Automotive Airbag Fabric Market Updates

Global Automotive Airbag Fabric Market size was valued at USD 3.6 billion in 2023 and is poised to grow from USD 3.83 billion in 2024 to USD 6.35 billion by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032).

The competitive environment in the automotive airbag fabric market drives collaboration and innovation among manufacturers. Strategic dialogue between airbag and fabric suppliers, automotive manufacturers and technology suppliers contributes to sophisticated products. Major players in the Automotive Airbag Fabric market, including Global Safety Textiles, HMT, New Technical Materials Co., Ltd., Asahi Kasei Co., Ltd., Autoliv AB, Takata Corporation, Teijin Limited, Toray Industries, Toyobo Co., Ltd., Kolon Industries, and Toyota Boshoku Corporation, are attempting to increase market demand by investing in research and development operations. 'Asahi Kasei Corporation (Japan) ', 'Toray Industries, Inc. (Japan) ', 'Toyobo Co., Ltd. (Japan) ', 'Kolon Industries, Inc. (South Korea) ', 'Teijin Limited (Japan) ', 'HMT (Xiamen) New Technical Materials Co., Ltd. (China) ', 'Global Safety Textiles (Germany) ', 'Indorama Ventures Public Company Limited (Thailand) ', 'Hyosung Advanced Materials (South Korea) ', 'Autoliv Inc. (Sweden) ', 'Toyota Boshoku Corporation (Japan) ', 'Safety Components International, Inc. (USA) ', 'Milliken & Company (USA) ', 'Ube Industries, Ltd. (Japan) ', 'Kordsa Teknik Tekstil A.Ş. (Turkey) ', 'SRF Limited (India) ', 'Century Enka Limited (India) ', 'XMT Materials (China)'

The demand for electric vehicles is driving manufacturers to invest in electric vehicle technology. Many original equipment manufacturers (OEMs) have announced various investment strategies for developing and introducing new capacity. Ford, for example, announced a $1.5 billion (about $5 per person in the US) U.S. $11 billion (about $34 per person in the US) will be invested in electric vehicles by 2022. The company plans to roll out 40 EVs by 2022, of which 16 will be fully electric and 24 will be equipped with hybrids by 2019 with German car giant Volkswagen AG in it with a total investment of $66.3 billion (about $200 per person in the US) over the next five years to build more electric and hybrid vehicles, with plans to roll out 75 all-electric vehicles and 60 hybrids MG Motor intends to manufacture, build electric vehicles in India , with an investment of US$1.5 billion. $500 million plus in 2020 sales. The increasing demand for electric vehicles among consumers is expected to provide opportunities for the growth of the automotive airbag market and thus the sales of the airbag fabric market will increase throughout the forecast period.

Rising Passenger Safety Concerns are Driving the Market Growth: The automotive industry is headed for a potentially disruptive decade mostly due to advances in autonomous driving, connected cars, alternative fuel vehicles, minivans and blockchain Industry happens passenger safety is emphasized because few states have strict federal regulations requiring airbags. With the demand for in-vehicle airbags increasing dramatically, manufacturers of airbags and upholstery increased their capacity. Furthermore, the automotive airbag apparel market is expanding exponentially as more vehicles are sold and more airbags are installed per vehicle. Stringent safety standards in place to protect drivers and passengers are expanding the industry. In addition, rising passenger safety concerns are estimated to fuel market demand over the forecast period.

North America region dominated the global automotive airbag fabric market by 2022 (45.80%). In the coming years there may be a need for airbags and accessories due to the anticipated resurgence of automobile manufacturing. Moreover, the U.S. automotive airbag fabric market holds the largest market share, and Canadian automotive airbag fabric market is the fastest growing market in North America region.