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Automotive Production Surge And The Acceleration Of The Automotive Textiles Market: Powering Innovation and Expansion in the Automotive Textiles Market by 2025
Automotive Textiles Market
What Is the Expected CAGR for the Automotive Textiles Market Through 2025?
In recent times, the size of the automotive textiles market has seen consistent growth. An expansion from $30.14 billion in 2024 to $31.38 billion in 2025 is projected, maintaining a compound annual growth rate (CAGR) of 4.1%. Factors contributing to this growth during the historic period include a rise in automotive production, the increasing demand for vehicles that are lightweight and fuel-efficient, a focus on comfort and aesthetics within the interior, strict regulations pertaining to automotive safety, and the evolution of electric vehicles.
What's the Projected Size of the Global Automotive Textiles Market by 2029?
In the coming years, the market size for automotive textiles is projected to witness stable growth, reaching $38.05 billion in 2029 with a compound annual growth rate (CAGR) of 4.9%. This growth in the anticipated period is driven by factors such as the development of autonomous vehicles, the emphasis on noise insulation and reduction, initiatives for a circular economy, rising demand for antimicrobial textiles, and an increased focus on reducing carbon footprints. Key trends during this forecasted period include developments in nanotechnology, partnerships between automobile manufacturers and textile suppliers, the inclusion of intelligent materials, a drive for customization and personalization, as well as a push for sustainability and eco-friendly materials.
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Top Growth Drivers in the Automotive Textiles Industry: What's Accelerating the Market?
The surge in automobile production is set to propel the automotive textiles market. The realm of automotive incorporates the design, manufacture, upkeep, and development of motor vehicles, covering cars, motorcycles, trucks, and more. Automotive textiles play a significant role in enhancing the comfort, aesthetics, functionality, and safety of these vehicles, thereby enriching the driving experience and facilitating growth in the industry. Increasing automotive production sets the stage for growth and innovation in the automotive textile sector, meeting the changing needs of the automobile industry. For instance, The European Automobile Manufacturers Association (ACEA), based in Germany, reported in May 2023 that the global automotive vehicle production reached 85.4 million units in 2022, marking a 5.7% increase from the previous year. Hence, the upswing in automobile production illustrates a promising future for the automotive textiles market.
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What Trends Will Shape the Automotive Textiles Market Through 2029 and Beyond?
A prevalent trend in the automotive textiles market is the emphasis on product innovations. Dominant corporations in this market niche are putting a special focus on innovating their products to meet exacting requirements and maintain their market status. For instance, in May 2022, Sumitomo Chemical Co. Ltd., a chemical firm based in Japan, and Newlight Technologies Inc., a technology firm located in the US, initiated a joint project to develop polypropylene (PP) compounds for utilization in automobiles and textile applications employing AirCarbon, a carbon-negative biomaterial produced by microorganisms from methane. Under this cooperative development program, Newlight Technologies intends to cultivate new varieties of AirCarbon suited for the automotive and textile sectors.
What Are the Main Segments in the Automotive Textiles Market?
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
Subsegments:
1) By Leather: Genuine Leather, Synthetic Leather
2) By Polyester: Woven Polyester, Non-Woven Polyester
3) By Nylon: Nylon 6, Nylon 66
4) By Vinyl: Rigid Vinyl, Flexible Vinyl
5) By Polyvinyl Chloride (PVC): Soft PVC, Rigid PVC
6) By Other Types: Cotton, Wool, Composite Textiles
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Which Top Companies are Driving Growth in the Automotive Textiles Market?
Major companies operating in the automotive textiles market include Reliance Industries Limited, Continental AG, Johnson Controls, Lear Corporation, Asahi Kasei Corporation, Adient plc, DuPont de Nemours Inc., Toyota Boshoku Corporation, Autoliv Inc., Autoneum Holding AG, Borgers SE & Co. KGaA, Sage Automotive Interiors Inc., Global Safety Textiles GmbH, Shawmut Corporation, Bally Ribbon Mills, Ductmate Industires Inc., Arville Textiles Limited, Baltex Ltd., CMI Enterprises Inc., Jelliff Corp, Fabri-Tech Components Inc., Eleather Group, Adler Pelzer Group, Autotech Nonwovens Pvt. Ltd., Aunde S.A.
Which Regions Will Dominate the Automotive Textiles Market Through 2029?
Asia-Pacific was the largest region in the automotive textiles market in 2024. The regions covered in the automotive textiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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