Automotive Plastic Bumper Market is projected to increase at a significant CAGR of 4.1% in terms of value during the forecast period, 2017-2022 - States Fact.MR
Adoption of new technologies in the automotive sector has triggered innovations in automotive plastic bumper, which is likely to influence their sales in the years to follow.
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Moreover, government regulations on plastic recycling on back of reducing environmental damage, is expected to offer high growth potential for manufacturers of automotive plastic bumper in the forthcoming years.
Fact.MR foresees that the demand for automotive plastic bumper is projected to increase at a significant CAGR of 4.1% in terms of value during the forecast period, 2017-2022.
Sales of automotive plastic bumper are estimated to surpass US$ 12,500 Mn by end of the assessment year, says the report.
Automotive aftermarket is expected to gain significant traction in the coming years as individuals are inclined toward customization.
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Against this backdrop, the demand for automotive plastic bumper via aftermarket distribution channel is projected to expand at a relatively high rate during the period of forecast, says the report.
However, sales of automotive plastic bumper through original equipment manufacturers (OEMs) are estimated to outclass those from the aftermarket.
The OEM market share in the automotive plastic bumper space was more than 55 percent and is expected to remain the most attractive channel for sales of automotive plastic bumper throughout the assessment period.
Polypropylene is considered as the most suitable material used in the manufacturing of automotive plastic bumper, says Fact.MR.
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The sales of automotive plastic bumper with polypropylene material are estimated to increase at a significant pace.
Comparatively affordable procurement, optimum rigidity and durability and customization compliance features have triggered use of polypropylene by OEMs in automotive plastic bumper production.
Moreover, higher stiffness and toughness coupled with superior impact strength of polycarbonate material has spurred it use in automotive plastic bumper.
The demand for polycarbonate is projected to expand at a relatively higher pace and the material is gaining significant traction owing to its effective weathering, optical, thermal and impact properties.
The sales of automotive plastic bumper made from polycarbonate are poised to expand at a value CAGR of 4.3% during 2017-2022.
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Passenger cars are likely to provide significant opportunities for automotive plastic bumper manufacturers. Increasing production of passenger cars in emerging economies and high sales of passenger cars in developed regions.
OICA estimates that the production of passenger cars in emerging economies such as China and India are expected to increase in the coming years offering substantial growth opportunities for automotive plastic bumper manufacturers.
Also, commercial vehicles, particularly LCVs (light commercial vehicles) are likely to contribute to the growth of the automotive plastic bumper market during the assessment period, according to the report.
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Demand for automotive plastic bumper priced below 300 USD is expected to increase at a higher rate during the period of forecast.
Sales of below 300 USD automotive plastic bumpers are estimated to increase on the back of rising focus of automotive manufacturers toward cost savings.
Sales of automotive plastic bumper between 300-500 USD and above 500 USD are expected to witness steady growth with slight increase in demand from manufacturers of luxury cars, says the report.
Countries in the Asia Pacific excluding Japan (APEJ) region are anticipated to reflect higher inclination toward use of automotive plastic bumper owing to increasing production and use of commercial and passenger vehicles.
Moreover, suitable business environment coupled with cheap land and labor has attracted vehicle manufacturers in the region, which is expected to further the production of vehicles.
Against this backdrop, manufacturers of automotive plastic bumper can expect an upswing in demand from APEJ for automotive plastic bumper during the assessment period.
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