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The global automotive fabric market size was USD 34.10 Billion in 2021 and is expected to register a revenue CAGR of 4.4%

NEW YORK, NY, UNITED STATES, June 6, 2023/EINPresswire.com/ -- The global Automotive Fabric Market was valued at USD 34.10 billion in 2021. It is projected to experience a compound annual growth rate (CAGR) of 4.4% during the forecast period. The growth of the market can be attributed to the increasing demand for eco-friendly automotive fabric materials and the rising adoption of fabrics that are resistant to water, fire, and UV rays. These factors are expected to drive the growth of market revenue.

Furthermore, the market is expected to be boosted by the growing consumer preference for automotive accessories and customized interiors in passenger cars. Automotive fabrics, which are used for upholstery and interior components in vehicles such as carpets, seats, and dashboards, are in high demand due to increased purchasing power and changing consumer preferences for premium automotive products. Additionally, the use of automotive fabrics in multi-layer composite structures contributes to the market's revenue growth.

The adoption of automotive fabrics for protecting seats and floors from dirt, water, and other damages is also contributing to the market's revenue growth. Polyester fabrics, known for their superior physical properties and high mechanical performance, are being increasingly adopted, supporting market growth. In regions with low temperatures, there is a rising demand for woolen fabrics due to their better thermal comfort and high resilience, further driving the adoption of automotive fabrics. Polyethylene Terephthalate (PET) fabrics are also expected to witness increased demand, thanks to their sound insulation and soundproofing benefits, which are crucial for carpets and pre-assembled interior components.

Moreover, there is a growing emphasis on environmental awareness, resource protection, and product reuse and recycling in the automotive industry. Polyester fabrics can be recycled and used in car upholstery, particularly in floor coverings and seat covers. This environmental consideration is another factor driving the demand for automotive fabrics and subsequently boosting the market's revenue growth.

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Segments Covered in the Report

The global automotive fabric market offers a variety of fabric types, including polyester, leather, vinyl, nylon, suede, and others. These fabrics cater to different preferences and requirements in the automotive industry.

In terms of applications, automotive fabrics are utilized in various areas such as floor coverings, pre-assembled interior components, upholstery, airbags, safety belts, tires, and more. Each application serves a specific purpose and contributes to the overall functionality and aesthetics of the vehicle.

The market for automotive fabrics extends to different vehicle types. Passenger vehicles, which include cars and SUVs, form a significant segment. Commercial vehicles, including light commercial vehicles, heavy trucks, buses, and coaches, also rely on automotive fabrics for their interiors and functional components.

Overall, the global automotive fabric market is characterized by a diverse range of fabric types, applications, and vehicle types. These factors contribute to the dynamic and evolving nature of the market, as it caters to the varied needs and preferences of consumers and manufacturers in the automotive industry.

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Strategic development:

In September 2021, Lean Corporation, a leading global automotive technology company specializing in seating and E-Systems, revealed a definitive agreement for a joint venture with Hu Lane Associate, Inc. This Taiwanese company is listed on the Taipei stock market and is renowned for manufacturing top-tier automotive connector products. The joint venture is initially established in Yangzhou, China. By partnering with Hu Lane Associate, Inc., Lean Corporation expands its vertical integration capabilities and enhances its ability to engineer and produce a comprehensive range of connected system products for current and future vehicle architectures offered by global automotive manufacturers.

In January 2022, Toyota Boshoku Corporation made significant advancements in seat and interior component development for the new LEXUS NX, which was launched in October 2021. The seats now feature improved cushioning that effectively distributes body pressure across the buttocks area. Additionally, the seats incorporate remote operations switch areas specifically designed for the luggage compartment, providing convenient control options for users.

In February 2022, Toyota Boshoku Corporation unveiled a new mobility experience through a vehicle interior demonstration experiment. The experiment took place at the Aichi Expo Memorial Park from February 10 to February 16. This innovative showcase allowed visitors to explore and experience the future of vehicle interiors, highlighting the latest advancements and technologies in automotive interior design.

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Competitive Landscape:

Adient Plc, Lear Corporation, Toyota Boshoku Corporation, Seiren Co., Ltd., Suminoe Textile Co., Ltd., SRF Limited, Grupo Antolin Irausa, S.A, Heathcoat Fabrics Limited, Aunde Group SE, and Tesca Technologies Pvt. Ltd.

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