As per MRFR analysis, the OPW Airbag Fabric Market Size was estimated at 5.76 (USD Billion) in 2022. The OPW Airbag Fabric Market is expected to grow from 6.12 (USD Billion) in 2023 to 10.6 (USD Billion) by 2032. The OPW Airbag Fabric Market CAGR (growth rate) is expected to be around 6.28% during the forecast period (2024 - 2032).
Lightweight and long-lasting materials are becoming increasingly important, according to recent industry trends in the OPW airbag fabric market. High-strength and heat-resistant fibers are examples of advanced fiber technologies that are becoming more popular because they improve airbag performance and safety.
Additionally, growing environmental concerns are driving up demand for eco-friendly airbag material. Important factors driving the industry include strict safety laws, especially in industrialized nations where airbags are required in cars.
Additionally, it is anticipated that rising auto production, particularly in emerging nations, will propel market expansion. The OPW Airbag Fabric Market has the potential to grow as a result of the use of sophisticated airbag systems including side and multi-stage airbags.
Due to the anticipated rise in demand for cutting-edge safety measures like airbags, the industry is also being impacted by the trend towards autonomous and semi-autonomous vehicles. Furthermore, chances for innovation and product differentiation are being created by developments in airbag technology, such as the creation of inflatable curtains and knee airbags.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The increasing focus on passenger safety has led to stringent regulations and consumer demand for advanced safety features in vehicles. Airbags play a crucial role in protecting occupants during collisions, and the growing adoption of airbags in both new and existing vehicles is driving the demand for airbag fabrics. The OPW Airbag Fabric Market is expected to witness significant growth as automakers prioritize safety and comply with regulatory mandates.
Technological Advancements in Airbag Fabrics
Ongoing research and development efforts have resulted in the introduction of innovative airbag fabrics with enhanced properties. These fabrics offer improved strength, durability, and occupant comfort. The development of lightweight and tear-resistant fabrics has enabled the design of more compact and efficient airbags, contributing to the overall growth of the OPW Airbag Fabric Market.
Expansion of the Automotive Industry in Emerging Markets
The rapid growth of the automotive industry in emerging markets, particularly in Asia-Pacific and Latin America, is creating new opportunities for the OPW Airbag Fabric Market. Rising disposable incomes and increasing vehicle ownership rates in these regions are driving the demand for new vehicles, which, in turn, is fueling the demand for airbag fabrics.
The raw material segment played a crucial role in shaping the dynamics of the OPW Airbag Fabric Market. Among the key raw materials used in the production of OPW airbag fabrics were polyamide, nylon, and polyethylene terephthalate (PET).
Polyamide, renowned for its exceptional strength and durability, held a significant share of the market, with values projected at 2.873 billion USD in 2023 and 4.94 billion USD in 2032. Its ability to withstand high-impact forces makes it a preferred choice for airbags designed to protect occupants in the event of a collision.
The rising demand for lightweight and high-performance airbags is expected to drive the growth of the polyamide segment in the coming years.
Nylon, another important raw material, offered a combination of strength, flexibility, and abrasion resistance. It was commonly used in the production of airbag fabrics due to its ability to absorb and distribute impact energy effectively, with values of 1.92 billion USD in 2023 and 3.329 billion USD in 2032, respectively.
The increasing adoption of nylon in the automotive industry is anticipated to contribute to the growth of this segment.
Polyethylene terephthalate (PET), known for its lightweight and cost-effectiveness, emerged as a promising raw material for OPW airbag fabric production, with projected values of 1.327 billion USD in 2023 and 2.332 billion USD in 2032.
The growing emphasis on sustainability and the need for lightweight materials in the automotive sector is expected to propel the demand for PET in the airbag fabric market.
The OPW Airbag Fabric Market segmentation provided insights into the market dynamics and helped industry participants make informed decisions. By understanding the specific requirements and preferences of different end-use industries, manufacturers can tailor their product offerings to meet the evolving needs of the market.
This, in turn, is expected to drive innovation and technological advancements in the airbag fabric industry, ultimately leading to enhanced safety and performance in the automotive sector.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The OPW Airbag Fabric Market is segmented by Fabric Type into Woven, Nonwoven, and Knitted. The Woven segment is expected to account for the largest market share in 2023, owing to its high strength and durability. The Nonwoven segment is projected to grow at the highest CAGR during the forecast period due to its increasing use in lightweight and breathable airbag fabrics.
