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Dope Dyed Yarn for Automotive Market Expected to Reach $736.4 Million by 2027

 

Report Code : A16207

quote the global dope dyed yarn for automotive market is expected to possess high growth potential in the coming years, as dope dyed yarn used for producing seating fabrics, roof, side, floor and door panels, safety belt, automobile carpets, airbags, air filters, and fuel filters. Properties such as environment friendly, efficient process, and less chemical & water consumption of dope dyed yarn manufacturing process make yarn manufacturers to rapidly shift their manufacturing process from conventional dyeing to dope dyeing. In addition, factors such as flexibility in operation and ease of color selection before buying, lead to customers becoming more linear toward using dope dyed yarn for automotive applications. However, the outbreak of the COVID-19 pandemic has negative impacts on the global dope dyed yarn for automotive market. quote

Eswara Prasad
Manager, Chemical and Material at Allied Market Research

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According to a new report published by Allied Market Research, titled, "Dope Dyed Yarn for Automotive Market by Material Type, Denier Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017–2027,"the global dope dyed yarn for automotive market was valued at $356.1 million in 2017, and is projected to reach $736.4 million by 2027, growing at a CAGR of 7.8% from 2022 to 2027. Dope dyed yarn is an environment-friendly and energy saving raw material that is created by adding masterbatch colorant to the polymer in spinning or extrusion. It substitutes the most polluting process of dyeing in industries. It is widely used in automotive industry for producing seating fabrics, roof, side, floor & door panels, safety belt, automobile carpets, airbags, air filters, and fuel filters. Furthermore, dope dyed yarn is the most preferred yarn for automotive flooring, overlay mats, and moulding purposes.

Rise in urbanization and increase in luxurious lifestyle has contributed to growth of the global automotive industry where dope dyed yarn is widely used for producing seatbelts, airbags, headliners, body cloth, and other automotive items. For instance, according to a report published by the India Brands Equity Foundation in February 2022, domestic automobile production increased at a compound annual growth rate (CAGR) of 2.36% from 2016 to 2020 with 26.36 million vehicles manufactured in India in 2020. This is expected to foster the demand for dope dyed yarn for automotive market during the forecast period. Furthermore, increasing awareness among the public of both developed and developing economies regarding safe driving activities has endorsed the use of seat belts. This is projected to aggressively penetrate the demand for dope dyed yarn used for seatbelt production; thus, fuelling the market growth. However, dying process comprises different chemicals that may create environmental issues such as it may affect biological oxygen demand and chemical oxygen demand (BOD and COD), it inhibits the photosynthesis process, hampers the food chain, and may disturb the plant growth. These factors can hamper the growth of the dope dyed yarn for automotive market.

On the contrary, governments of both developed and developing economies are raising the safety standards of cars. For instance, according to an article published by Hindustan Times in January 2022, in order to enhance the safety of the occupants in motor vehicles carrying up to eight passengers, the Indian Ministry of Road Transport and Highways of India has mandated the automakers to provide minimum six airbags in these vehicles. This is anticipated to increase the sales of dope dyed yarn for airbag production; thus, creating remunerative opportunities for the market.

The dope dyed yarn for automotive market is segmented on the basis of material type, denier type, application, and region. By material type, the market is segregated into polyester, nylon, and others. The polyester segment dominated the global market in terms of revenue in 2020, with 44.1% of the total share. This was attributed to several advantages associated with the use of polyester-based dope dyed yarn such as strong and lightweight, wrinkle and abrasion resistant, quick drying, and less dye absorption temperature (around 100-200 degree Celsius) as compared to other yarns. This makes it best suited for producing carpets, seating fabrics, side, roof, floor & door panels, safety belts, tires, airbags, air filters, fuel filters, insulation materials, and other automobile items. 

By denier type, the market is divided into 30-250, 250-500, 500-1200, and 1200-3000. The 500-1200 segment dominated the global market in terms of revenue in 2020, with 44.7% of the total share. This was attributed to dope dyed yarn with denier range of 500-1200 being mainly used for automotive flooring application. In addition, solution dyed nylon yarn with 900 denier is the most preferred dope dyed yarn for molding and overlay mats in automotive applications.

