Automotive Airbag Fabric Market Top prominent companies business landscapes are dynamic, and success depends on a company's ability to adapt to changing circumstances with respect to regions and countries. Companies that successfully integrate emerging technologies like AI, blockchain, and the IoT into their operations often gain a competitive edge.
*Disclaimer: List of key companies in no particular order
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Competitive Landscape of Automotive Airbag Fabric Market: A 600-Word Analysis
The automotive airbag fabric market is a complex and dynamic space, teeming with established players and innovative newcomers. Understanding the competitive landscape is crucial for navigating this market, and this analysis dives into key player strategies, market share factors, emerging trends, and the overall competitive scenario.
Key Player Strategies:
Global Diversification: Leading players like Teijin Limited, Hyosung Corporation, and ITOCHU Corporation are aggressively expanding their presence in emerging markets like India, China, and Southeast Asia, capitalizing on rising vehicle production and safety regulations.
Product Innovation: Market leaders are investing heavily in research and development, focusing on lighter, stronger, and more sustainable fabrics. Examples include Teijin's high-strength nylon "Vectran" and Hyosung's patented "M'Sphere" yarn offering superior tear resistance.
Vertical Integration: Some players, like ITOCHU, are vertically integrating by acquiring weaving and coating companies, ensuring a consistent supply chain and cost control.
Strategic Partnerships: Collaboration is key. Leading players are partnering with automobile manufacturers and safety technology companies to develop and test new airbag fabrics that meet evolving safety standards and consumer preferences.
Factors for Market Share Analysis:
Production Capacity and Geographic Footprint: Companies with robust production capacity and a global presence, particularly in fast-growing regions, hold a significant advantage.
Product Portfolio and Innovation Capability: A diverse product portfolio catering to different airbag types and vehicle categories, coupled with continuous innovation in materials and technology, attracts market share.
Cost Competitiveness and Supply Chain Efficiency: Maintaining competitive pricing through efficient manufacturing and sourcing allows players to win contracts and gain market share.
Brand Reputation and Quality Assurance: A strong brand reputation built on consistent quality and reliability attracts both automakers and consumers, solidifying market share.
New and Emerging Trends:
Sustainability Focus: The use of bio-based and recycled materials in airbag fabrics is gaining traction, driven by environmental concerns and regulations. Companies like Hyosung are offering their EcoAir® fabric made from recycled PET bottles.
Advanced Functionality Integration: Sensor-embedded fabrics that can detect deployment timing, passenger weight, and even health parameters are being developed, enhancing safety and potentially offering personalized airbag activation.
Personalization and Customization: Offering color and texture options for airbag fabrics could emerge as a differentiator, catering to consumer demand for interior customization.
Overall Competitive Scenario:
The automotive airbag fabric market is characterized by intense competition, with established players vying for market share against nimble newcomers. While global giants hold significant sway, regional players are emerging with cost-effective and innovative offerings. Continuous product development, a focus on sustainability, and strategic partnerships will be key for success in this dynamic market. Price sensitivity remains a critical factor, but companies leveraging technological advancements and building strong brand reputations will stand out in the long run. The future of the market promises exciting innovations and a race towards lighter, stronger, and more intelligent airbag fabrics that contribute to enhanced passenger safety and comfort.
Global Safety Textiles: Acquired New Technical Materials Co., Ltd. (NTM) in September 2023, expanding its airbag fabric production capacity and product portfolio. (Source: Global Safety Textiles press release, September 15, 2023)
HMT: Partnered with Teijin Limited to develop lightweight airbag fabrics using Teijin's "PITEX" technology for improved flame retardancy. (Source: HMT press release, October 26, 2023)
Asahi Kasei Co., Ltd.: Launched a new line of airbag fabrics made from recycled PET bottles, contributing to sustainability efforts. (Source: Asahi Kasei press release, December 12, 2023)
Autoliv AB: Collaborating with universities and research institutes on developing next-generation airbag fabrics with self-inflating capabilities. (Source: Autoliv website, "Innovation" section)
Top listed global companies in the industry are:
Global Safety Textiles
HMT
New Technical Materials Co., Ltd.
Asahi Kasei Co., Ltd.
