Global Airbag Textiles Market:Overview
Airbag isa type of vehicle safety device designed to promptly inflate during a collisionand deflate after the collision. Airbag is a flexible fabric bag which isdesigned to protect the driver and other passengers in a car in case of crashor accident. Airbags are made of airbag textiles which are made of differenttypes of yarn. Airbags are used in automotive and aerospace industries. Thedemand for airbag textiles is directly proportional to the demand for vehicles.Increasing production of automobiles fueled by rising disposable income,growing number of installations of airbags, introduction of more stringentsafety standards, and surging demand for low-cost fabrics are driving thedemand for airbag textiles in the automotive industry.
Global Airbag Textiles Market: Key Segments
Based ontype, the airbagtextile market can be segmented into nylon, polyamide, and polyester.Polyamide is the most widely used textile for airbags. It is likely to remainthe most dominant segment of the global airbag textiles market during theforecast period. On the other hand, polyester and nylon segments are expectedto expand at a rapid pace during the forecast period, owing to lower cost ofpolyester and nylon.
Based onapplication, the airbag textiles market has been divided into front, side,curtain, and knee. The front airbag textiles segment is dominant, due to higherusage of airbags in the front side of a vehicle. The airbag fabric may becoated to increase the strength of the fabric so that the fabric is reinforced.By increasing the strength of the fabric, breakage of the airbag can beminimized.
Global Airbag Textiles Market: Drivers and Restraints
Increasingnumber of road accidents and rising safety concerns are major factors expectedto drive the airbag textiles market during the forecast period. According toestimates by the World Health Organization (WHO) in January 2018, around 1.3million road accidents occur worldwide every year, of which about 93% occur indeveloping economies. Therefore, governments of different countries areimplementing stringent standards and regulations about safety to reducefatalities and limit injuries caused by accidents by mandating the installationof airbags in vehicles. For instance, with effect from October 2017, theMinistry of Road Transport & Highways has made airbags mandatory in all newcar models in India. Airbags have also been made mandatory for clearance offrontal and side-crash tests and pedestrian protection tests. These factors areexpected to propel the demand for airbag textiles in India during the forecastperiod. Stringent government regulations regarding safety, increasing publicawareness, and rising concerns about safety are projected to fuel the globalairbag textiles market in the next few years.
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However,airbags inflate only once and hence, after the initial collision, they becomeineffective in protecting passengers from further impact. Moreover, airbags arerelatively expensive. Hence, installation of airbags every time they becomeineffective is not affordable. These factors are expected to hinder the marketduring the forecast period.
Geographically,the global airbag textiles market has been classified into North America, AsiaPacific, Europe, Latin America, and Middle East & Africa. North Americadominates the global airbag textiles market, due to expanding automotive andaerospace industries in the region. North America is followed by Europe.Adoption of safety regulations by governments or government agencies andincrease in vehicle sales and safety installations per vehicle in Asia Pacificare augmenting the airbag textiles market in the region.
Global Airbag Textiles Market: Key Players
Keyplayers operating in the airbag textiles market are Toray Group and GlobalSafety Textiles.
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