The market for automotive coated fabrics is anticipated to expand at a CAGR of 10.8% between 2021 and 2032.
The drivers of the Automotive Coated Fabrics Market are:
The global market for automotive coated fabrics is anticipated to grow as a result of the increase in demand from the automobile sector. The expansion of this market has been facilitated by the rise in global vehicle production and sales. This need is further fuelled by the expansion of logistics or transportation businesses.
The rapid industrialization, increased segments such as construction, electronics, furniture & fixtures, etc., are projected to boost new opportunities in developing and developed countries alike. This is expected to result in increasing acceptance of innovative products across sectors, thereby driving product demand by 2021-2027. However, high costs associated with automotive coated fabrics can hinder market growth during forecast period.
There are many advantages of the Automotive Coated Fabrics Market.
There are numerous products accessible, and the market is quite competitive.
The products are offered at fair pricing and the market is extremely effective.
The market is adaptable and provides a huge selection of goods.
The consumer has access to a variety of options in the market.
Market Value and CAGR of Automotive Coated Fabrics Market 2022-2032
The market value and CAGR is expected to grow from USD 14.21 Billion in 2022 to USD 30.48 Billion by 2032 at a CAGR of 10.90%.
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From the study, it is observed that the Automotive Coated Fabrics market size is projected to be valued at USD 30.48 Billion by 2032 from USD 14.21 Billion in 2022, registering a CAGR of 10.90% during 2022-2032 due to high demand for automotive coated fabrics and recent developments in production technologies in the global market. Further, it was observed that the Asia-Pacific region is expected to grow steadily during 2021-2032 due to heavy investments by key players in this region and increasing demand for automotive coated fabrics among consumers across these countries.
Challenges of the Automotive Coated Fabrics Market
Some of the challenges of the Automotive Coated Fabrics Market is the volatile raw material prices.
High Cost of Automotive Coated Fabrics: Automotive coated fabrics are expensive as compared to their rubber counterparts. This is a restraint for the market growth.
Key Players in the Automotive Coated Fabrics Market
Some of the key players in the Automotive Coated Fabrics Market are as follows:
Audient plc Bayer AG (Michelin) Celanese Corporation COFLE S.p.A. Dana Incorporated (Lydall, Inc.) (In vista) Gentex Corporation (Sage Automotive Interiors, Inc.) Hartz Corporation (Antolin Group) (Toyota Boshoku Corporation) Audient plc, Delphi Technologies PLC, Lear Corporation and Faurecia S.A. Part of: Wintergreen Research, Inc
Segment Analysis
The most demanded product in the Automotive Coated Fabrics Market is the PVC-coated fabric which is the most preferred choice for outdoor applications. As the need for demand and aesthetic appeal has increased, there is a need to develop a product that can satisfy all these needs. The coated fabric helps in providing durability, waterproofing and UV resistance to the end product, thereby making it suitable for use in various harsh weather conditions.
PVC-coated fabric is widely used in automotive applications such as seat covers, head rests, armrests and deck covers. PVC-coated fabric is also used in other automotive applications such as floor mats and door seals. It has good resistance against oil and grease stains and can be easily cleaned with soap and water. PVC-coated fabric is widely used in marine applications due to its excellent resistance to sunlight, moisture, mildew and saltwater. Marine applications for PVC-coated fabrics include boat covers, awnings, Bimini tops and deck chairs.
The application segment of Automotive Coated Fabrics Market includes
Transportation & Infrastructure (Industrial Buildings & Structures), Passenger Cars & Commercial Vehicles (Trucks), Marine Vessels (Ships) and Recreational Vehicles (Motorhomes). Passenger cars have been the largest application segment
By Region, Europe is the largest market for Automotive Coated Fabrics. The automotive industry in Europe is highly developed with a large number of vehicle manufacturers present in the region. Europe has been a key market for automotive coated fabrics due to the presence of major automobile manufacturers such as Volkswagen, BMW, and Daimler.
Impact of Covid-19
The industry for automobile coated fabrics has been significantly impacted by the Covid-19 pandemic outbreak. Due to the downturn in the automotive industry, a decline in demand is anticipated for the market. The slowdown in production activities and the postponement of new vehicle launches have led to a decrease in demand for automotive coated fabrics.
The Covid-19 pandemic has also impacted the supply chain of automotive coated fabrics. The supply of raw materials and component parts has been hampered by the lockdown imposed by several governments throughout the world. This has caused prices to rise and a supply deficit.
The market is expected to recover from the impact of Covid-19 from 2021 onwards as production activities resume and new vehicle launches are scheduled.
Key developments in the Automotive Coated Fabrics Market 2019-2022
In January, 2018, Sunbrella launched new all-weather upholstery fabrics that are ideal for outdoor furniture. The fabric is soft and UV resistant, ensures easy maintenance and offers comfort to users.
In June, 2018, Schöffel created a new sports clothing collection; the collection comprises of coats, sportswear and footwear made from Dupont’s Kevlar aramid fibre. Kevlar is composed of light weight fibres that improve its thermal stability in extreme conditions. It also provides breathability and flexibility to wearers.
In January, 2018, Tenace Advanced Composites announces an expansion of production facilities in Morgan Hill, California. This expansion added 16,000 sq. ft for manufacturing composite prepreg materials for aerospace applications; the facility will produce UHMWPE based unidirectional tape prepregs with various types of reinforcements.
Automotive Coated Fabrics Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 30.48 Billion |
| Growth Rate | CAGR of 10.90 % during 2022-2032 |
| Segment Covered | Type, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Audient plc Bayer AG (Michelin) Celanese Corporation COFLE S.p.A. Dana Incorporated (Lydall, Inc.) (In vista) Gentex Corporation (Sage Automotive Interiors, Inc.) Hartz Corporation (Antolin Group) (Toyota Boshoku Corporation) Audient plc, Delphi Technologies PLC, Lear Corporation and Faurecia S.A. Part of: Wintergreen Research, Inc |
Key Segments of the Automotive Coated Fabrics Market
Type Overview, (USD Billion)
• Rubber
• Polymer
• Others
Application Overview, (USD Billion)
• Seating
• Door Panels
• Consoles, Instrument Panels
• Air Bags
Regional Overview, (USD Billion)
North America
• U.S
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
• Middle East and South Africa
Frequently Asked Questions (FAQ) :
Automotive Coated Fabrics Market is projected to reach USD 30.48 Billion by 2032, growing at a CAGR of 10.9