DUBAI, United Arab Emirates, March 15, 2022 (GLOBE NEWSWIRE) -- Mounting at a consistent CAGR of 4.7% (2022-2030), the global automotive exterior trim parts market, which accounts for a net worth of US$ 21.03 Bn at present, is projected to surge to a valuation of US$ 30.34 Bn by the end of 2030.
Newer trends such as embedding of cutting-edge connectivity systems in exterior body parts of vehicles, with weight reduction will continue to give an uptick to body aesthetics in the market for automotive exterior trim parts.
| Automotive Exterior Trim Parts Market Size (2022) | US$ 21.03 Bn | |
| Projected Market Value (2030) | US$ 30.34 Bn | |
| Estimated Market Growth Rate (2022-2030) | 4.7% CAGR | |
| East Asia Market Share | 34% | |
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Key Takeaways of Automotive Exterior Trim Parts Market
- Achieving light-weighting by 40%, aluminium in body panels to remain preferred over steel
- With 54% volume share in automotive production in 2018, China, India and Australia will witness high demand for automotive exterior trim parts
- A drop by 200-250 BPS is anticipated for the market amidst the ongoing pandemic with recovery anticipated in the first quarter of 2022
- High focus on aesthetics in the mid-size passenger car segment to give traction to sales
Recyclable and Lightweight Materials Finds its Takers
Sustainability and light-weighting are key focal points by manufacturers for design of exterior trim parts.
Aludium, a European midstream aluminium manufacturer has introduced a highly cost-effective exterior trim called as the 55AT that gives a high-end aluminium finish to window frames, roofs and other decorative parts of the vehicle. During casting Aldium uses an advanced filtration system that not only anodises but also brightens the external trim of the vehicle. These products are also provided in very short lead times.
Similarly, Norsk Hydro, a Norwegian aluminium manufacturer has launched its CIRCAL range of products that are being made with recycled aluminium scrap. By using very advanced sorting processes the aluminium being used is not only sophisticated but also contains 75% recycled consumer scrap. This has enabled the company to maintain its carbon footprint in the market.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2030 |
| Historical Data Available for | 2015-2021 |
| Market Analysis | Units for Volume, US$ Mn for Value |
| Key Regions Covered | • North America • Latin America • Europe • East Asia • South Asia & Pacific • Middle East & Africa (MEA) |
| Key Countries Covered | • United States • Canada • Brazil • Mexico • Germany • U.K. • France • Spain • Italy • China • Japan • South Korea • India • Indonesia • Malaysia • Singapore • Australia • New Zealand • Turkey • South Africa • and GCC Countries |
| Key Market Segments Covered | • Product • Vehicle Type • Sales Channel • Region |
| Key Companies Profiled | • AISIN Group • CIE Automotive • DURA Automotive Systems • Ficosa Internacional SA • GEDIA Automotive Group • GRONBACH • Hayashi Telempu Corporation • IDEAL Automotive • KASAI KOGYO Co. Ltd. • KIRCHOFF Automotive • Knauf Industries • NOVARES • NVH Korea • Samvardhana Motherson Group • TOYOTA BOSHOKU Corporation • Plastic Omnium |
| Pricing | Available upon Request |
Automakers Suspend Operations to Keep COVID-19 at Bay
The first quarter of 2020 saw OEMs and manufacturers scrambling to keep production lines for automotive parts up and running as the virus took its hold in Asia and many parts of Europe and North America.
With government advisories being issued, parts and component facilities started to be shuttered at various countries around the world. A dip in discretionary spending and reduced customer footfalls have dampened demand for automotive exterior parts considerably.
While asset impairments are predicted in the near-term. For the time being, quarantine measures, just in time production and reduced workforce is helping manufacturers to obviate the liquidity crunch due to decrease in sales.
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Find More Valuable Insights on Automotive Exterior Trim Parts Market:
FMI in its new market research study, offers an unbiased analysis of the automotive exterior trim parts market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global automotive exterior trim parts market through four different categories – By Product Type, By Vehicle Type, By Sales Channel and region. The global automotive exterior trim parts market study provides information of pricing by different life cycle analysis, product life cycle, key market trends and technologies which are being implemented in the production of the automotive exterior trim parts and product adoption in varied end use industries.
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