Global Airbag Textiles Market: Overview
Airbag is a type of vehicle safety device designed to promptly inflate during a collision and deflate after the collision. Airbag is a flexible fabric bag which is designed to protect the driver and other passengers in a car in case of crash or accident. Airbags are made of airbag textiles which are made of different types of yarn. Airbags are used in automotive and aerospace industries. The demand for airbag textiles is directly proportional to the demand for vehicles. Increasing production of automobiles fueled by rising disposable income, growing number of installations of airbags, introduction of more stringent safety standards, and surging demand for low-cost fabrics are driving the demand for airbag textiles in the automotive industry.
Global Airbag Textiles Market: Key Segments
Based on type, the airbag textile market can be segmented into nylon, polyamide, and polyester. Polyamide is the most widely used textile for airbags. It is likely to remain the most dominant segment of the global airbag textiles market during the forecast period. On the other hand, polyester and nylon segments are expected to expand at a rapid pace during the forecast period, owing to lower cost of polyester and nylon.
Based on application, the airbag textiles market has been divided into front, side, curtain, and knee. The front airbag textiles segment is dominant, due to higher usage of airbags in the front side of a vehicle. The airbag fabric may be coated to increase the strength of the fabric so that the fabric is reinforced. By increasing the strength of the fabric, breakage of the airbag can be minimized.
Global Airbag Textiles Market: Drivers and Restraints
Increasing number of road accidents and rising safety concerns are major factors expected to drive the airbag textiles market during the forecast period. According to estimates by the World Health Organization (WHO) in January 2018, around 1.3 million road accidents occur worldwide every year, of which about 93% occur in developing economies. Therefore, governments of different countries are implementing stringent standards and regulations about safety to reduce fatalities and limit injuries caused by accidents by mandating the installation of airbags in vehicles. For instance, with effect from October 2017, the Ministry of Road Transport & Highways has made airbags mandatory in all new car models in India. Airbags have also been made mandatory for clearance of frontal and side-crash tests and pedestrian protection tests. These factors are expected to propel the demand for airbag textiles in India during the forecast period. Stringent government regulations regarding safety, increasing public awareness, and rising concerns about safety are projected to fuel the global airbag textiles market in the next few years.
However, airbags inflate only once and hence, after the initial collision, they become ineffective in protecting passengers from further impact. Moreover, airbags are relatively expensive. Hence, installation of airbags every time they become ineffective is not affordable. These factors are expected to hinder the market during the forecast period.
Geographically, the global airbag textiles market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America dominates the global airbag textiles market, due to expanding automotive and aerospace industries in the region. North America is followed by Europe. Adoption of safety regulations by governments or government agencies and increase in vehicle sales and safety installations per vehicle in Asia Pacific are augmenting the airbag textiles market in the region.
Global Airbag Textiles Market: Key Players
Key players operating in the airbag textiles market are Toray Group and Global Safety Textiles.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.