Automotive fabrics are woven, nonwoven, knitted, coated, or composite fabrics that are flexible, elastic, soft, and lightweight in design. These fabrics provide seating comfort. The global automotive fabric market is driven by technology developments in advanced fabric materials, which are known to provide superior comfort qualities vis-à-vis other materials. The global automotive fabric market is driven by the rise in consumer demand for comfort. Increase in disposable incomes allows consumers to afford high-end luxury cars. Technological advancements in automotive fabric materials allows lower range cars to be optionally fitted with quality fabrics. These factors are estimated to boost the global automotive fabric market in the next few years. Increase in manufacture of passenger cars is also augmenting the global automotive fabric market.
Fabric (body cloth fabrics, velvet, velour, and tweed), leather (such as genuine leather, synthetic leather, PU or artificial leather, and synthetic leather), thermoplastic polymers, and vinyl are the highly preferred automotive interior materials. Fabrics that are used in automobiles are generally polyester and rayon blends. Velour is an expensive fabric, which is used in high-end cars. Vinyl is the ideal alternative to fabric; it is available in various texture and colors. Vinyl is affordable and easy to maintain; however, the material gets heated when exposed to sun. Leather is a popular material used in automotive interiors. Synthetic leather is a largely used form of leather, as it is affordable and durable. However, genuine leather is the most durable form of leather, but it is expensive.
Automotive fabrics are used in various applications such as upholstery, floor covering, pre-assembled interior components, tires, airbags, and safety belts. Floor covering accounted for the major share of the automotive fabrics market in 2015. The segment is expected to drive the demand for automotive fabrics due to the increasing usage of carpets in automobiles. Automotive fabrics used in carpets possess vibration and noise absorption properties, while being lighter and cost efficient at the same time. In terms of application, the airbags segment is expected to witness significant growth in the near future. Increase in demand for automotive fabric in airbags is driven by the implementation of stringent government regulations regarding safety of drivers/passengers. Additionally, automotive manufacturers are mandated to install safety devices in cars. With technological innovations, consumers are more inclined toward adopting automotive safety products in order to ensure safety and comfort.
In terms of vehicle type, the automotive fabric market can be segmented into passenger cars, light commercial vehicles, and heavy trucks & buses. Passenger cars accounted for the major share of the automotive fabric market in 2015. The segment is estimated to witness significant growth owing to the increase in usage of these fabrics in various applications due to their high strength; elongation capability; and resistance to fire, water, and UV.
Asia Pacific dominated the automotive fabric market in 2015. Growth of the automobile sector in Asia Pacific, led by the surge in production of vehicles in emerging economies of India, China, and Japan, is anticipated to drive the market in the region in the next few years. Additionally, establishment of production bases, expansion of manufacturing facilities, easy availability of raw materials, cheap labor, and low cost of production are estimated to propel the demand for automotive fabric in the region. The automotive fabric market in North America is projected to expand significantly, led by the strong domestic demand for comfort, safety, and luxury.
Key players operating in the automotive fabric market include Lear Corporation, Adient Plc, and Sage Automotive Interiors Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.