The Knitted segment is expected to hold a significant market share, driven by its flexibility and ability to conform to complex shapes. The OPW Airbag Fabric Market revenue for the Woven segment was valued at around USD 3.2 billion in 2023 and is projected to grow at a CAGR of 6.1% to reach USD 4.5 billion by 2032.
The non-woven segment was valued at USD 2.4 billion in 2023 and is projected to grow at a CAGR of 7.2% to reach USD 3.9 billion by 2032. The Knitted segment was valued at USD 1.1 billion in 2023 and is projected to grow at a CAGR of 6.8% to reach USD 1.8 billion by 2032.
The OPW Airbag Fabric Market is segmented by weave pattern into the plain weave, twill weave, and satin weave. Among these, the plain weave segment accounted for the largest share of the market in 2023 and is projected to continue its dominance throughout the forecast period.
This is primarily due to its high strength and durability, as well as its relatively low cost. The twill weave segment is expected to witness significant growth over the forecast period, owing to its improved tear resistance and dimensional stability compared to plain weave.
The satin weave segment is expected to account for a smaller share of the market due to its higher cost and lower strength compared to the other weave patterns.
The OPW Airbag Fabric Market is segmented based on Coating into Silicone Coating, Polyurethane Coating, and Teflon Coating. In 2023, the Silicone Coating segment held the largest market share of around 40%. The growth of this segment can be attributed to the increasing demand for silicone-coated airbag fabrics due to their superior properties, such as high tear strength, heat resistance, and flame retardancy.
Silicone-coated airbag fabrics are also lightweight and flexible, making them ideal for use in various automotive applications. The Polyurethane Coating segment is expected to witness significant growth during the forecast period, owing to the rising demand for polyurethane-coated airbag fabrics in the automotive industry.
Polyurethane-coated airbag fabrics offer excellent abrasion resistance, chemical resistance, and durability, making them suitable for use in harsh environments. The Teflon Coating segment is expected to account for a smaller market share compared to the Silicone Coating and Polyurethane Coating segments.
However, the segment is expected to witness steady growth during the forecast period, driven by the increasing demand for Teflon-coated airbag fabrics in the aerospace and defense industries. Teflon-coated airbag fabrics offer exceptional heat resistance, chemical resistance, and non-stick properties, making them ideal for use in extreme environments.
Regionally, North America held the largest market share in 2023 at USD 2.086 billion and is projected to maintain its dominance throughout the forecast period with an estimated value of USD 3.538 billion. The growth of the automotive industry, coupled with increasing safety regulations, is driving the growth of the OPW Airbag Fabric Market in North America.
Europe was the second-largest market for OPW Airbag Fabric, holding a value of USD 2.006 billion in 2023, and it is expected to witness steady growth over the next ten years, reaching USD 3.502 billion. The presence of major automotive manufacturers and the growing demand for lightweight vehicles are contributing to the growth of the OPW Airbag Fabric Market in Europe.
APAC was the fastest-growing region for the OPW Airbag Fabric Market, owing to the rising production of automobiles in emerging economies such as China and India, with values projected to rise from USD 1.113 billion in 2023 to USD 2.023 billion by 2032.
South America and MEA are expected to witness moderate growth over the forecast period, with South America starting at USD 0.366 billion in 2023 and reaching USD 0.643 billion by 2032, while MEA is set to grow from USD 0.549 billion in 2023 to USD 0.893 billion by 2032.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the OPW Airbag Fabric Market are focusing on expanding their presence and increasing their product offerings to cater to the growing demand for OPW Airbag Fabric. These players are investing in research and development to develop innovative products and technologies, as well as establishing strategic partnerships to expand their reach.
They are also focusing on cost optimization and process improvement to enhance their profitability and competitiveness. Leading OPW Airbag Fabric Market players are adopting various strategies to gain a competitive edge, such as mergers and acquisitions, joint ventures, and technology collaborations.
OPW Airbag Fabric Market development is driven by the increasing demand for lightweight and high-performance materials in the automotive industry. The growing focus on safety and emission reduction regulations is also contributing to the growth of the OPW Airbag Fabric Market.
One of the prominent competitors in the OPW Airbag Fabric Market is Teijin Ltd. Teijin Ltd. is a leading manufacturer of OPW Airbag Fabric and other advanced materials used in the automotive industry. The company has a strong presence and a wide range of products, which enables it to cater to the diverse needs of its customers.
Teijin Ltd. is committed to innovation and sustainability, and it invests heavily in research and development to develop new and improved products.