Autoliv AB
Takata Corporation
Teijin Limited
Toray Industries
Toyobo Co., Ltd.
Kolon Industries
Toyota Boshoku Corporation
Automotive Airbag Fabric Market Size was valued at USD 3 Billion in 2023. The Automotive Airbag Fabric market Airbag Type is projected to grow from USD 3.19 Billion in 2024 to USD 4.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.49% during the forecast period (2024 - 2032). An increase in air bag installations, an increase in airbag concerns, and a rise in demand for electric vehicles, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Thanks to developments in a number of fields, such as autonomous driving, connected cars, alternative fuel vehicles, lightweight vehicles, and blockchain, the automotive industry has been going through the most potentially disruptive decade. The industry has given passenger safety a high emphasis because certain countries have severe government laws requiring airbags, notably in the driver and passenger compartments. These patterns point to a rise in demand for airbag components. Due to a dramatic rise in demand for airbags in autos, top airbag fabric producers have boosted their capacity. In addition, the automotive airbag fabric market is expanding significantly as more automobiles are sold and more airbags are installed in each vehicle. Stronger safety standards that are in place to safeguard both drivers and passengers are causing the sector to expand. Additionally, it is projected that during the anticipated time range, growing concerns about passenger safety will increase market demand.
Due to rising auto sales and more air bags being installed in each vehicle, the market for automotive airbag fabric is rapidly growing. Strict safety laws intended to improve driver and passenger safety are also assisting in the market's rise. Additionally, it is anticipated that during the predicted time, rising worries about passenger safety will boost market demand.
Due to the demand for electric cars, automakers are investing in the technology. A number of original equipment manufacturers (OEMs) have announced various investment plans in order to develop and launch new electric models. Ford, for instance, stated that it will invest USD 11 billion in electric vehicles by 2022. The business aims to have 40 electric vehicles on the market by 2022, with 24 of them being plug-in hybrids and 16 being all-electric. German carmaker Volkswagen AG announced in 2019 that it would invest a total of USD 66.3 billion over the ensuing five years on the production of more electric and hybrid vehicles, with plans to deliver 75 completely electric models and 60 hybrid models. By 2020, MG Motor intends to invest USD 500 million in the design, manufacture, and marketing of electric vehicles in India. Sales of airbag fabric are expected to increase over the course of the forecast period as a result of consumers' growing preference for electric vehicles, which is expected to create new growth prospects for the automotive airbag market. Thus, driving the Automotive Airbag Fabric market revenue.
The Automotive Airbag Fabric Market segmentation, based on yarn type, includes polyamide and polyester. Polyamide segment dominated the global market in 2022. Due to its characteristics, including elasticity, fatigue resistance, energy absorption, high tensile strength and wear resistance, high tenacity, small friction coefficient, and relative density to polyester, polyamide yarn is the most popular yarn type on the market. Due to a rise in the penetration of side and curtain airbags in automobiles, polyester yarn is predicted to register a higher growth rate in the market. The fact that polyester yarns are substantially less expensive than polyamide yarns is another benefit that they offer.
The Automotive Airbag Fabric Market segmentation, based on coating type, neoprene coated, silicone coated, and uncoated. Silicone coated segment dominated the Automotive Airbag Fabric Market in 2022. In comparison to uncoated cloth, it has better qualities. In contrast to neoprene, which was previously employed for the same purpose, silicone elastomer is primarily used as the covering material. Due to their outstanding creep resistance, superior tensile strength, high modulus, low shrinkage, dimension stability, enhanced flexibility, and low cost, uncoated fabrics are expected to rise more rapidly in the upcoming years.
The Automotive Airbag Fabric Market segmentation, based on vehicle type, includes passenger cars, light commercial vehicles, heavy trucks, buses, and coaches. Passenger cars segment dominated the Automotive Airbag Fabric Market in 2022. The rising demand for passenger automobiles around the world is to blame for this.
The Automotive Airbag Fabric Market segmentation, based on airbag type, includes front airbag, side airbag, knee airbag, curtain airbag, and other airbags. Curtain airbag segment dominated the global market in 2022. Curtain airbags are quite good at protecting passengers from side-impact collisions. In underdeveloped countries, where frontal airbags already have a very high degree of fleet penetration, they are being deployed more frequently. Compared to developing countries like China and India, developed countries have a substantially higher curtain airbag penetration rate.
