The global AutomotiveTextiles Market is expected to value at USD 31.75 billion by 2024. Automotive textiles industry is subject to witness a substantial growth due to the increasing demand for advanced safety features in both lightweight and heavyweight vehicles, and mandatory administrative regulations for incorporation of safety measures, majorly in the developed economies such as U.S. and the UK. Factors responsible for sustained market growth, in the recent years, include large number of production lines in automotive manufacturing from Asia Pacific region and rising number of vehicles sales each year across the globe.
Additionally,
increasing investment by leading industry players to promote adoption of
automotive textiles is expected drive the growth of automotive textile market
over the forecast period. Increasing vehicle manufacturing in Asia-Pacific
region and growing penetration of automotive sector in both developing and
developed economies are predicted to foster market expansion in the upcoming
years. However, lack of awareness among users about benefits of automotive
textile solutions and higher initial cost of the products are expected to
restrain market growth to a certain extent.
Increasing
demand for advanced textiles and large number of application in automotive
across Asia Pacific region are expected to favor market growth. Rising
awareness regarding large-scale use of automotive textiles due to its properties
such as environmental-friendly and bio-degradability are estimated to fuel the
growth of automotive textile industry over the forecast period. Other factors
responsible for amplifying market value of automotive textiles are easy
availability, and variety of clothing materials with range of stylish designs,
bright colors, and attractive prints.
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Numerous
governmental initiatives promoting use of woven textiles instead of artificial
fibers are estimated to boost the market demand for automotive textiles in near
future. Additionally, stringent governmental laws and regulation prevalent in
the respective regions in regards to the environmental impact of artificial
textiles are positively affecting market performance over the last few years.
However,
regulations such as anti-dumping duties on the large-scale import of automotive
textiles and raw materials are hampering market performance to a certain
extent. Furthermore, variations in prices of raw materials and price
suppressions prevailed on imports of automotive textiles are restraining market
growth. The increase in the overall manufacturing of automotive textiles
Asia-Pacific countries such as China, Taiwan, and India are leasing to an
oversupply in these countries.
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The
automotive textiles market is broadly categorized into four major segments
based on the application type such as upholstery, tires, safety devices and
engine components. The upholstery devices is considered as one of the fastest
growing segment in the automotive textiles industry with substantial revenue
generation in the last few years. Growing popularity of automotive textiles in
the upholstery segment is attributed to the higher market penetration. The
safety devices segment has also witnessed substantial growth due to the growing
user awareness and stringent government regulation regarding adoption of safety
features in the vehicles.
Automotive
textile market is divided by region as North America, Europe, Asia-Pacific,
Latin America and Africa. North America has shown major growth in recent years
owing to the rise in the implementation of latest technologies in automotive
sector, increase in the number of research & development activities in the
region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the automotive
textiles with massive growth in forecast period. Countries such as India, China
and Japan are leading the Asia-Pacific market with rapid industrialization,
robust growth of automotive sector, favorable government laws &
regulations, and significant investment by leading industry players considering
potential growth opportunities in the region.
The
key players in the automotive textile industry are Trevira Co., E. I. du Pont
de Nemours and Company, Sage Automotive Interiors, Inc., Baltex Ltd., Reliance
Industries Ltd., Auto Textile S.A, Global Safety Textiles Co., SMS Auto
Fabrics, Inc., Autoliv Co., Lear Co., Johnson Controls, Inc., Suminoe Textile
Co., Ltd., ASGLAWO Technofibre, Inc., and CMI-Enterprises, Inc.
Market
Segment:
Automotive
Textiles Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
• Woven
• Nonwoven
• Composites
• Others
Automotive
Textiles Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2024)
• Upholstery
• Tires
• Safety Devices
• Engine Components
• Others
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