Press release
Automobile Weather Strip Market Expansion Outlook: $14.48 Billion in 2029
Automobile Weather Strip Market
What Is the Projected CAGR for the Automobile Weather Strip Market from 2024 to 2025?
In the past few years, the size of the car weather strip market has seen steady expansion. It is anticipated to rise from $11.94 billion in 2024 to $12.36 billion in 2025, marking a compound annual growth rate (CAGR) of 3.6%. The increase during the historical period can be credited to factors such as heightened aftermarket sales, escalating disposable incomes, an intensified focus on automotive safety, increasing understanding of preventive upkeep, and the burgeoning ride-sharing sector.
What are the Expected Market Size and CAGR for Automobile Weather Strip by 2029?
Over the forthcoming years, the market size of the automobile weather strip is poised for consistent expansion. It is projected to escalate to a value of $14.48 billion by 2029, following a Compound Annual Growth Rate (CAGR) of 4.0%. This growth during the forecast period can be linked to the surge in vehicle production, increased demand for electric vehicles, improved aesthetic appeal and comfort of vehicles, growth of the luxury car segment, and rising consumer inclination towards personalized vehicles. Foreseen trends for the forecast period consist of advancements in material and manufacturing techniques, collaborations and partnerships among Original Equipment Manufacturers (OEMs), infrastructural development, escalation in research and development investments, and application of 3D printing technology in the production of weather strips.
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Which Factors Are Driving the Global Automobile Weather Strip Market Expansion?
The forward-going expansion of the automobile weather strip market is anticipated to be driven by predicted growth in the automotive industry. The latter is a wide-ranging sector involving various companies and organizations that partake in designing, developing, manufacturing, marketing, and selling motor vehicles. Factors such as heightened consumer preferences for electric vehicles, technological progression, and expanding urbanization which boosts vehicle sales, stimulate the automotive industry's growth. Serving key roles that boost vehicle performance and passenger comfort, automobile weather strips are critical elements within the industry. For instance, a study by the Belgium-based standard group, European Automobile Manufacturers Association revealed that global new car sales saw nearly 10% growth in March 2024 after stabilization in 2022. EU sales spiked close to 14%, concluding at a total of 10.5 million units. Also, new battery-electric car sales surged by 37%, securing a 14.6% share of the market, while global car production climbed to 76 million units, representing a significant 10.2% increase. Consequently, the expansion of the automotive industry is fuelling the growth of the automobile weather strip market.
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Which Segment Currently Holds the Largest Share of the Automobile Weather Strip Market?
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), After market
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
Which Major Trends Are Shaping the Future of the Automobile Weather Strip Industry?
Leading businesses in the automobile weather strip sector are concentrating on the development of novel technologies like hot-stamping to enhance both aesthetic appeal and sealing performance. Hot-stamping is a fabrication procedure that entails the application of metallic or colored foils to a surface through the use of heat and pressure, leading to both functional and decorative outcomes. Toyoda Gosei Co. Ltd., a Japanese firm known for its expertise in manufacturing plastic and rubber components for vehicles including weather strips, rolled out a front grille in October 2023. This product, equipped with a remarkable hot-stamping technology, is showcased in the new Lexus LM model. Noteworthy is the product's innovative foil technology that dismisses the need for a protective top layer to guard against ultraviolet rays and weathering. Using an advanced understanding of plastic materials, the firm has introduced a foil layer that is thicker and more resistant to weather, maintaining the durability of previous products. This advancement has not only led to a 20% reduction in CO2 emissions during the manufacturing process but also aids in resource conservation by obviating the requirement for a top coat application.
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Which Key Players Dominate the Automobile Weather Strip Industry Globally?
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.
What Are the Fastest-Growing Regions in the Automobile Weather Strip Market?
Asia-Pacific was the largest region in the automobile weather strip market in 2024. 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.
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