Asia Pacific Automotive Fabric Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Application, Covering Material Type

The Asia Pacific automotive fabric market is expected to grow from US$ 18,262.57 million in 2019 to US$ 25,806.09 million by 2027; it is estimated to grow at a CAGR of 4.6% from 2020 to 2027. The automotive industry is expected to witness monumental transformation in Asia Pacific owing to rapid urbanization, rise in disposable income, and shift in consumer lifestyle. Further, the positive impact of Asia Pacific along with the improvements in manufacturing capabilities in developing economies and incorporation of advanced technology are among the other factors bolstering the demand for passenger and commercial vehicles. This factor is expected to drive the demand for fabric material used in automotive applications. Further, increasing investment in R&D of advanced vehicle by prominent manufacturers is contributing to the rise in number of vehicle sales. Moreover, with the growth of automotive industry, the demand for lightweight and advanced vehicles is expected to rise in the coming years. Lightweight cars are considered economical and fuel-efficient, and they incorporate minimal manufacturing costs. This would proliferate the demand for natural fiber composites material in the preparation of automotive fabrics.

In case of COVID-19 outbreak, in Asia Pacific, especially India, witnessed an unprecedented rise in the number of COVID-19 positive cases, which led to the discontinuation of automotive manufacturing activities. In addition, other automotive components manufacturing sector has subsequently impacted the demand for automotive fabric during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of automotive equipment manufacturing projects, thereby reducing the demand for automotive fabric. Similar trend was witnessed in other Asia Pacific countries such as Japan, China, Australia, and South Korea. However, the countries are likely to overcome the drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

Based on application, the covering material segment led the Asia Pacific automotive fabric market in 2019. The interior of vehicle is considered to be attractive part and significantly promotes the value of the car. The focus over vehicle interior material along with in-vehicle textile and fabrics is expected to rise with the shifting consumer lifestyle and growing focus towards safety, quality, and aesthetic properties. The vehicle covering material forms an essential part of vehicle interior and adds to overall aesthetic. Apart from providing aesthetic appeal, these materials offer safety and quality features. The different type of car covering material used are nylon, polyester, vinyl leather, and faux materials. Other than this, hybrid form of materials is also used in the form of car seat cover. Such materials offer several functional characteristics that includes durability coupled with resistance to light and abrasion, water vapor permeability (breath ability) along with protection from UV radiation. It is quite imperative that such covering materials should withstand extreme conditions.

The overall Asia Pacific automotive fabric market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific automotive fabric market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific automotive fabric market. A few of the key companies operating in the market are Bader Gmbh and Co. KG; Borgstena Gruppen; Boxmark Leather; Classic Soft Trim; DK Leather Corporation Berhad; JBS Couros; Kyowa Leather Cloth; Lear Corporation; Martur; Moriden America, Inc.; Sage Automotive Interiors Inc. ; Seiren Co., Ltd; Shawmut Corporation; Suminoe Textile Co., Ltd.; and TB Kawashima Co., Ltd.

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