The Automotive Textiles Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Textiles Global Market Report 2024, The automotive textiles market size has grown strongly in recent years. It will grow from $28.87 billion in 2023 to $30.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increased automotive production, demand for lightweight and fuel-efficient vehicles, focus on interior comfort and aesthetics, stringent automotive safety regulations, growth of electric vehicles.
The automotive textiles market size is expected to see steady growth in the next few years. It will grow to $35.94 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to rise in autonomous vehicle development, focus on noise reduction and insulation, circular economy initiatives, demand for antimicrobial textiles, increasing focus on carbon footprint reduction. Major trends in the forecast period include advancements in nanotechnology, collaborations between automakers and textile manufacturers, integration of smart textiles, customization and personalization, sustainability and eco-friendly materials.
The growing automotive production is expected to boost the automotive textiles market going forward. Automotive encompasses the design, development, production, and maintenance of motor vehicles, including cars, trucks, motorcycles, and others. Automotive textiles enhance comfort, safety, aesthetics, and functionality, elevating the driving experience and contributing to the industry’s growth. The growth in automotive production creates opportunities for the automotive textile industry to expand and innovate, meeting the evolving needs of the automotive sector. For instance, in May 2023, according to The European Automobile Manufacturers Association (ACEA), a Germany-based automobile manufacturers association, there were 85.4 million automotive vehicles produced worldwide in 2022, an increase of 5.7% compared to 2021. Therefore, the growing automotive production will drive the future automotive textiles market.
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The automotive textiles market covered in this report is segmented –
1) By Textile Type: Leather, Polyester, Nylon, Vinyl, Polyvinyl Chloride (PVC), Other Types
2) By Product Type: Woven, Non-Woven, Composites
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
Product innovations are a popular trend in the automotive textiles market. Major companies operating in the automotive textiles market are focused on product innovations to meet specific demands and sustain their position in the market. For instance, in May 2022, Sumitomo Chemical Co. Ltd., a Japan-based chemical company, and Newlight Technologies Inc., a US-based technology company, started joint development of polypropylene (PP) compounds for use in autos and textile applications using AirCarbon, a carbon-negative biomaterial created by microorganisms from methane. Newlight Technologies will develop new grades of AirCarbon for usage in the automotive and textile industries as part of this collaborative development effort.
The automotive textiles market report table of contents includes:
1. Executive Summary
2.Automotive Textiles Market Characteristics
3. Automotive Textiles Market Trends And Strategies
4.Automotive Textiles market analysis
5. Automotive Textiles Market Size And Growth
6. Automotive Textiles Segmentation
7.Automotive Textiles Regional And Country Analysis
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27.Automotive Textiles Competitive Landscape And Company Profiles
28. Automotive Textiles Key Mergers And Acquisitions
29. Automotive Textiles Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Reliance Industries Limited
- Continental AG
- Johnson Controls
- Lear Corporation
- Asahi Kasei Corporation
- Adient PLC
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The global Automotive Textiles 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.
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.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.
The global "Automotive Textiles Market" report is an information bank that delivers comprehensive information about the market ranging from the establishment to the predictable growth trend.
The key points, on which the report would focus, include the production strategies incorporated by the leading market contenders, global sales growth, factors influencing and restricting the market growth, and thorough analysis by market segmentation.
The global Automotive Textiles market provides a giant platform for several firms, organizations, and manufacturers established across the world Trevira, DuPont, Sage Automotive Interiors, Baltex, Reliance, Auto Textile S.A., Global Safety Textiles, SMS Auto Fabrics, Autoliv, Lear Corporation, Johnson Controls, Acme Mills, Aunde, Borgers, Toyota Boshoku, International Textile Group, Autotech Nonwovens, Suminoe Textile Co. Ltd., ASGLAWO Technofibre, CMI-Enterprises that are competing with each other in terms of offering best possible products and services to their customers and hold significant share over the market.
The report provides summarized analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis.Click Here To Access The Sample Report:: https://www.syndicatemarketresearch.com/sample/automotive-textiles-marketThe report presents a demand for individual segment in each region.
It demonstrates various segments Woven, Nonwoven, Composites and sub-segments Upholstery, Tires, Safety Devices, Engine Components of the global Automotive Textiles market.
Moreover, the global Automotive Textiles market report focuses on the current and upcoming policies and regulations to be incorporated by the federal bodies, which may enhance or suppress the market growth.Read Detailed Index Of Full Research Study @:: https://www.syndicatemarketresearch.com/market-analysis/automotive-textiles-market.htmlApart from this, the global Automotive Textiles market can be better analyzed through geographical as well as regional categorization of the market, which is also included in the report.
