|
|
Automotive industry puts the squeeze on makers of technical textiles
- Article from:
-
Technical Textiles International : TTI
- Article date:
-
September 1, 2002
- Author:
-
|
Copyright informationCopyright International Newsletters Sep 2002. Provided by ProQuest LLC. (Hide copyright information)
|
INCREASED PURCHASING POWER for original equipment manufacturers (OEMs), stemming from consolidation within the automotive industry, has combined with stringent cost-cutting measures to cause problems for Europe's technical textile producers.
According to the latest study by market consultants Frost & Sullivan, fibre manufacturers have had to cut prices and operate at reduced margins to remain competitive.
The study - focusing on the European market for technical textiles used in airbags, seat belts, carpets, seat upholstery and tyres - forecasts a compound annual growth rate of 1.6% from 2001-2008 and predicts that the market will be worth US$1.18 billion by the end of this period.
...