Automotive Fabric Market Size & Share 2024 to 2032
Market Size by Fabric Type (Polyester, Vinyl, Leather, Nylon), by Application (Carpets/Floor Covering, Upholstery, Pre-assembled Interior Components, Tires, Safety Belts, Airbags), Vehicle Type & Global Forecast.
Report ID: GMI5617
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Published Date: May 2023
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Report Format: PDF
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Authors: Kiran Pulidindi, Kunal Ahuja
Automotive Fabric Market Size
Automotive Fabric Market size surpassed USD 36.7 billion in 2023 and is anticipated to depict 3.7% CAGR from 2024 to 2032 backed by the strong demand for luxury vehicles with aesthetic interior designs.
Automotive Fabric Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
According to a report, in 2022, around 37,000-38,000 luxury vehicles were sold in India, a 50% increase from that in 2021. Improving consumer spending on luxury items and emerging demand for custom-made vehicle interiors will complement the industry growth by 2032.
Automotive Fabric Market Trends
Rising production of automobiles worldwide and attempts to reduce carbon footprint will complement automotive fabric market expansion. Many automotive brands are looking to use eco-friendly fabric materials within their vehicles to lower carbon footprint. For instance, in October 2022, GM Ventures announced plans to invest in biotechnology company MycoWorks to co-develop Fine Mycelium materials for use in a range of automotive design applications.
Automotive Fabric Market Analysis
The industry size from the carpets/floor covering application was worth USD 8 billion in 2022. Manufacturers of automotive carpets are utilizing raw materials that are high-quality, durable, malleable and robust in nature. Increasing production of new automotive vehicles across nations like the UK, India and Japan should offer a boost to the demand for automotive carpets. In addition, Society of Motor Manufacturers and Traders (SMMT), British car production rose by 6.1% in March 2023, as the shortage of semiconductor chips and other components eased.
Polyester automotive fabric market is expected to witness 4% growth between 2023 and 2032. The material has gained popularity for its high abrasion, high performance, and resistance combined with light and UV resistance at reasonable cost. Many automakers are steadily using ecofriendly materials in vehicle interior to reduce carbon footprint. For instance, in 2022, Autoneum introduced a carpet made of 100% polyester which opened new opportunities for auto manufacturers to meet their sustainability targets.
Asia Pacific automotive fabric industry size was valued at USD 20 billion in 2022. The region is observing robust demand for high-end cars and trucks that are integrated with advanced automotive features and interiors. Automakers are spending heavily on the expansion of their production capacity. For example, in 2023, Maruti Suzuki revealed plans to increase its production capacity by up to 1 million units, a big increase designed to guard its footprint in the country.
Automotive Fabric Market Share
Some of the leading brands present in the global automotive fabric market are
Automotive Fabric Industry News:
This market research report on automotive fabric includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD million from 2018 to 2032 for the following segments:
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Market, By Fabric Type
Market, By Application
Market, By Vehicle Type
Market, By Region