Automotive Fabric Market Business Opportunity, Growth and Future Scope till 2026

Global Automotive Fabric Market was valued US$ 29.9Bn in 2017 and is expected to reach US$ 39.5Bn by 2026, at a CAGR of around 3.14% during a forecast period.

Automotive fabric market is witnessing maximum growth due to increasing demand for automobiles, rising safety measures, growth in the vehicle production volume, rising disposable income, and living standard of people. Also, increasing automotive industry, rapidly expanding demand for automobile accessories, rapidly economic development, and advanced features such as elasticity, resistance to breakage & wear are some of the factors that driving the growth of automotive fabric market over the forecast period. Additionally, expansion in production of passenger vehicles in developing countries of Asia-Pacific is majorly characterized by increase in disposable income, which boost the market growth. Hence, increase in adoption of fabric materials is directly related to the development in applications of the passenger vehicle segment. Conversely, obtain ability of alternative materials such as synthetic leather, natural leather, and PVC may hinder the growth of automotive fabric market in future.

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On the basis of fabric type, vinyl is the highly preferred automotive interior material. Fabrics that are used in automobiles are mostly polyester and rayon blends. Vinyl is the ideal alternative to fabric, it is available in many texture and colors. Leather is a general material used in automotive interiors. Synthetic leather is mainly used in the form of leather, as it is affordable and durable.

The global automotive fabric market is consolidated due to the presence of limited number of players focused in few countries. These major key players have implemented several organic as well as inorganic growth strategies such as mergers & acquisitions, partnerships new product launches, expansions, agreements, and others to strengthen their position in this market.

Asia Pacific dominated the automotive fabric market in 2015. Growth of the automobile sector in Asia Pacific, led by the surge in production of vehicles in emerging economies of India, China, and Japan, is anticipated to drive the market in the region in the next few years. Additionally, establishment of production bases, expansion of manufacturing facilities, easy availability of raw materials, cheap labor, and low cost of production are estimated to propel the demand for automotive fabric in the region. The automotive fabric market in North America is projected to expand significantly, led by the strong domestic demand for comfort, safety, and luxury.

The report will help to decision maker and it highlights potential growth opportunities in the coming years, while also studying the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to automotive fabric market.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global automotive fabric market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global automotive fabric market.

Scope of Global Automotive Fabric Market

Global Automotive Fabric Market, By Fabric Type