Automotive Airbag Fabric Market to Reach US$ 2.3 Billion in 2024, Says Stratview Research

DETROIT, July 31, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Automotive Airbag Fabric Market Vehicle Type (Car, C/SUV, Pickup, MPV, Van, and Sports Car), by Airbag Type (Driver Airbag, Passenger Airbag, Side Airbag, Curtain Airbag, and Other Airbags), by Fabric Type (OPW fabric and Flat Fabric), by Coating Type (Coated fabric and Uncoated fabric), by Yarn Type (Polyamide Yarn and Polyester Yarn), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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 publishing a series of comprehensive reports on airbag yarns, airbag inflators, and tire yarn, we have further expanded our portfolio with a first of its kind study on airbag fabrics 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 low-hanging fruits available in the market as well as formulate the growth strategies.

Automotive Airbag Fabric Market: Research Highlights

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 stringent government regulations by mandating 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.

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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 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.

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.

Based on the yarn type, 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.

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In terms of region, Asia-Pacific has been the largest market for airbag fabrics, primarily propelled by China, Japan, South Korea, and India. However, North America and Europe are also the major markets and are anticipated to generate considerable demand 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.

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 key players to gain a competitive edge in the market.

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.

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

This report studies the airbag fabric market in the global automotive industry and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:

Automotive Airbag Fabric 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 Fabric 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)
• Curtain Airbag (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Other Airbags (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Airbag Fabric Market by Fabric Type:

• OPW (one-piece woven) Airbag Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Flat Airbag Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Airbag Fabric Market by Coating Type:

• Coated Airbag Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Uncoated Airbag Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Airbag Fabric Market by Yarn Type:

• Polyamide Airbag Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyester Airbag Fabric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW) 

Automotive Airbag Fabric Market 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)

Stratview Research has several high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Automotive Industry

Some of our other related premium reports in the automotive industry:

Automotive Airbag Yarn Market 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), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Tire Yarn Market by End-Use Industry Type (Automotive, Specialty Vehicles, Aircraft, and Others), by Yarn Type (Polyamide, Polyester, and Others), by Application Type (Cord Ply, Cap Ply, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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