By application, the market is divided into seatbelt, airbags and headliners, body cloth, carpets, and others. The carpets segment dominated the global market in terms of revenue in 2020, with 41.0% of the total share. This is attributed to dope dyed yarn being widely preferred for producing automotive carpets owing to its lightweight and abrasion resistance properties. In addition, increasing number of premium buyers has surged the demand for automotive carpets where dope dyed yarn is widely used to produce automotive carpet fabrics.

Region-wise, the dope dyed yarn for automotive market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific dope dyed yarn for automotive market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major dope dyed yarn for automotive market share in 2020, owing to the fact that China is the largest automotive manufacturing country in the world. The annual vehicle production in the country accounts for around 30% of the worldwide vehicle production. This has led the dope dyed yarn manufacturers to produce high-quality carpets, car covers, seats, and other automobile items to fulfil the growing needs. In addition to this, countries such as India and ASEAN countries are witnessing a rapid increase in automobile sector where dope dyed yarn is used to produce airbags, headliners, and others. For instance, according to a report published by the National Investment Promotion and Facilitation Agency of India, India is expected to be the third-largest automotive market in the world in terms of volume by 2026.

Key players operating in the global dope dyed yarn for automotive market include , Acelon Chemicals & Fiber Corporation, Alok Industries Ltd, Beekaylon, European Spinning Group, Gujarat Polyfils, HANGHZHOU YONGXING CHEMICAL FIBRE CO., LTD, Jiwarajka Textile Industries, Suryaamba, Thai polyester Co., Ltd., and ZHEJIANG GUXIANDAO POLYESTER DOPE DYED YARN CO., LTD.

COVID-19 analysis

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The COVID-19 crisis has created uncertainty in every market, including the automotive sector. According to a report published by Society of Indian Automobile Manufacturers (SIAM), sale of passenger vehicles, commercial vehicles and two‐wheeler vehicles declined by 51%, 88% and 40% respectively in March 2020. Also, several automobile manufacturing companies have either shutdown or shrank their operations due to the risk of infections among the workforce where dope dyed yarn is used in manufacturing seating fabrics, roof, side, floor and door panels, safety belt, automobile carpets, airbags, air filters, and fuel filters. This has temporarily hampered the demand for dope dyed yarn for automotive market amid the COVID-19 period. Furthermore, to control the surge of novel coronavirus cases, there is a drastic shift of investments from other sectors toward healthcare. In addition, the falling income of customers has led to contraction in the demand for premium automotive products.

Furthermore, the dope dyed yarn manufacturing industry has faced various problems related to transportation, non-availability of a skilled workforce, and reduced export/import orders amid the COVID-19 period. This has led the dope dyed yarn for automotive market to witness a decrease in demand. Moreover, more than 100 countries have locked their international borders for transportation and non-essential trade activities, which have hampered the supply-demand chain of the dope dyed yarn for automotive market during the OCIVD-19 scenario.

In 2020, dope dyed yarn prices were high in Asia-Pacific region. The price rise was due to continued regional demand trends and tight product availability. Firm downstream demand for dope dyed yarn in automotive sector and stronger upstream costs are expected to sustain the price gain.

However, increasing awareness about using eco-friendly products among citizens of both developed and developing economies may surge the popularity of dope dyed yarn in the automotive sector post the COVID-19 scenario. Moreover, the overall service activities of market players have registered a steady and favorable recovery in the subsequent months with increase in the sales of passenger cars. For instance, according to an article published by Business Today in March 2021, Maruti Suzuki experienced a growth of 8.3% with 144,761 units sold out, while Hyundai witnessed a 29% jump with 51,600 units sold in February 2021. This is predicted to enhance the performance of the dope dyed yarn for automotive market post COVID-19 period.

Key findings of the study

  • The polyester material type segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.8% from 2022 to 2027.
  • The 500-1200 denier type segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 8.0% from 2022 to 2027.
  • The carpets segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 8.3% from 2022 to 2027.
  • Asia-Pacific garnered the highest share of 47.2% in 2020, in terms of revenue, growing at a CAGR of 8.3%.

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quote Dope Dyed Yarn For automotive Market by Material Type (Polyester, Nylon, and Others), Denier Type (30-250, 250-500, 500-1200, and 1200-3000), Application (Seat Belt, Airbags and Headliners, Body Cloth, Carpets, and Others): Global Opportunity Analysis and Industry Forecast, 2017–2027 quote

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