PUBLISHER: The Business Research Company | PRODUCT CODE: 1427714
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427714
Automotive textiles encompass specialized fabrics and textile products designed for use in the interior and exterior of automobiles. These textiles play a diverse role in the automotive industry, contributing to comfort, safety, aesthetics, and functionality.
The primary types of automotive textiles include leather, polyester, nylon, vinyl, polyvinyl chloride (PVC), and others. Leather, a natural material derived from animal hides, is renowned for its durability, luxurious appearance, and soft texture. Within automotive textiles, leather finds applications in upholstery, steering wheel covers, and trimmings, imparting a premium and sophisticated feel to vehicle interiors. Automotive textile products are available in various forms, including woven, non-woven, and composites, catering to passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
The automotive textiles market research report is one of a series of new reports from The Business Research Company that provides automotive textiles market statistics, including the automotive textiles industry's global market size, regional shares, competitors with an automotive textiles market share, detailed automotive textiles market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive textiles industry. This automotive textile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed in the historic period can be attributed to several factors, including the rise in automotive production, increasing demand for lightweight and fuel-efficient vehicles, a heightened focus on interior comfort and aesthetics, adherence to stringent automotive safety regulations, and the growth of electric vehicles. These factors collectively contributed to the expansion and evolution of the automotive textiles industry during that period.
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 anticipated growth in the forecast period can be attributed to various factors, including the increased development of autonomous vehicles, a heightened focus on noise reduction and insulation in automobiles, initiatives promoting the circular economy, a growing demand for antimicrobial textiles, and an increasing emphasis on reducing the carbon footprint. Additionally, major trends expected in the forecast period include advancements in nanotechnology, collaborative efforts between automakers and textile manufacturers, the integration of smart textiles, customization and personalization options, as well as a continued focus on sustainability and the use of eco-friendly materials in the automotive textiles industry.
The expansion in automotive production is poised to escalate the automotive textiles market in the foreseeable future. Automotive activities encompass the full spectrum from conception and design to the manufacturing and upkeep of various vehicles such as cars, trucks, and motorcycles. Textiles play a pivotal role in improving comfort, safety, aesthetics, and functionality in vehicles, thus enhancing the overall driving experience. The burgeoning automotive production landscape presents opportunities for the automotive textiles sector to diversify and innovate, catering to the dynamic demands of the automotive industry. For instance, as per The European Automobile Manufacturers Association (ACEA) in May 2023, global automotive vehicle production surged to 85.4 million units in 2022, marking a significant 5.7% increase from the preceding year. Consequently, the thriving automotive production is set to be a key driver of the future automotive textiles market.
The surge in CO2 emissions is anticipated to be a catalyst for the growth of the automotive textiles market. CO2 emissions denote the increase in the quantity of carbon dioxide (CO2) released into the atmosphere within a specific timeframe. Automotive textiles contribute to reducing CO2 emissions by offering thermal insulation, promoting fuel efficiency, enhancing aerodynamics, supporting recyclability, prolonging lifespan, reducing noise, and aiding in the development of eco-friendly and sustainable vehicle concepts. According to the International Energy Agency in March 2023, there was a 0.9% increase of 321 million tons (Mt) in carbon dioxide (CO2) emissions from industrial processes and energy combustion in 2022. Consequently, the escalation in CO2 emissions is propelling the growth of the automotive textiles market.
Innovations in product development represent a prominent trend in the automotive textiles market. Key companies within this sector are concentrating on introducing novel products to address specific market demands and maintain their competitive standing. For instance, a collaborative effort commenced in May 2022 between Sumitomo Chemical Co. Ltd., a Japanese chemical corporation, and Newlight Technologies Inc., a US-based technology firm, focusing on the joint development of polypropylene (PP) compounds utilizing AirCarbon. AirCarbon is a carbon-negative biomaterial produced by microorganisms from methane. Through this partnership, Newlight Technologies is tasked with creating fresh AirCarbon variations tailored for automotive and textile applications, propelling innovation within these industries.
Strategic collaborations are a priority for major players in the automotive textiles market aiming to achieve a competitive advantage. These partnerships involve the strategic amalgamation of strengths and resources between companies to mutually enhance their success. For instance, in February 2023, Lenzing AG, an Austrian-based sustainable fiber producer, joined forces with Natural Fiber Welding Inc., a US-based company specializing in a circularity platform crafting sustainable materials sourced from plants. Their collaboration aims to produce a completely traceable, plastic-free, and versatile material that meets the surging demand for environmentally conscious and sustainable fashion materials. This partnership emphasizes not only comfort and a delightful tactile experience but also enhances material transparency and traceability.
In August 2022, Archroma Management LLC, a Switzerland-based chemicals company, completed the acquisition of Huntsman Corporation for $718 million. This strategic move enhances Archroma's position as a leading player in innovation, service, and sustainability within the textile industry. The acquisition empowers Archroma to deliver high-performance and innovative solutions to fashion brands and the global textile sector, all while maintaining a commitment to environmental protection and the responsible use of natural resources. Huntsman Corporation, based in the United States, specializes in the manufacturing of automotive textiles.
Major companies operating in the automotive textiles market report are 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 Industries 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.
Asia-Pacific was the largest region in the automotive textiles market in 2023. The regions covered in the automotive textiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive textiles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive textiles market consists of sales of automotive fabrics, carpets, headlining fabrics, and convertible top fabrics. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Textiles Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive textiles market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive textiles ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive textiles market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.