Automotive Textiles Market Size, Share & Trends Analysis Report By Product (Woven, Nonwoven, Composites), By Application (Upholstery, Tires, Safety Devices, Engine Components), And Segment Forecasts, 2022 - 2030

Automotive Textiles Market Growth & Trends

The global automotive textiles market is expected to reach USD 38.47 billion by 2030, expanding at a compounded annual growth rate (CAGR) of 3.2% from 2022 to 2030, according to a new report by Grand View Research Inc. Growth in automobile production coupled with the increasing focus on safety devices is expected to propel market growth.

The industry observes integration among the raw material manufacturers, producers, and distributors. Distributors assist the automotive industries in effectively using the product across the entire range of their major applications. Distributors act as the key link between the manufacturers and the automotive sectors, which require textiles for car seat covers, for production of airbags, and seat belts, among several others.

Major raw materials for automotive textiles are woven, composite, and various other nonwoven fabrics that are 100% polypropylene. Manufacturers of automotive textile continue to be alert about dealing with the raw materials price fluctuations and invest in research & development for innovative techniques to minimize the risks associated with it.

Automotive Textiles Market Report Highlights

• The woven product segment accounted for a market share of 39.10% in 2021, owing to its significant applications in automotive interiors. Enhancement in the car models along with rising demand for comfort inside the vehicles is expected to fuel the utilization of the product in car seats
• The upholstery application segment dominated the market in 2021 and is estimated to generate revenue of USD 21,471.6 million by 2030, owing to the growing demand for safety devices in the region
• The automotive textiles market in Asia-Pacific is anticipated to expand at a CAGR of 3.6% from 2022 to 2030 on account of increased population, urbanization, and key players extending their operations in this region
• The U.S. automotive textiles market is projected to witness strong growth during the forecast period and reach a market value of USD 5,867.9million in 2030 on account of the presence of major players in the country, increased demand for premium, and luxury textiles in car interiors, and fast urbanization
• The market is competitive owing to the presence of several players that are primarily consolidated in the Asia Pacific and North America, whereas Europe exhibits a limited presence of the established players