Snapshot

 

Airbags are inflatable protective equipment which reduces injuries during an accident or impact in co-ordination with the seat belt. The airbags are manufactured by using the yarn/fabrics, primarily nylon 66 or polyamide 66, lighter denier and silicone coated. Airbag installation in cars pushes up the prices of a car significantly. Also, the replacement of airbags after deployment implies similar cost. This being the case low-end cars and M&HCV / LCV commercial vehicles still do not have airbags. The airbags are typically fitted only in the high-end cars and higher-end models of mid-segment cars. Thus, the technical textile consumption of airbags has shot up in value fuelled by the growth of the number of high end/model vehicles.

With the new Government at the centre and talks of rapidly introducing legislation for mandatory airbags installation in cars, there now is a significant chance for the airbags to become a full-fledged OEM segment. In such a case, the demand for technical textile that goes into airbag assemblies shall shoot up. The observed penetration of airbags stands at a minuscule 8% for domestic production. The regulation shall push this number to a full 100% for passenger vehicles, at least.

  • 9.14%

    Expected CAGR during the forecast period 2016 - 2022