What is Global Airbag Textile Market?
The Global Airbag Textile Market is a vast and dynamic sector that plays a crucial role in the automotive industry. Airbags, a critical safety feature in vehicles, are made from specialized textiles designed to withstand high impact and sudden pressure changes. The market encompasses the production, distribution, and sale of these textiles on a global scale. It's a complex network of manufacturers, suppliers, and buyers, all working together to ensure the safety of vehicle occupants. The market is driven by factors such as advancements in automotive safety technology, increasing vehicle production, and stringent safety regulations. It's a market that's constantly evolving, adapting to changes in technology, consumer demand, and regulatory standards.
Flat Airbag Fabric, OPW Airbag Fabric in the Global Airbag Textile Market:
The Global Airbag Textile Market is divided into two main segments: Flat Airbag Fabric and OPW Airbag Fabric. Flat Airbag Fabric is a type of woven fabric that's used in the production of frontal airbags. It's known for its high tensile strength, durability, and ability to withstand high temperatures. On the other hand, OPW Airbag Fabric, or One-Piece Woven Airbag Fabric, is used in the production of side and curtain airbags. This fabric is woven in a single piece, eliminating the need for seams and offering superior performance in terms of inflation time and tear resistance. Both these fabrics play a crucial role in the overall performance and reliability of airbags, making them a vital part of the Global Airbag Textile Market.
Front Airbag, Side Airbag, Other in the Global Airbag Textile Market:
The Global Airbag Textile Market caters to various areas of application, including Front Airbags, Side Airbags, and others. Front Airbags, as the name suggests, are installed in the front of the vehicle and are designed to protect the driver and front passenger in the event of a frontal collision. They are typically made from Flat Airbag Fabric due to its high tensile strength and durability. Side Airbags, on the other hand, are installed on the sides of the vehicle and are designed to protect occupants in the event of a side-impact collision. They are usually made from OPW Airbag Fabric due to its superior inflation time and tear resistance. Other applications include knee airbags, curtain airbags, and seatbelt airbags, each with their own specific requirements and challenges.
Global Airbag Textile Market Outlook:
The Global Airbag Textile Market has shown significant growth over the years. In 2023, the market was valued at US$ 910.2 million and is projected to reach US$ 1499.1 million by 2030, growing at a CAGR of 7.3% during the forecast period of 2024 to 2030. This growth can be attributed to the increasing demand for safety features in vehicles and advancements in airbag technology. In 2020, Flat Airbag Fabric accounted for a substantial share of 56.85% in the global market, indicating its dominance in the industry. Europe held the largest share in the global market, with its revenue exceeding 36% in 2020. This can be attributed to the high vehicle production and stringent safety regulations in the region. Hyosung, a leading manufacturer, held a significant share in the global market, with its revenue exceeding 29% in 2019. This indicates the company's strong presence and influence in the market.
| Report Metric | Details |
| Report Name | Airbag Textile Market |
| Accounted market size in 2023 | US$ 910.2 million |
| Forecasted market size in 2030 | US$ 1499.1 million |
| CAGR | 7.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Hyosung, Toyobo, Toray, Kolon, HMT, UTT, Porcher Industries, Milliken Textiles, Safety Components |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