Another major player in the OPW Airbag Fabric Market is Toray Industries, Inc. Toray Industries, Inc. is a leading manufacturer of synthetic fibers, chemicals, and other materials used in various industries, including the automotive industry. The company has a strong focus on research and development, and it has developed a range of advanced OPW Airbag Fabric that meet the stringent requirements of the automotive industry.
Toray Industries, Inc. is committed to providing high-quality products and services to its customers, and it has established a presence to meet the needs of its customers worldwide.
The rising concerns regarding vehicle safety and the increasing production of automobiles drive the market growth. Moreover, the growing adoption of advanced airbag systems, such as side curtain airbags and knee airbags, further fuels market expansion.
The market is expected to witness significant growth in the Asia-Pacific region, owing to the increasing vehicle production and rising consumer awareness about safety features. Key industry players are focusing on developing lightweight and high-strength airbag fabrics to meet evolving safety regulations and consumer demands.
The market is also witnessing the adoption of sustainable and eco-friendly airbag fabrics, aligning with the growing emphasis on environmental consciousness.
| Report Attribute/Metric | Details |
| Market Size 2022 | 5.76(USD Billion) |
| Market Size 2023 | 6.12(USD Billion) |
| Market Size 2032 | 10.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.28% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Kolon Industries, Teijin Ltd., Covestro, Kaneka Corporation, Dow Chemical, Huntsman Corporation, LyondellBasell, BASF SE, Invista Textiles, SABIC, DuPont, Asahi Kasei Corporation, Toyobo Co., Ltd., Toray Industries, Hyosung Group |
| Segments Covered | Raw Material, Fabric Type, Weave Pattern, Coating, Regional |
| Key Market Opportunities | 1 Lightweight Materials Advanced fabrics reduce vehicle weight, improving fuel efficiency 2 Sustainability Ecofriendly fabrics meeting growing consumer demand for sustainable products 3 Advanced Sensor Integration Fabrics equipped with sensors for enhanced safety and functionality 4 Passenger Protection Improved fabric designs enhancing occupant safety in various accident scenarios 5 Customization Personalized airbag fabrics meeting unique vehicle requirements and aesthetic preferences |
| Key Market Dynamics | Increasing vehicle production  Rising demand for safety features  Technological advancements  Growing adoption of lightweight materials  Government regulations on vehicle safety |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The OPW Airbag Fabric Market was valued at USD 6.12 billion in 2023 and is expected to reach USD 10.6 billion by 2032, exhibiting a CAGR of 6.28% during the forecast period.
North America and Europe are the dominant regions in the OPW Airbag Fabric Market, collectively accounting for over 60% of the market share in 2023. The Asia Pacific region is anticipated to witness significant growth during the forecast period due to rising vehicle production and increasing safety regulations.
OPW Airbag Fabric finds applications in various types of vehicles, including passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheelers. Passenger cars accounted for the largest market share in 2023, and this trend is expected to continue during the forecast period.
Major players in the OPW Airbag Fabric Market include Teijin Ltd., Toray Industries, Inc., Kolon Industries, Inc., Hyosung Corporation, and Toyobo Co., Ltd. These companies hold a significant market share and are actively involved in product development and strategic collaborations to maintain their competitive edge.
Increasing vehicle production, rising safety concerns, stringent government regulations, and technological advancements are the primary growth drivers for the OPW Airbag Fabric Market. Moreover, the growing demand for lightweight and durable materials in vehicles is further propelling the market growth.
Fluctuating raw material prices, intense competition, and stringent environmental regulations pose challenges to the growth of the OPW Airbag Fabric Market. Additionally, the development of alternative airbag materials and the transition toward autonomous vehicles may impact the market dynamics in the long run.
The OPW Airbag Fabric Market is anticipated to witness advancements in material innovation, such as the development of stronger and lighter fabrics. Furthermore, the integration of sensors and electronics into airbag fabrics is expected to enhance safety features and drive market growth.
The COVID-19 pandemic had a short-term impact on the OPW Airbag Fabric Market due to supply chain disruptions and production shutdowns. However, with the resumption of economic activities, the market is expected to regain its growth trajectory.
The OPW Airbag Fabric Market is subject to various safety regulations and standards set by government agencies worldwide. These regulations aim to ensure the performance and quality of airbag fabrics to enhance vehicle safety.
Growing demand for electric vehicles, increasing safety regulations in emerging markets, and technological advancements in airbag systems present significant opportunities for growth in the OPW Airbag Fabric Market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
