Press release
Automotive Industry Growth Fuels Expansion Of Automobile Weather Strip Market Driver: A Major Catalyst in the Evolution of the Automobile Weather Strip Market in 2025
Automobile Weather Strip
Advancements and growth in the automotive industry are anticipated to fuel the expansion of the automobile weather strip market. The automotive industry comprises a wide array of corporations and entities involved in various aspects such as designing, developing, manufacturing, marketing, and selling of motor vehicles. An upsurge in this industry is attributed to increasing customer inclination towards electric vehicles, technological innovation, and urbanization propelling vehicle sales. Auto weather strips constitute a crucial element in the automotive sector, boosting vehicle efficiency and comfort for passengers. As an illustrative example, a report published by the European Automobile Manufacturers Association, a standard group based in Belgium, stated that in March 2024, global new car sales saw nearly a 10% increase post-stabilization in 2022. EU sales experienced a near 14% surge, amounting to around 10.5 million units. There was a 37% growth in new battery-electric car sales, accounting for a 14.6% market share. Global car production achieved 76 million units, signaling a substantial rise of 10.2%. Consequently, the surge in the automotive industry is bolstering the growth of the automobile weather strip market.
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What is the projected compound annual growth rate (CAGR) of the automobile weather strip market from 2025 to 2034, and what factors influence it?
The size of the automobile weather strip market has seen a consistent increase in the previous years. The prediction is that it will escalate from $11.94 billion in 2024 to $12.53 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%. The growth experienced in the historic period is credited to factors such as the increase in aftermarket sales, growth in disposable incomes, heightened emphasis on vehicle safety, raised awareness regarding preventive maintenance, and the expansion of the ride-sharing sector.
Steady growth is anticipated in the automotive weather strip market in the coming years, with an estimated value of $14.99 billion by 2029, reflecting a compound annual growth rate (CAGR) of 4.6%. Factors contributing to this growth during the forecast period include a surge in vehicle manufacturing, an increased inclination towards electric cars, improved vehicular aesthetics and comfort, the proliferation of luxury car industry, and a growing consumer shift towards personalized vehicles. Some of the prominent trends over the forecast period encompass material and production process innovation, collaborations and partnerships within OEMs, infrastructure advancements, a hike in research and development investments, and the application of 3D printing tech in the production of weather strips.
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How are the latest trends influencing the growth of the automobile weather strip market?
Key players in the auto weather strip marketplace are investing in the development of novel technologies like hot-stamping technology to enhance sealant functionality and appeal. This production method uses heat and pressure to apply metallic or colored foils on surfaces, creating both decorative and functional markings. An example of this is Toyoda Gosei Co. Ltd., a Japanese automotive parts company that specializes in rubber and plastic components for vehicles, including weather strips, which introduced a front grille using a newly designed hot-stamping technology in October 2023. This feature is found on the new Lexus LM model. Unique to this product is its innovative foil technology, eliminating the requirement for a top layer to guard against weathering and UV radiation. With their sophisticated understanding of plastic materials, the company has crafted a highly weather-resistant and thicker protective layer for the foil, ensuring the durability consistent with earlier products. This innovation has resulted in a 20% reduction in CO2 emissions during the manufacturing process, and resource conservation by removing the need for a top coat application process.
What are the major segments of the automobile weather strip market and their role in driving growth?
The automobile weather strip market covered in this report is segmented -
1) By Material: Ethylene Propylene Diene Terpolymer Membrane (EPDM) Rubber, Polyvinyl Chloride (PVC) Rubber, Thermoplastic Elastomer Or Rubber (TPE)
2) By Vehicle Type: Passenger Cars, Compact, Mid-Size, Sport Utility Vehicle (SUV), Luxury, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
4) By End-User: Doorframe, Windows, Roof Rail, Windshield, Trunk
Subsegments:
1) By Ethylene Propylene Diene Terpolymer Membrane (EPDM) Rubber: EPDM Rubber Seals For Door Frames, EPDM Rubber Window Seals, EPDM Rubber For Roof And Windshield Seals, EPDM Rubber For Trunk And Tailgate Seals
2) By Polyvinyl Chloride (PVC) Rubber: PVC Rubber Seals For Exterior Trim, PVC Rubber For Door And Window Sealing, PVC-Based Weather Strips For Sealing Joints
3) By Thermoplastic Elastomer Or Rubber (TPE): TPE Weather Strips For Doors And Windows, TPE Seals For Trunk And Tailgate, TPE-Based Molded Weather Strips For Vehicle Frames, TPE Seals For Automotive Exterior And Interior Parts
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Which regions are key players in the growth of the automobile weather strip market?
Asia-Pacific was the largest region in the automobile weather strip market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automobile weather strip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the automobile weather strip market?
Major companies operating in the automobile weather strip market are 3M Company, Hutchinson SA, Toyota Boshoku Corporation, Akzo Nobel N.V., The Freudenberg Group, Toyoda Gosei Co. Ltd., REHAU Industries SE & Co. KG, Trelleborg AB, MINTH Group Ltd., Cooper Standard, Anhui Zhongding Sealing Parts Co. Ltd., Standard Profil Group, TPR Co. Ltd., HWASEUNG GROUP, Nishikawa Rubber Co. Ltd., Kinugawa Rubber Industrial Co. Ltd., CQLT SaarGummi Technologies S.à r.l., KACO GmbH, Henniges Automotive Holdings Inc., PPAP Automotive Limited, Hebei Shida Seal Group Co. Ltd., CGR Products, Canada Rubber Group Inc., Bohra Rubber Pvt. Ltd., Lauren International Ltd.
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What Is Covered In The Automobile Weather Strip Global Market Report?
•Market Size Forecast: Examine the automobile weather strip market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automobile weather strip market for a structured understanding.
•Key Players Overview: Analyze major players in the automobile weather strip market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automobile weather strip market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automobile weather strip market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automobile weather strip market.
•Industry Challenges: Identify potential risks and obstacles affecting the automobile weather strip market.
•Competitive Landscape: Review strategic developments in the automobile weather strip market, including expansions, agreements, and new product launches.
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