At 4.7% CAGR, the Europe Automotive Fabric Market is Projected to be worth US$ 10,504.98 million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe automotive fabric market was valued at US$ 7,282.55 million in 2022 and is expected to reach US$ 10,504.98 million by 2030, registering a CAGR of 4.7% from 2022 to 2030. Innovative technological development in automotive fabric industry and rising focus on automotive aesthetics and interior quality are among the critical factors attributed to the Europe automotive fabric market expansion.

Many manufacturers are involved in product innovations related to automotive fabrics. To manage the rise in demand and supply capabilities, manufacturers are incorporating various legal and consumer requirements to launch environment-friendly, technologically advanced, and legally approved fabric materials. Development of coatings that provide resistance to stains, water and UV radiations, help in maintaining the appearance and durability of automotive fabric. The continuous research into developing fabrics that can accommodate airbags while ensuring customer safety, thereby prompting development of tear-resistant materials and seamless integration. Moreover, the significant use of knitted and woven fabrics, owing to their improved flexibility, comfort, stretchability, and better visual quality, promotes the demand for such fabrics. The manufacturers prefer lightweight composite material, which possesses minimal moisture content and is integrated with advanced adhesive technology to regulate sealing, vibration, and harshness in vehicles. Also, the use of fabrics in floor covering to absorb noise and vibration enhances the overall customer experience. Thus, a rise in innovative technological developments in the automotive fabric industry is likely to generate several growth opportunities for the market in the coming years.

On the contrary, harmful effects of PVC and PU and durability issues of synthetic leather hampers the growth of Europe automotive fabric market.

Based on component, the Europe automotive fabric market is categorized into carpet, headliner, hood liner, insulation, seat covering material, and others. The carpet segment held 41.7% market share in 2022, amassing US$ 3,036.13 million. It is projected to garner US$ 4,598.77 million by 2030 to expand at 5.3% CAGR during 2022-2030.

In terms of material, the Europe automotive fabric market is categorized into textiles, artificial leather, genuine leather, and artificial suede. The textiles segment held 42.6% share of Europe automotive fabric market in 2022, amassing US$ 3,102.05 million. It is projected to garner US$ 4,593.09 million by 2030 to expand at 5.0% CAGR during 2022-2030.

Based on country, the Europe automotive fabric market has been categorized into Germany, France, the UK, Italy, Russia, Poland, Sweden, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 44.1% share of Europe automotive fabric market in 2022. It was assessed at US$ 3,208.12 million in 2022 and is likely to hit US$ 4,459.40 million by 2030, exhibiting a CAGR of 4.2% during 2022-2030.

Key players operating in the Europe automotive fabric market are Lear Corp, Bader GmbH & Co KG, BOXMARK Leather GmbH & Co KG, AUNDE Group SE, Grupo Empresarial Copo SA, Dual Borgstena Textile Portugal Unipessoal Lda, Shawmut Corp, and Seiren Co Ltd, among others.

• In Mar 2022, Lear Acquired Leading Seating Materials Specialist Thagora.
  
  
• In Sep 2021, Shawmut Corporation Debuted Neoluxe Fabric Family At 2021 IAA Mobility Conference.
  
  
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