Market Insights
Airbag yarns refer to the specialized yarn used in the manufacturing of airbags. There are majorly two types of yarns: polyamide and polyester. Airbag yarn needs to be strong and resistant to tearing to withstand the force of the airbag inflating rapidly. Production and development of yarn require specialized knowledge and are subject to stringent safety regulations and quality control standards to ensure the reliability and effectiveness of airbags in protecting vehicle occupants during accidents.
The automotive airbag yarn market witnessed a colossal decline (-12.4% in 2020) amid the pandemic, slightly low than that of the decline in automobile production. In 2021, the market experienced an impressive growth rate owing to the recovery in automobile production, especially in China.
Increasing numbers of road accidents are compelling the governments of many countries to introduce more stringent passenger safety regulations, in which making airbags compulsory in all types of vehicles is the most common. Major players are strategically opting for both organic as well as inorganic growth routes in order to capture the maximum growth potential. Some players have recently announced to expand their existing production capacities of airbag yarns to meet the shooting demand, whereas some players are opting for M&A strategies to quickly gain a leading position in the market. Overall, the automotive airbag yarn market is expected to grow at a healthy CAGR of 5.0% over the next five years to reach an annual market size of US$ 1.5 billion in 2028.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Vehicle-Type Analysis
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Car, C/SUV, Pickup, Van, MPV, and Sports Car
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C/SUV is anticipated to remain the biggest demand generator for airbag yarns in the years to come.
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Airbag-Type Analysis
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Driver Airbag, Passenger Airbag, Side Airbag, Knee Airbag, Knee Airbag, and Curtain Airbag
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Curtain airbags are expected to be the dominant as well as the fastest-growing airbag type in the coming years.
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Yarn-Type Analysis
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Polyamide Yarn and Polyester Yarn
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Polyamide is expected to remain the dominant yarn, whereas polyester is estimated to be the faster-growing yarn type during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific is expected to remain the largest market over the next five years, whereas RoW is likely to grow at the fastest rate.
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Based on the vehicle type, the automotive airbag yarn market is segmented into cars, C/SUVs, pickups, vans, MPV, and sports cars. C/SUV is expected to remain the market's largest and fastest-growing vehicle type category during the forecast period. Increasing demand for SUVs in major Asian countries, such as China and India, and highly congested cities of the developed economies are the major drivers of the demand for yarns for airbags in these vehicle types. The introduction of more stringent passenger safety standards further elevates the demand for airbag yarns in these vehicle types.
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 as well as the faster-growing airbag type in the market during the forecast period. Curtain airbags are increasingly being used in developing nations where frontal airbags already have an excellent penetration level in the automobile fleet.
Based on the yarn type, the market is segmented into polyamide yarns and polyester yarns. Polyamide is likely to remain the most dominant yarn type in the automotive airbag yarn market during the forecast period. Mainly polyamide 6.6 yarn is used in airbags, with little usage of polyamide 6 yarn. Polyester yarns are preferred for making side and curtain airbags and are rapidly gaining a share in the market. Another advantage that polyester yarns bring to the table is that has a significantly lower price than polyamide yarns.
In terms of regions, Asia-Pacific is expected to remain the largest market for automotive airbag yarn during the forecast period. This region has a presence of a large number of major OEMs, such as Toyota and Hyundai, which make the region a growth engine for the automotive industry. Most of the major airbag yarn producers are forming strategic alliances with Asian companies to set up a plant in Asia, mainly in China, to tap the market potential.
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 automotive airbag yarn market is segmented into the following categories:
Automotive Airbag Yarn 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 Yarn 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 Yarn Market, by Yarn Type
- Polyamide Yarn (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polyester Yarn (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Automotive Airbag Yarn 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: China, Japan, 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 yarn market.
- Invista
- Toray Industries, Inc.
- Indorama Ventures
- Asahi Kasei Corporation
- Toyobo Co., Ltd.
- Hyosung Corporation
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive airbag yarn 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 the market dynamics and will enable strategic decision-making for the 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.
Report 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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