Press release
Automotive Plastic Bumper Market Revenue is expected to Surpass US$ 13 Bn by 2022
Apart from making the cars look better, bumpers play an instrumental role in minimizing the impact of accidents. Car manufacturers prefer automotive bumpers made from plastic and polymer materials due to their light weight, rigidity and compatibility. While manufacturing plastic bumpers, OEMs are aiming at rendering more sturdiness through the use of composite or hybrid materials such as HDPE. While traditional metal bumpers are tougher than their plastic counterparts, vehicle owners are likely to incur high costs for repairing metal bumpers upon head-on or rear-end collisions. And, since the global automotive industry reaps billions of dollars through customization needs of car owners, automotive plastic bumpers are likely to remain in vogue in the future.
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Made from plastic materials, automotive plastic bumpers are horizontal structures attached to the front-end and rear-end of vehicles. Automotive plastic bumpers can also be integrated to the main body of the car. Their function is to absorb impact of collisions, and minimize repair costs. Automotive plastic bumpers are also being installed to minimize the damage caused to pedestrians when they accidentally run into vehicles.
The Fact.MR report on the global automotive plastic bumper market projects that in 2017, more than US$ 10 Bn worth of automotive plastic bumpers will be sold in the world. The market is further expected to bring in nearly US$ 13 Bn revenues by the end of 2022, reflecting a moderate CAGR. Following highlights will offer more insights into the market’s dynamic growth across multiple segments.
Higher Preference to Polypropylene as Raw Material
Procurement of raw plastic material is observed as a tedious task for OEMs, primarily due to presence of strict laws that compel manufacturers to minimalize the use of plastic in automobile production. However, metal bumpers are costlier and entail higher replacement than plastic bumpers. Among key materials used in production of automotive plastic bumpers, polypropylene is likely to top the list. Optimum rigidity, customization compliance, and relatively affordable procurement are polypropylene is expected to boost its preference among automotive OEMs. In 2017, more than US$ 3 Bn worth of polypropylene-based automotive plastic bumpers are anticipated to be sold across the globe.
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Rising Demand for Passenger Cars with Plastic Bumpers
In the future, OEMs will continue to boost their capacity of manufacturing lightweight automotive plastic bumpers owing to their effective use in production of passenger cars. Compared to commercial vehicles, passenger cars will witness higher sales owing to their fuel mileage, compact designs and affordable prices. Demand for automotive plastic bumpers in production of passenger cars is expected to rise as lightweight plastic bumpers contribute towards boosting the fuel efficiency of vehicle. By the end of 2022, more than US$ 5.4 Bn worth of automotive plastic bumpers sold in the global market will be accounted by passenger cars. On the other hand, heavy commercial vehicles will procure nearly one-fourth of global automotive plastic bumpers market by the end of 2017.
OEMs witnessing Higher Sales of Plastic Bumpers below US$ 300 Price
The report highlights the presence of OEMs in global automotive plastic bumper distribution network. Through 2022, OEMs are projected to remain the largest distributors of automotive plastic bumpers, accounting for around two-third value share. Aftermarket sales of automotive plastic bumpers are also expected to gain traction owing to rising customization needs of vehicle owners.
Automotive plastic bumpers priced below US$ 300 are expected to be prominent in the sales recorded by OEMs. The demand for low prices automotive plastic bumpers is likely to remain high on the grounds of rising efforts of automobile manufacturers towards cost-cutting. While luxury car manufacturers will opt for high-priced automotive plastic bumpers, a majority of the market will witness prominence of low-priced automotive plastic bumpers. Between 2017 and 2022, the low-priced automotive plastic bumpers segment is expected to witness a lucrative incremental opportunity of nearly US$ 1.5 Bn.
Competition Tracking
The report has tracked formative developments in the competitive landscape of the global automotive plastic bumpers market. A shift of OEMs towards low-cost bumper production is evident, particularly on the account of rising demand for low-priced plastic bumpers for customization purposes. Companies such as Toray Industries, Inc., Samvardhana Motherson Automotive Systems Group B.V., Faurecia SA, Benteler International AG, Futaba Industrial Co. Ltd., Compagnie Plastic Omnium SA, Montaplast GmbH, Flex-N-Gate Corporation, and Warn Industries, Inc. are observed to be the key players in the global automotive plastic bumper market.
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