Technical textiles that are used in this automotive or transport sector are called “MOBILTECH.” The latest developments in aircraft, shipbuilding as well as motor vehicle and train manufacture, all can be largely attributed to MOBILTECH, a non-apparel textile.
Mobiltech today covers not only isolation and safety aspect but also focuses on comfort and style. The customers look for aesthetically pleasing interiors, great comfort and fuel economy. Textile components in automobiles consist of either visible components like upholstery, carpets, seat belts, headliners etc. or concealed components like tyre cords, hoses, belts, airbags etc.
The increasing disposable income levels and rising living standards in emerging economies such as China and India has an immense contribution toward the development of the modern market. In addition, these countries along with growing Middle East market has created new avenues for major manufacturers.
Expected CAGR between 2016 to 2024
The global automotive textiles market demand was 3.81 million tons in 2015 and is expected to reach 5.14 million tons by 2024, growing at a CAGR of 3.3% from 2016 to 2024. Increasing automobiles production, particularly in the Asia Pacific coupled with the favourable regulatory scenario, is expected to drive the global automotive textiles market over the forecast period.
The Asia Pacific was the leading regional market and accounted for 48.7% of total market volume in 2015. Increasing automotive production in China, India, Thailand and Indonesia on account of increasing demand is expected to drive the regional market over the forecast period.
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