Report : North America Automotive Fabric Market Forecast to 2030 - Regional Analysis - by Component (Carpet, Headliner, Hood Liner, Insulation, Seat Covering Material, and Others) and Material (Textiles, Artificial Leather, Genuine Leather, and Artificial Suede)
At 4.2% CAGR, the North America Automotive Fabric Market is Speculated to be worth US$ 10,937.09 million by 2030, says Business Market Insights
According to Business Market Insights' research, the North America automotive fabric market was valued at US$ 7,890.92 million in 2022 and is expected to reach US$ 10,937.09 million by 2030, registering a CAGR of 4.2% from 2022 to 2030. Adoption of Sustainable Fabrics and increasing vehicle production and sales are among the critical factors attributed to the North America automotive fabric market expansion.
The potential use of a sustainable form of fabric is being increasingly promoted across the automotive industry. Advanced automotive fabrics are crucial in ensuring the safety and performance of vehicles. The demand for environment-friendly fabric material has been increasing with the rising concerns related to environment degradation and waste management coupled with a growing focus on the deployment of sustainable materials. The demand for such materials is strongly driven by stringent government regulations related to the adverse impacts of fabric materials. Various initiatives that promote sustainability are majorly contributing to the advancement of the manufacturing sector. Several campaigns organized by various associations, such as People for the Ethical Treatment of Animals (PETA), Plant and Animals Welfare Society (PAWS), and World Wildlife Fund (WWF), are proliferating the demand for eco-friendly fabrics. The implementation of animal rights laws in various economies is another factor that is encouraging manufacturers to adopt animal-free and environment-friendly alternatives for in-vehicle materials. In February 2023, Lenzing and Natural Fiber Welding Inc (NFW) partnered to develop and launch sustainable leather alternative used for automotive and other applications.
The investment by the manufacturers in research and development of cost-effective, environment-friendly, and performance-efficient automotive fabrics has increased. Government regulations pertaining to circular economy and sustainable growth have encouraged automobile manufacturers to recover and recycle end-of-life vehicles. In 2022, Renault Group aimed to increase the recycled materials content in the production of automobiles. Thus, the adoption of sustainable automotive materials is anticipated to fuel the automotive fabric market growth during the forecast period.
On the contrary, harmful effects of PVC and PU and durability issues of synthetic leather hampers the growth of North America automotive fabric market.
Based on component, the North America automotive fabric market is categorized into carpet, headliner, hood liner, insulation, seat covering material, and others. The carpet segment held 43.0% market share in 2022, amassing US$ 3,396.57 million. It is projected to garner US$ 4,944.06 million by 2030 to expand at 4.8% CAGR during 2022-2030.
In terms of material, the North America automotive fabric market is categorized into textiles, artificial leather, genuine leather, and artificial suede. The textiles segment held 42.4% share of North America automotive fabric market in 2022, amassing US$ 3,348.44 million. It is projected to garner US$ 4,764.35 million by 2030 to expand at 4.5% CAGR during 2022-2030.
Based on country, the North America automotive fabric market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 74.2% share of North America automotive fabric market in 2022. It was assessed at US$ 5,855.06 million in 2022 and is likely to hit US$ 8,198.09 million by 2030, exhibiting a CAGR of 4.3% during 2022-2030.
Key players operating in the North America automotive fabric market are Lear Corp, Bader GmbH & Co KG, BOXMARK Leather GmbH & Co KG, AUNDE Group SE, Grupo Empresarial Copo SA, Classic Soft Trim Inc, Shawmut Corp, Apex Mills Corp, and Seiren Co Ltd, among others.
- In Feb 2022, Lear Completes Acquisition of Kongsberg Automotive's Interior Comfort Systems Business Unit.
- In Sep 2021, Shawmut Corporation Debuted Neoluxe Fabric Family At 2021 IAA Mobility Conference.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com