ID: MRFR/AM/8948-HCR | 135 Pages | Published By Swapnil Palwe on March 2023
Automotive Airbag Fabric Market is projected to be worth USD 4.37 Billion by 2027, registering a CAGR of 6.48% during the forecast period (2022 - 2030)
The Automotive Airbag Fabric Market Size is expected to be worth USD 4.37 Billion by the end of the Automotive Airbag Fabric Market Analysis, registering a CAGR of 6.48% during the forecast period. Airbags are used to protect passengers on board in the event of an accident or a collision with another vehicle. Airbag fabric is flexible, with high tensile strength and heat resistance, as well as low air permeability and greater energy absorption. Nylon 6.6, nylon 6, and nylon 4.6 are the most common airbag textiles. During an accident or a sudden impact, airbags are critical in protecting drivers and passengers in any vehicle. Airbags are a standard part of most automobiles' primary safety features. During a sudden impact, airbags expand, contributing to the prevention of any direct injury to the occupants. Airbags are comprised of sophisticated materials that can withstand fast gas expansion without bursting throughout the operation. Airbags are comprised of a variety of gas-impermeable materials; nevertheless, Nylon 6,6 is the chosen fabric for airbags. Aramid fabric is also used in airbags; however, the cost of aramid is prohibitively high, therefore it is only used in specialized applications. The fabric used in airbags must have two important characteristics: high tensile strength and low gas permeability. It must also have suppleness, be lightweight or have a low specific density, and be fatigue resistant. The airbag fabric market is heavily dependent on f vehicle manufacturing and its Automotive Airbag Fabric Market Share and Automotive Airbag Fabric Market Growth are mostly driven by automobile sales.
The COVID-19 pandemic, which resulted in a drop in airbag fabric output, has had a significant influence on the whole Automotive Airbag Fabric Market Size, Automotive Airbag Fabric Market Share, and Automotive Airbag Fabric Market Growth. In terms of material components, this impact has produced a global supply chain disruption. During the shutdown, major airbag fabric manufacturers like Toray Industries, Global Safety System, UTT Technische Textilien GmbH & Co KG, TOYOBO Co. Ltd., Porcher Industries, Autoliv, and ZF TRW s suspended production partially or completely. Furthermore, because of the COVID-19 epidemic, Automotive Airbag Fabric Market Key Players are anticipated to cut their financial investments in automobile airbag research and development. However, the automotive airbag fabric market is likely to rise during the Automotive Airbag Fabric Market Analysis due to a gradual recovery in airbag fabric and airbag production after the pandemic.
With improvements on numerous fronts, including autonomous driving, connected vehicles, alternative fuel vehicles, lightweight vehicles, and blockchain, the automobile industry has been seeing the most potentially disruptive decade. Passenger safety has been a focus of the business as some countries impose rigorous government laws mandating airbags, particularly in the driver and passenger compartments. These patterns are indicating that demand for airbag materials is on the rise. Due to a large growth in demand for airbags in vehicles, leading airbag fabric manufacturers have expanded their capacity. Furthermore, the automotive airbag fabric market is rapidly expanding as a result of rising automobile sales and a rise in the number of airbags installed per vehicle. The expansion of the market is being fueled by stricter safety measures to safeguard the safety of passengers and drivers. In addition, increased concerns about passenger safety are expected to drive market demand higher in the forecasted period.
Several breakthroughs in-car safety technologies have resulted from safety laws. However, as regulatory agencies such as the National Highway Traffic Safety Administration (NHTSA) and the Euro New Car Assessment Program (NCAP) promote the adoption of passive safety systems to reduce road fatalities, this has resulted in high compliance costs. Automakers struggle to deliver passive safety features that comply with safety laws while maintaining a balance between performance and price in price-sensitive markets like India, South Africa, Brazil, and other ASEAN countries. With the addition of additional safety equipment such as airbags, seat belt reminders, and reverse parking sensors, the cost of a passenger vehicle has grown. The entire cost of the car is expected to rise by 8-10% as a result of these safety features. In budget-conscious areas, OEMs only provide one or two airbags, as more airbags increase the vehicle's overall cost. During the forecast period, this is projected to limit the growth of the automotive airbag fabric market.
