Automotive Decorative Exterior Trim Market 2024 Global Analysis By Key Players - Altuglas International, Autoneum Management AG, CIE Automotive SA., Dura Automotive Systems, IAC Group, Magna International, Inc., MVC, National Plastic Technologies Ltd., SR

The global automotive decorative exterior trim market presently stands as one of the most profitable verticals of the overall automotive sphere, the growth of which is currently scaling great heights across a plethora of geographies. Indeed, this expansion alone is a pivotal factor responsible for the growth of automotive decorative exterior trim market, given the spectacular rise in automobile production owing to the increasing disposable incomes, enhanced standards of living, and the growing affordability. This is specifically the case across the emerging economies of the Asia Pacific, that have experienced a momentous growth in economic development and a gradual increase in major industry verticals, automotive being one the principal ones. As per OICA, India’s automobile production stood over 3,952,500 in 2017, while China manufactured a total of over 24,806,600 in the same year. As the manufacturing of automobiles continues to increase, the demand for suitable exterior trims such as windows, lamps, upper trims, etc., will also experience an upsurge, that would majorly impel automotive decorative exterior trim market share.

MarketStudyReport.com Adds Automotive Decorative Exterior Trim Market 2017 – 2024 research report providing information and data By Application, By Vehicle, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 345 Pages with table and figures in it.

Asia Pacific automotive decorative exterior trim market will account for over USD 11 billion over the coming years. Substantial automobile production, especially in the emerging nations including China and India will significantly contribute to the revenue generation. Increasing disposable income along with rising demand for improved vehicle aesthetics across the region will further support the region's dominance. Europe will exhibit over 3% CAGR till 2024 owing to high demand of premium luxury cars in the developed countries coupled with presence of well established players across the region.

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The rising affordability factor has also given rise to the demand for luxury cars equipped with the best accessories. In consequence, this has led to vehicle manufacturers working to develop a widespread variety of high quality products that lend an aesthetic appearance and an excellent finish to automobiles. In addition, automakers have also been investing rapidly in R&D activities to analyze consumer demands and come up with an even enhanced portfolio of exterior trim products, that would commendably impact the overall automotive decorative exterior trim market trends.

LCVs is expected to exhibit over 3.5% CAGR from 2017 to 2024. This can be credited to high product usage, especially in doors and windows. Shifting preference of manufacturers towards plastic usage in production of these trims for LCVs will further strengthen the product penetration. A variety of plastics such as polypropylene, PVC, ASA-AES, urethanes, and polyesters are used in the manufacturing process to reduce the overall vehicle weight, which in turn drives product demand.

Latest innovations and shifting consumer preference demonstrate the increasing demand of plastic in exterior auto components owing to its cost effectiveness than metals. Light weight plastic components improve efficiency and offer environmental benefits while maintaining overall safety. Ongoing R&D activities on design and material is expected to reduce the cost considerably, encouraging the vehicle owners to opt for the product, fostering the industry growth over the coming years.

Around lamp decorative exterior trim market is expected to reach USD 9 billion by 2024. High usage of the product around lamps to improve the aesthetics and to offer superior fit to the auto part will primarily drive the industry growth. Increasing preference for vehicle customization is another factor supporting the industry dominance till 2024.

Windows will exhibit over 4% CAGR from 2017 to 2024 owing to availability of exterior trims in various shapes. Benefits offered such as easy installation, superior fit, and smooth functioning will further propel the industry growth.
Automotive decorative exterior trim market from PCVs will generate the demand of over 430 kilo tons over the forecast timeframe. This can be attributed to increasing passenger vehicle production across the globe. Enhancement of visual appeal due to installation of decorative exterior trims is the major factor attracting the customers, further propelling the demand till 2024.

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OEMs are expected to account for over 70% of the revenue share in the automotive decorative exterior trim market over the forecast timeframe. This can be attributed to adoption of collaborative processes and innovative techniques for product designing & production. Collaborations with vehicle repairing centers will further drive the industry growth.

CIE Automotive, Takata, MVC, Dura Automotive Systems, Altuglass International, and SRG Global are among the prominent industry participants. They focus on regular innovations in manufacturing processes, materials, and design, intensifying the industry rivalry. Business expansion is among the key strategies implemented by the manufacturers to enhance visibility among customers. For instance, in March 2017, SRG Global opened an innovation center in Michigan for strengthening its R&D capabilities and delivering quality products.

Table of Content:

Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Automotive Decorative Exterior Trim Industry Insights
Chapter 4 Automotive Decorative Exterior Trim Market, By Application
Chapter 5 Automotive Decorative Exterior Trim Market, By Vehicle
Chapter 6 Automotive Decorative Exterior Trim Market, By Distribution Channel
Chapter 7 Automotive Decorative Exterior Trim Market, By Region
Chapter 8 Company Profiles

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Related Report:

Global Automotive Decorative Product Market Research Report 2018

In this report, the global Automotive Decorative Product market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.

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