Figure 1: Automotive Airbag Fabric Market, by Airbag Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Automotive Airbag Fabric Market dominated this market in 2022 (45.80%). In the upcoming years, there will probably be a need for airbags and the materials used to make them thanks to the anticipated recovery in auto manufacturing. Further, the U.S. Automotive Airbag Fabric market held the largest market share, and the Canada Automotive Airbag Fabric market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Automotive Airbag Fabric Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive Airbag Fabric market accounted for the healthy market share in 2022. This is caused by an increase in vehicle production as well as the rates at which side, curtain, and knee airbags are installed. Further, the German Automotive Airbag Fabric market held the largest market share, and the U.K Automotive Airbag Fabric market was the fastest growing market in the European region.
The Asia Pacific Automotive Airbag Fabric market is expected to register significant growth from 2023 to 2032. The main factors influencing the growth of the region are the quick expansion of light vehicle production in China and India, the rising concern for passenger safety, and the establishment of safety requirements by the respective governments. However, due to impending assembly lines and the increasing number of airbags installed in cars, it is predicted that the rest of the world will expand at the fastest rate. Moreover, China’s Automotive Airbag Fabric market held the largest market share, and the Indian Automotive Airbag Fabric market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Airbag Fabric market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Airbag Fabric Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Airbag Fabric Industry to benefit clients and increase the market sector. In recent years, the Automotive Airbag Fabric Industry has offered some of the most significant advantages to medicine. Major players in the Automotive Airbag Fabric market, including Global Safety Textiles, HMT, New Technical Materials Co., Ltd., Asahi Kasei Co., Ltd., Autoliv AB, Takata Corporation, Teijin Limited, Toray Industries, Toyobo Co., Ltd., Kolon Industries, and Toyota Boshoku Corporation, are attempting to increase market demand by investing in research and development operations.
Elkem ASA (Elkem), a unit of Bluestar Elkem International Co Ltd SA, is a metal production company. Items composed of silicon, silicones, ferrosilicon, foundry alloys, carbon, and microsilica are available from this company. The company's carbon-based goods include cathode ramming pastes, lining materials, taphole and ladle materials, carbon electrodes, coal tar products, electrode paste, and cathode blocks. In addition to the aforementioned industries, Elkem also serves the oilfield, solar, aluminium, automotive, chemical, refractory, and ceramics sectors with metallurgic silicon and microsilica. The company has operations in Oslo and Kristiansand, Norway. Elkem's corporate headquarters are in Oslo, Norway. Elkem Silicones increased the local availability of their upstream silicones in June 2019 to meet the growing demands of the North American market. As a result of this expansion, the company's footprint in North America was strengthened.
A division of DR. Alexander Wacker Familiengesellschaft mbH, the chemical company Wacker Chemie AG (Wacker) develops, manufactures, and distributes chemicals related to silicon and ethylene. Among the many items it offers are siloxanes, silicone fluids, silicone emulsions, resins, elastomers, pyrogenic silica, and silanes. The company also manufactures binders and polymeric additives, as well as dispersible polymer powders and dispersions. It provides specific biotech and catalogue items for the fine chemical sector. Additionally, Wacker produces ultra-pure polysilicon for the solar and semiconductor sectors. The company's products are used in a variety of industries, including consumer goods, food, textiles, base chemicals, medical technology, biotechnology, electrical engineering and electronics, automotive, and construction. Asia, Europe, and the Americas are among the continents where it is in operation. Wacker's corporate headquarters are in Munich, Bavaria. In March 2019, Wacker Chemie AG opened a brand-new Wacker Academy training facility in Tsukuba, Japan. For the sealant, personal care, electronics, and automotive industries, the facility primarily offers lectures on silicone products.
June 2019: To satisfy the expanding demands of the North American market, Elkem Silicones increased the local availability of its upstream silicones. The company's presence in North America was strengthened as a result of this expansion.
Automotive Airbag Fabric Market Highlights:
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