According to the Market Statsville Group (MSG), the Global Automotive Airbag Fabric Market size is expected to reach USD 5,182.7 million by 2033 from USD 3,266.1 million in 2023, growing at a CAGR of 5.6% from 2023 to 2033.
Airbag fabrics or textiles are usually high-strength woven materials that endure rapid inflation by an inert gas to soften impacts. Nylon fabrics are among the most often used materials for weaving airbag cushions in general industrial and automotive applications. The fabric used in vehicle airbags is specifically engineered to have qualities that make it appropriate for this use. It must be sturdy, lightweight, and abrasion and tearing-resistant. It also has low gas permeability to guarantee that the gas used to inflate the airbag stays within for a lengthy period of time.
The market is growing due to increasing concern about passenger safety, increasing installation of airbags, and increasing demand for electric cars. Cost-related issues are limiting market expansion in price-sensitive markets, and this has hindered the market growth over the forecasting period. The rise in living standards and per capita income provides an opportunity for investments in the market. Moreover, the market for airbag fabric is driven by severe government laws and safety requirements relevant to car safety systems. Governments all over the world are emphasizing the installation of modern vehicle safety measures to lower the risk of injuries and fatalities in road accidents. As a result, the usage of airbag systems has increased significantly, increasing demand for airbag fabrics.
Based on vehicle type, the market is divided into cars, C/SUV, pickups, vans, MPV, and sports cars. The C/SUV segment accounted for the largest market share in 2023. Due to rising SUV demand in major Asian nations such as China and India, as well as heavily crowded cities in industrialized economies, has boosted the market growth over the forecast period. Moreover, rising customer preference for SUVs due to their appealing characteristics such as roomy interiors, greater ground clearance, and a smooth & pleasant driving experience is boosting demand for SUVs and hence airbag fabrics. In addition, SUVs have a greater rate of airbag fabric fitment than conventional automobiles.
Based on the regions, the global automotive airbag fabric market has been segmented across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia Pacific accounted for the largest market share in 2023. The fast development of light vehicle manufacturers in China and India, rising passenger safety awareness, and the implementation of safety requirements by the respective governments are the key drivers driving the region's growth. Furthermore, the region has a large presence of manufacturers and is seeing substantial expansion in car manufacturing. The Asia Pacific region's increasing car demand immediately translates into a greater market for automobile airbag fabrics.
The Major key players in the global automotive airbag fabric market are:
This market research study categorizes the automotive airbag fabric market-based on vehicle type, airbag type, fabric type, coating type, and yarn type area at the regional and global levels.
Frequently Asked Questions
The global automotive airbag fabric market potential opportunity worth USD 1,916.0 million is opening up from 2023 to 2033. The forecasted market size for the automotive airbag fabric market in 2033 is estimated to be USD 5,182.7 million.
The main players involve in the market are 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., Toyota Boshoku Corporation, Joyson Safety Systems, Porcher, UTT, Milliken, Other Companies, among others.
The opportunities in the automotive airbag fabric market include increasing demand for vehicle safety features, while the risks involve potential product recalls and regulatory changes affecting the industry.
Key trends, innovations, and technological advancements in the automotive airbag fabric market include the development of smart airbags with sensors and advanced materials to enhance safety, as well as the integration of inflatable curtains and side-impact airbags for comprehensive protection.
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