There have been advancements in airbags, which is another element driving up demand in the industry. Airbag inflators are one of the most important parts of an airbag system. It is primarily constructed up of a member chamber that contains chemical propellants, stored gas, or both, that are detonated to inflate the airbag following a car collision. In the automotive business, different airbag types use different airbag inflator technology.
The Automotive Airbag Fabric Market is further bifurcated into various segments depending on various factors to help the market grow as per the predicted CAGR growth by the end of the Automotive Airbag Fabric Market Forecast period in 2027. The market has been segmented based on the following:
Based on the Yarn Type, the global Automotive Airbag Fabric market has been segmented as follows:
Based on the Coating Type, the Automotive Airbag Fabric market has been segmented as follows:
Based on the vehicle type, the Automotive Airbag Fabric market has been segmented as follows:
Based on the Airbag Type, the Automotive Airbag Fabric market has been segmented as follows:
Based on the Region, the Automotive Airbag Fabric market has been segmented as follows:
The Asia-Pacific region has been the greatest market for airbag fabrics, with China, Japan, South Korea, and India leading the way. Due to a constant increase in vehicle demand and the implementation of severe safety requirements, China and India are the Asia-Pacific market's growth engines. North America and Europe are also big markets, with significant demand for airbag fabrics expected over the next five years. North America's primary markets are the United States and Mexico, whereas Europe's important markets are Germany, France, the United Kingdom, and Russia. Airbags are installed at a higher pace in Europe than in North America and Asia-Pacific.
The global market for automobile airbag inflators is fairly consolidated, with the top companies accounting for more than 78 percent of the total market studied. The market is growing due to an increase in passenger safety concerns, an increase in airbag installation, and an increase in demand for electric vehicles. Cost issues in price-sensitive markets stifle market expansion. Growth in the level of living and per capita income provides an opportunity for market investments. The major Automotive Airbag Fabric Market Key Players are as follows:
Amazon's self-driving vehicle, Robotaxi, will use Hyosung Advanced Materials' airbag textiles. Global Safety Textiles will manufacture the airbags, which will be deployed in three dimensions.
Autoliv Inc, a global pioneer in automobile safety systems, has announced plans to develop a new inflator plant in India. Close to Chennai, a new airbag inflator plant will be established. Customer requirements will be met while global supply chain interruptions and volatility are minimized by localizing inflator production.
This report provides an analytical depiction of the global airbag fabric industry, as well as current trends and future projections, to identify the most promising investment opportunities. The study discusses the worldwide airbag fabric market's key drivers, restraints, and opportunities, as well as the market's difficulties. The current market is quantitatively examined to highlight the global airbag fabric industry's growth situation. The study examines the worldwide airbag fabric market in-depth, based on the level of competition and the competition that will emerge in the next years. Understanding the competitive landscape requires an in-depth assessment of significant strategies used by prominent manufacturers. The research looks into the current and future state of the worldwide Automotive Airbag Fabric Market.
|Market Size||2027: USD 4.37 Billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Yarn Type,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Global Safety Textiles (Hyosung), HMT (Xiamen) New Technical Materials Co., Ltd., Asahi Kasei Co., Ltd., Autoliv AB, Kolon Industries, Takata Corporation, Teijin Limited, Toray Industries, Toyobo Co., Ltd., and Toyota Boshoku Corporation|
|Key Market Opportunities||Increase in the demand for vehicles and the introduction of stringent safety standards|
|Key Market Drivers||
The automotive airbag fabric market is predicted to grow at a 6.48% CAGR between 2022- 2030.
Key contenders profiled in the global automotive airbag fabric market report include Global Safety Textiles (Hyosung), HMT (Xiamen) New Technical Materials Co., Ltd., Asahi Kasei Co., Ltd., Autoliv AB, Kolon Industries, Takata Corporation, Teijin Limited, Toray Industries, Toyobo Co., Ltd., and Toyota Boshoku Corporation.
Rising concern about passenger safety and increasing installation of air bags are the key factors driving the global automotive airbag fabric market growth.
Asia Pacific will lead the global automotive airbag fabric market.