According to Ms. Singh, worldwide demand for technical textiles in the transport sector is expected to reach $29 billion by 2010 based on 13% CAGR projection during 2005-2010. The potential for growth in the automotive textile business may be gauged from the explosive expansion projected for car production, with Asia-Pacific as the growth driver.
Vipin Bhargava of India-based Reliance Industries estimated at the conference that 65.1 million cars are produced each year globally. He said this figure is expected to grow to 75.7 million by 2011 at a CAGR of 3.6%, with the Asia-Pacific region enjoying a large. A Coimbatore-based textile consultant told participants at the conference that natural products such as banana and jute fibers have potential for extensive use in the production of automotive textile fabrics for interiors and carpets.