Market Insights

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.

Segments' Analysis

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Automotive Airbag Yarns Market Share by Vehicle Type

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. 

Automotive Airbag Yarns Market Share by Yarn Type

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.

Regional Insights

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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Market Scope & Segmentation

The automotive airbag yarn market is segmented into the following categories.

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

• Compact Car
• Mid-Size Car
• Large Car
• MPV & LCV
• SUV
• Others

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

• Driver Airbag
• Passenger Airbag
• Side Airbag
• Knee Airbag
• Curtain Airbag

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

• Polyamide Yarns
• Polyester Yarns

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

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

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Key Players

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-

• Autoliv Inc.
• ZF TRW Automotive Holdings Corp.
• Toyoda Gosei Co., Ltd
• Nihon Plast Co.

whereas some of the major auto OEMs are-

• General Motors Company
• BMW
• Toyota Motor Corporation
• Ford Motor Company.

The key airbag yarn suppliers for the automotive industry are-

• Invista S.a.r.l.
• Toyobo Co., Ltd. (PHP Fibers)
• Toray Industries
• Hyosung Corporation
• Asahi Kasei Fibers.

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.

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.

Report Features

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:

• 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.

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 3 players)
• SWOT analysis of key players (up to 3 players)

Regional Segmentation

• Current market segmentation of any one of the regions by yarn type

Competitive Benchmarking

• Benchmarking of the top 3 competitors on product portfolio, application presence, strategic alliances, and new product development

Custom Research: Stratview research offers custom research services across the 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 at sales@stratviewresearch.com.