-friction coefficient, and relative density as compared to polyester. Polyester yarn is anticipated to have a higher growth rate in the market owing to an increase in the penetration of side and curtain airbags in vehicles. Another advantage that polyester yarns bring to the table is that they have a significantly lower price than polyamide yarns.

Regional Insights

"Asia-Pacific accounted for the largest market share."

In terms of region, Asia-Pacific is expected to remain the largest market for automotive airbag fabrics during the forecast period.  The rapid expansion of light vehicle production in China and India, the growing awareness of passenger safety, and the introduction of safety standards by the respective governments are the major factors driving the growth of the region. However, the Rest of the World is expected to grow at the fastest rate owing to upcoming assembly plants and the increasing penetration of airbags per car.

North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by vehicle production growth coupled with the fitment rates of side, curtain, and knee airbags. The expected rebound in automobile production is likely to create demand for airbags along with their fabrics in the coming years.

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Key Players

The market is moderately concentrated, with the presence of some regional and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the automotive airbag fabric market.

• Toray Industries, Inc.
• Hyosung Corporation.
• Kolon Industries, Inc.
• HMT (Xiamen) New Technical Materials Co., Ltd.
• Indorama Ventures

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

The automotive airbag fabric market is segmented into the following categories:

By Vehicle Type

• Car
• C/SUV
• Pickup
• Van
• MPV
• Sports Car

By Airbag Type

• Driver Airbag
• Passenger Airbag
• Side Airbag
• Knee Airbag
• Curtain Airbag

By Fabric Type

• Flat Fabric
• OPW Fabric

By Coating Type

• Coated Fabric
• Uncoated Fabric

By Yarn Type

• Polyamide Fabric
• Polyester Fabric

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, South Korea, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive airbag fabric market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than eight detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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