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Automotive Textiles Industry: Global Survey, Trend Analysis & Forecast by 2024

Increasing automobiles production, particularly in Asia Pacific coupled with the favorable regulatory scenario, is expected to drive the global automotive textiles market over the forecast period. The Global Automotive Textiles Market is expected to reach USD 31.75 billion by 2024, according to a new report by Grand View Research, Inc. These textiles find major applications in the interiors of automobiles. Increasing safety norms such as standard No. 208 of Federal Motor Vehicle Safety Standards has prompted the automobile manufacturers to install seat belts and airbags in the vehicles which have driven the demand for these technical textiles in the recent past. In addition, Introduction of Euro VI by the EU and EEA member states to govern light and commercial passenger vehicles emissions has prompted the demand for automotive filters which has had a positive impact on automotive textiles demand. The increasing disposable income levels and rising living standards in emerging e...