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    Automotive Airbag Fabric Market Report

    Automotive Airbag Fabric Market Report
    Report code - SRTI105 Published On : Jul,2019 No. of Pages: 295
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    Automotive Airbag Fabric Market Size, Share, Trend, Forecast, & Competitive Analysis: See more...

    Impact of COVID-19 on Automotive Airbag Fabric Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Automotive Airbag Fabric Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    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.