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    Automotive Airbag Fabric Market Report

    Automotive Airbag Fabric Market Report
    Report code - SRTI105 Published On : Jun,2023 No. of Pages: 164
    Automotive Airbag Fabric Market Size, Share, Trend, Forecast, Competitive Analysis, and Gr See more...

    Market Insights

    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.

    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.

    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. Overall, the 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.

    Recent Product Developments: Lightweight, low cost, and eco-friendliness are the indispensable focus areas of the leading players while airbag fabric developments. Recently, in January 2023, Toray Industries, Inc. developed recycled nylon 6,6 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 eons. 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

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Vehicle-Type Analysis

    Car, C/SUV, Pickup, Van, MPV, and Sports Car

    C/SUV is anticipated to remain the biggest demand generator for airbag fabrics in the years to come.

    Airbag-Type Analysis

    Driver Airbag, Passenger Airbag, Side Airbag, Knee Airbag, and Curtain Airbag

    Curtain airbag is expected to be the dominant as well as the fastest-growing airbag type in the coming years.

    Fabric-Type Analysis

    Flat Fabric and OPW Fabric

    Over the next five years, OPW fabric will remain the dominant and fastest-growing fabric type.

    Coating-Type Analysis

    Coated Fabric and Uncoated Fabric

    Coated fabric is expected to remain dominant, whereas uncoated fabric is estimated to be faster growth during the forecast period.

    Yarn-Type Analysis

    Polyamide Fabric and Polyester Fabric

    Polyamide is expected to remain the dominant yarn, whereas polyester is estimated to be the faster-growing yarn type during the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and The Rest of the World

    Asia-Pacific is expected to remain the largest market over the next five years.

     
    Based on the vehicle type, the automotive airbag fabric market is segmented into Cars, C/SUVs, Pickups, Vans, MPVs, and Sports cars. C/SUV is expected to remain the market's largest and fastest-growing vehicle type in the automotive airbag fabric market owing to increasing demand for SUVs in major Asian countries, such as China and India, and highly congested cities of the developed economies. Rising customer preference for SUVs for their several attractive features, such as spacious interiors, higher ground clearance, and a smooth & comfortable driving experience, is triggering the demand for SUVs and so on airbag fabrics. Also, the fitment rates of airbag fabrics are higher in SUVs compared to standard cars.

    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 high than that of developing nations like China and India. 

    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 faster-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 that flat fabric. OPW airbag fabrics are highly preferred in curtain airbags.

    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-resisting, dimension stability, increased flexibility, and low cost.

    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 log 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.

    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.

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

    Automotive Airbag Fabric Market, by Vehicle Type

    • Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • C/SUV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pickup (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Van (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • MPV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Sports Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Airbag Fabric Market, by Airbag Type

    • Driver Airbag (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Passenger Airbag (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Side Airbag (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Knee Airbag (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Curtain Airbag (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Airbag Fabric Market, by Fabric Type

    • Flat Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • OPW Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Airbag Fabric Market, by Coating Type

    • Coated Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Uncoated Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Airbag Fabric Market, by Yarn Type

    • Polyamide Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyester Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Airbag Fabric Market, 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)

    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

    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.

    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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for existing and new players.
    • Key success factors.

    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

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Automotive Airbag Fabric is mainly tough material that is durable enough and has the capability to retain its quality even after rapid inflation and impacts. Normally, nylon is the most commonly used material for an automotive airbag, but now new options are coming up to offer even better results. Automotive Airbag Fabric is chosen depending on the type of airbag and the position of the airbags in the vehicle. The demand for automotive options especially SUVs with durable and reliable automotive airbag fabric is continuously increasing due to the increasing number of accidents taking place on the road.

    The automotive airbag fabric market is estimated to grow at a CAGR of 5.3% by 2028, driven by rebound vehicle production, the introduction of a number of airbags per vehicle, and the implementation of stringent safety-related rules across the globe.

    Toray Industries, Inc., Hyosung Corporation, Kolon Industries, Inc., HMT (Xiamen) New Technical Materials Co., Ltd., and Indorama Ventures are the leading players in the market.

    Asia-Pacific is estimated to remain dominant in the automotive airbag fabric market in the foreseeable future. The key economies driving the regions demand for automotive airbag fabric are China, India, Japan, and South Korea. The presence of various automotive OEMs and their manufacturing facilities in the region is driving the regions growth.

    Polyamide yarn is expected to remain dominant in the automotive airbag yarn market over the next five years. Polyamide has superior properties to polyester yarns: good elasticity, fatigue resistance, energy absorption, high-tensile strength and wear resistance, high tenacity, a small friction coefficient, and a relative density.

    Curtain airbag is estimated to remain dominant in the automotive airbag fabric market in the coming years owing to their ability to provide enhanced occupant protection, mitigate secondary injuries, comply with safety regulations, and have technological advancements that have improved their effectiveness.

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