Automotive Fabrics Market Projected to Grow at a 3.6% CAGR from 2023 to 2033

Automotive Fabrics Market
Automotive Fabrics Market

 

The automotive fabrics market is anticipated to thrive at an average CAGR of 3.6% between 2023 and 2033. The market is expected to have a market share of USD 52.78 billion by 2033 while it is likely to be valued at USD 37.06 billion in 2023.

  • The rising businesses producing upholstery for automobiles, the increased scope of technical textiles, and the application of different materials and their grades are likely to transform the market during the forecast period. Furthermore, the high sales of premium vehicles and high third-party sales and installation also garner the market’s success.
  • Companies launching new trending designs with vibrant colors and packaging along with multi-layer designs for extra comfort are also in high demand. Alongside this, the price point, comfort, design, texture, and material are some factors that make all the difference.
  • From bike seat cover to car seat fabric and other fabrics, the products are focused on texture and color. New car businesses and local shop vendors are also promoting new brands with smart and small details that are expected to increase market sales.
  • The advanced knitting technology, computerized designs, curves, and model-based product delivery is also enriching the supply chain management and pushing product performance in the marketing funnel as well.
  • Different types of material grades and prices go hand in hand while selecting the pricing and representation of the product. The restoration of the automotive market is the first milestone that the market has crossed lately.

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Key Takeaways

  1. The United States market leads North America’s automotive fabrics market in terms of market share in North America. The United States held a market share of 14.8% in 2022. Factors attributed to the new products and designs, high sales of cars and other vehicles, the advent of electric vehicles, and new businesses launching innovative ideas like sustainable seat covers, etc.
  2. Germany’s automotive fabrics market held a healthy market share of 9.7% in 2022. The market growth is caused by Germany being the center point for automotive manufacturing including premium car-making brands like Volkswagen, BMW, Audi etc.
  3. India’s market thrives at an average CAGR of 4.5% between 2023 and 2033. The growth is attributed to the increased per capita income, and growing third-party fabric installation businesses.
  4. China thrives at a CAGR of 4.2% between 2023 and 2033.
  5. Based on product type, the woven fabric segment held the leading market share of 43.0% in 2022.
  6. Based on sales channel, the OEM segment leads as it held a market share of 82.0% in 2022

Competitive Landscape

The key suppliers focus on affordable, premium quality, texture, and material. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Key Players Profiled in the Global Market

  • HHenkel AG & Co. KGaA
  • Namics Corporation
  • ASE Group
  • MacDermid Alpha Electronic Solutions
  • Parker LORD Corporation
  • H.B. Fuller Company
  • Dow Inc.
  • ELANTAS GmbH
  • Zymet
  • Hitachi Chemical Co., Ltd.
  • Panasonic Corporation
  • AI Technology, Inc
  • Indium Corporation
  • Sanyu Rec Co., Ltd.
  • Dymax Corporation
  • Epoxy Technology, Inc.
  • Protavic International
  • YINCAE Advanced Materials, LLC

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Market Segmentation

By Product Type:

  • Woven Fabric
  • Non – woven Fabric
  • Knitted Fabric

By Sales Channel:

  • OEM
  • Aftermarket

By Application:

  • Airbags
  • Floor Covering
  • Belts & Hoses
  • Tires
  • Car Roof
  • Safety-Belts
  • Pre-Assembled Interior Component (PRIC)
  • Upholstery
  • Others

By Vehicle Type:

  • Compact Passenger Cars
  • Mid-Sized Passenger Cars
  • Premium Passenger Cars
  • Luxury Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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