Press release
Global Automotive Decorative Exterior Trim Market Growth Analysis By Top Leading Players like CIE Automotive, Takata, MVC, Dura Automotive Systems, Altuglass International, and SRG Global & more
The newly released research at Market Study Report titled “2017-2024 Global Automotive Decorative Exterior Trim Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.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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Automotive Decorative Exterior Trim Market is estimated to surpass USD 27 billion by 2024; according to a new research report.
Global automotive decorative exterior trims market share is expected to cross 500 kilo tons till 2024. Substantial automobile production across the globe coupled with shifting preference of consumers towards improving the aesthetics of vehicles will primarily drive the industry growth over the forecast timeframe. Proliferating demand of premium vehicles such as BMW, and Mercedes has led to increased production which in turn positively impacting the industry growth.
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.
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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
For More Details about this report: https://www.marketstudyreport.com/reports/automotive-decorative-exterior-trim-market#2
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