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    Automotive Airbag Fabric Market Size, Share & Forecast (2019-2024)

    Automotive Airbag Fabric Market Size, Share & Forecast (2019-2024)
    Report code - SRTI105 Published On : Jul,2019 No. of Pages: 295

    Automotive Airbag Fabric Market Size, Share, Trend, Forecast, & Competitive Analysi See more...

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    Automotive Airbag Fabric Market Insights

    The automotive industry has been witnessing the most potentially disruptive decade with the advancements in several fronts including autonomous driving, connected vehicles, alternative fuel vehicles, lightweight vehicles, and blockchain. Passenger safety has been the focused area of the industry as several countries are implementing the stringent government regulations by mandating the airbags, especially in driver and passenger side.  These trends are imprinting an overall positive sign on the demand for airbag fabrics.

    Among all types of fabrics used in automobile, airbag fabrics represent the highest growth opportunities. Stratview Research estimates suggest that the next five years for the automotive airbag fabrics market are going to be vigorous with high-growth opportunities for the market participants. The market for airbag fabrics is estimated to reach an estimated US$ 2,311.5 million in 2024.  The demand for airbags is proportional to the demand for vehicles; hence, influencing the demand for airbag fabrics as well. Increasing production of automobiles fueled by rising disposable income, increasing installation of airbags per car, the introduction of more stringent safety standards, and demand for low-cost fabrics are driving the airbag fabrics market in the automotive industry.

    Automotive Airbag Fabric Market Forecast

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    A significant increase in the demand for airbags in vehicles has led to capacity expansions by major airbag fabric players. For instance, in 2018, Toray Industries opened an airbag nylon fiber and fabric manufacturing and distribution plant at its Mexican subsidiary: Toray Advanced Textile Mexico, S.A.de C.V. Similarly, in 2017, Hyosung Corporation (Global Safety Textiles) opened an airbag fabric manufacturing facility in Torreon, Mexico, which will make enough fabrics to manufacture 30 million units of airbags annually.

    The market is slowly heading towards a greater market consolidation as the industry recorded a fair number of acquisitions in recent years. In March 2019, UTT Beteiligungsgesellschaft GmbH, one of the leading manufacturers of airbag fabrics with manufacturing facilities in Germany and Mexico, was acquired by Indorama Ventures PCL, a leading chemical producing company. The acquisition strengthened the position of Indorama Ventures PCL as a global leader and integrated supplier of airbag yarns and fabrics.

    Automotive Airbag Fabric Market Share Analysis

    Automotive Airbag Fabric Market Share by Vehicle Type

    The market is segmented based on the vehicle type as Car, C/SUV, Pickup, Van, MPV, and Sports Car. C/SUV is expected to remain the largest airbag fabric market over the next five years. The vehicle type (C/SUV) is also likely to witness the highest growth during the same period, fueled by the trend of the shift from sedans and hatchbacks towards SUVs. Spacious interiors and comfortable and satisfying driving experience have generated a sheer interest for SUVs in the past few years.

    Automotive Airbag Fabric Market Share by Type of Airbags

    The market is segmented based on the airbag type as Driver Airbag, Passenger Airbag, Side Airbag, Curtain Airbag, and Others. Curtain airbag has been the largest consumer of airbag fabrics in the automotive industry. This airbag type is also likely to witness the highest growth during the forecast period. An increase in penetration of curtain airbags in vehicles coupled with the increasing share of SUVs in light vehicles production is leading to the higher growth of curtain airbags in the market. There have been developments in airbags, another factor stimulating the demand for it int the market. For instance, in June 2019, ZF Friedrichshafen AG, a leading vehicle safety technology company, developed the world’s first pre-crash occupant safety system with an external side airbag, which has a capacity between 280 and 400 liters (five to eight times the volume of a driver airbag).

    Automotive Airbag Fabric Market Share by Yarn Type

    Based on the yarn type, the market is segmented as Polyamide Yarn and Polyester Yarn. Polyamide 6.6 is the most widely used yarn for making airbag fabrics and is likely to remain the most dominant yarn type in the market. However, polyester yarn is expected to grow at a faster rate over the next five years, owing to its lower cost and increasing adoption in the knee and curtain airbags, mainly in the USA and Europe.

    Regional Insights

    In terms of region, Asia-Pacific has been the largest market for airbag fabrics, primarily propelled by China, Japan, South Korea, and India. China and India are the growth engines of the Asia-Pacific market due to a continuous increase in the demand for vehicles and the introduction of stringent safety standards.

    North America and Europe are also the major markets and are anticipated to generate considerable demand for airbag fabrics in the coming five years. The USA and Mexico are the major markets in North America, whereas Germany, France, the UK, and Russia are the major markets in Europe. The fitment rate of airbags in Europe is higher than in North America and Asia-Pacific.

    Key Players

    Indorama Ventures Public Company Limited, Global Safety Textiles (Hyosung), Toyobo Co., Ltd., Toray Industries, Inc., Kolon Industries, HMT (Xiamen) New Technical Materials Co. Ltd., Elevate Textiles Inc., and Milliken & Company are the well-known airbag fabric manufacturers for the automotive industry. New product development, advancement in automotive airbag safety features, execution of mergers and acquisitions, and collaboration with OEMs are the key strategies adopted by the major players to gain a competitive edge in the market.

    Automotive Airbag Fabric Market Share

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2013-2024

    Size in 2024

    US$ 2,311.5 million

    Forecast

    4.9% CAGR during 2019-2024

    Regions Covered

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

    Countries/Subregions Covered

    USA, Canada, Mexico, Germany, France, The UK, Italy, Russia, Japan, China, South Korea, India, Brazil, Argentina and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

    The market is segmented in the following ways:

    Automotive Airbag Fabric Market Size, Share & Forecast by Vehicle Type:

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

    Automotive Airbag Fabric Market Size, Share & Forecast by Airbag Type:

    • Driver Airbag
    • Passenger Airbag
    • Side Airbag
    • Curtain Airbag
    • Other Airbags

    Automotive Airbag Fabric Market Size, Share & Forecast by Fabric Type:

    • OPW (one-piece woven) Airbag Fabric
    • Flat Airbag Fabric

    Automotive Airbag Fabric Market Size, Share & Forecast by Coating Type:

    • Coated Airbag Fabric
    • Uncoated Airbag Fabric

    Automotive Airbag Fabric Market Size, Share & Forecast by Yarn Type:

    • Polyamide Airbag Fabric
    • Polyester Airbag Fabric

    Automotive Airbag Fabric Market Size, Share & Forecast by Region:

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

    Report Features

    This report, from Stratview Research, studies the automotive airbag fabric market over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024 in terms of both value and square meters. After conducting a series of comprehensive reports on airbag yarns, airbag inflators, and tire yarn, we have further expanded our portfolio with first of its kind study on the airbag fabric market in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.

    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, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     


    Frequently Asked Questions (FAQs)

    What is airbag fabric?

    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 upon 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.

    What will be the size of the Automotive Airbag Fabric Market in the foreseeable years?

    Driven by a number of factors like increasing installation of airbags per car, the automotive airbag fabric market size is projected to reach an estimated value of US$ 2,311.5 million in 2024.

    Which country/region is expected to remain the largest Automotive Airbag Fabric Market?

    In terms of region, Asia-Pacific is expected to remain the largest Automotive Airbag fabric Market.

    Which type of airbag is expected to remain dominant?

    Curtain airbag is expected to remain the most dominant airbag type.

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