Europe Automotive Textiles Market Outlook

european automotive textiles market outlook 2018-2032 the european automotive textiles market is estimated to be valued at around $3 billion in 2018. furthermore, this market is expected to register a healthy cagr of 5.6% during the forecast period 2018-2032. automotive textiles are used to cover the interiors and exteriors of automobiles. this is done to optimize the appearance, comfort, and sustainability of the car's interior. the demand for automotive textiles is largely driven by increasing production and sales of cars in europe and rising consumer preference and demand for comfortable and enhanced car interiors. the availability of innovative automotive textiles is compelling car manufactures to opt for novel materials and fabrics. this has created an extensive opportunity to the european automotive textiles market. however, key players in the european automotive textiles market have been facing headwinds in terms of rising raw material cost and labor costs. nonetheless, industry players are harnessing the cost-effective production process which is helping them maintain their margin in this competitive landscape. furthermore, increasing penetration of stridency regulations as well as government initiatives to promote sustainable solutions has boosted the demand for eco-friendly automotive textiles. for instance, polyurethane and leather-like synthetic leathers are increasingly being used to reduce hazardous emissions in automobiles. overall, the european automotive textiles market is expected to gain from new product launches, technological advancements, and rising consumer needs and preferences. in conclusion, the european automotive textiles market is anticipated to register a healthy cagr of 5.6% during the forecast period 2018-2032, driven by increasing production and sales of cars in europe and rising consumer requirement for comfortable and enhanced car interiors.