Automotive Airbag Yarn Market Report
Automotive Airbag Yarn Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024 See less
Automotive Airbag Yarn Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024
Automotive Airbag Yarn Market is Segmented by Vehicle Type (Compact Car, Midsize Car, Large Car, MPV and LCV, SUV, and Others), by Airbag Type (Driver Airbag, Passenger Airbag, Side Airbag, Knee Airbag, and Curtain Airbag), by Yarn Type (Polyamide and Polyester), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Automotive Airbag Yarn Market is Segmented by Vehicle Type (Compact Car, Midsize Car, Large Car, MPV and LCV, SUV, and Others), by Airbag Type (Driver Airbag, Passenger Airbag, Side Airbag, Knee Airbag, and Curtain Airbag), by Yarn Type (Polyamide and Polyester), and by Region...
The growth prospects of the automotive airbag yarns market seem promising with favorable opportunities in all four regions. All the major automakers are increasingly introducing more airbags per vehicle in order to make their vehicle safer for passengers as well as for meeting the stringent passenger safety standards of different countries. 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 are amongst the most common regulation.
Major players are strategically opting 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 M&A strategies to quickly gain the leading position in the market.
The automotive airbag yarn market is projected to reach an estimated value of US$ 1,361.1 million in 2024. Organic growth of automobile production, especially in Asia and Rest of the World; the introduction of more bags per vehicle; high focus on passenger safety; and the introduction of more stringent safety standards across the globe are the major drivers of the airbag yarns market in the automotive industry.
An airbag is the most important safety device in an automobile. There are different types of airbags installed in an automobile, such as driver airbags, passenger airbags, side airbags, curtain airbags, and knee airbags. The market for airbag has been growing at a higher pace than that of the automotive industry, due to increasing awareness towards passenger safety.
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The automotive airbag yarn market is segmented based on the vehicle type as Small Car, Mid-size Car, Large Car, MPV & LCV, SUV, and Others. Compact cars, SUVs, and MPVs & LCVs are expected to offer healthy growth opportunities for airbag yarns in the automotive industry in the coming years. Increasing demand for hatchbacks and SUVs in the 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 yarn type, the total automotive airbag yarns 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. Polyamide 6.6 yarn is mainly used in airbags with the little usage of polyamide 6 yarn. Polyester yarns are more preferred for making the side and curtain airbags and are rapidly gaining the share in the market. Another advantage, which polyester yarns bring to the table that has a significantly lower price than the polyamide yarns.
In terms of regions, North America and Asia-Pacific are the two largest markets for airbag yarns. North America’s airbag fitment rate is higher than that of Asia-Pacific and Europe. However, Asia-Pacific is expected to remain the dominant market for airbag yarns during the forecast period. Asia-Pacific is set to experience the highest growth in the coming years with most of the growth coming from developing economies including India and China. 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.
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Trend & Forecast Period
North America, Europe, Asia-Pacific, Rest of the World
Size in 2024
US$ 1,361.1 million
Figures & Tables
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The automotive airbag yarn market is segmented into the following categories.
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The supply chain of this market comprises raw material manufacturers, yarn manufacturers, fabric manufacturers, distributors, airbag manufacturers, auto OEMs, and dealers.
Some of the airbag manufacturers are-
whereas some of the major auto OEMs are-
The key airbag yarn suppliers for the automotive industry are-
New product development, capacity expansion, execution of merger & acquisitions, development of new optimized manufacturing process, collaboration with customers, and formation of the long-term contracts are the key strategies adopted by the key players to gain a competitive edge in the market.
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.
This report, from Stratview Research, studies the airbag yarn market in the automotive industry over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. The following are the key features of the report:
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The automotive airbag yarn market size is expected to reach US$ 1,361.1 million in the foreseeable future.
Some of the key airbag manufacturers are Autoliv Inc., ZF TRW Automotive Holdings Corp., Toyoda Gosei Co., Ltd, and Nihon Plast Co.
Asia-pacific is expected to remain dominant in the automotive airbag yarn market forecast period.
Polyamide yarn is expected to remain dominant in the automotive airbag yarn market during the next five years.
Compact cars, SUVs, and MPVs & LCVs are expected to offer healthy growth opportunities in the automotive airbag yarn market in the coming years.
Introduction of more bags per vehicle; high focus on passenger safety; and the introduction of more stringent safety standards across the globe are the factors driving the growth of automotive airbag yarn market.
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