Automotive Airbag Yarn Market Set to Reach US$ 1,361.1 million by 2024
February 25, 2020
Automotive Airbag Yarn Market Overview:
The automotive airbag yarn market is projected to reach an estimated value of US$ 1,361.1 million in 2024. Organic growth of automobile production, especially in Asia and Rest of the World; the introduction of more bags per vehicle; high focus on passenger safety; and the introduction of more stringent safety standards across the globe are the major drivers of the airbag yarns market in the automotive industry.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Airbag Yarn has been viewed from various perspectives such as:
- By Vehicle Type (Compact Car, Mid-Sized Car, Large Car, MPV & LCV, SUV, Others)
- By Airbag Type (Driver Airbag, Passenger Airbag, Side Airbag, Knee Airbag, Curtain Airbag)
- By Yarn Type (Polyamide Yarns, Polyester Yarns)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Airbag Yarn Market Segment Insights:
Polyamide Yarn: The growth engine
Based on the yarn type, the total automotive airbag yarns market is segmented into Polyamide Yarns and Polyester Yarns. Polyamide is likely to remain the most dominant material type in the automotive airbag yarn market during the forecast period. Polyamide 6.6 yarn is mainly used in airbags with the little usage of polyamide 6 yarn. Polyester yarns are more preferred for making the side and curtain airbags and are rapidly gaining the share in the market. Another advantage, which polyester yarns bring to the table that has a significantly lower price than the polyamide yarns.
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Dominance of: Compact Car, SUV, MPV, LCV
The automotive airbag yarn market is segmented based on the vehicle type as Small Car, Mid-size Car, Large Car, MPV & LCV, SUV, and Others. Compact cars, SUVs, and MPVs & LCVs are expected to offer healthy growth opportunities for airbag yarns in the automotive industry in the coming years. Increasing demand for hatchbacks and SUVs in the major Asian countries, such as China and India, and highly congested cities of the developed economies are the major drivers of the demand for yarns for airbags in these vehicle types. The introduction of more stringent passenger safety standards further elevates the demand for airbag yarns in these vehicle types.
A highly/moderately/fragment consolidated Market
The key airbag yarn suppliers for the automotive industry are Invista S.a.r.l., Toyobo Co., Ltd. (PHP Fibers), Toray Industries, Hyosung Corporation, and Asahi Kasei Fibers. New product development, capacity expansion, execution of merger & acquisitions, development of new optimized manufacturing process, collaboration with customers, and formation of the long-term contracts are the key strategies adopted by the key players to gain a competitive edge in the market.
Regional Hegemony of North America
North America and Asia-Pacific are the two largest markets for airbag yarns. North America’s airbag fitment rate is higher than that of Asia-Pacific and Europe. However, Asia-Pacific is expected to remain the dominant market for airbag yarns during the forecast period. Asia-Pacific is set to experience the highest growth in the coming years with most of the growth coming from developing economies including India and China. Most of the major airbag yarn producers are forming strategic alliances with Asian companies to set up a plant in Asia, mainly in China, to tap the market potential.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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