DUBAI, U.A.E, July 23, 2020
DUBAI, U.A.E, July 23, 2020 /PRNewswire/ -- According to Future Market Insights, the automotive exterior trim parts market is expected to be valued at US$ 30.3 Bn by 2030-end.
The need for light-weight materials has radically transformed automotive exterior trim parts manufacturing, with the introduction of light plastics. These have not only assisted in weight reduction but also provide resistance to hostile weather conditions and reduction in fuel emissions.
Some of the plastics used for this purpose are thermoplastic olefins, polyamides, polypropylene and polyesters. Besides offering the aforementioned advantages, these plastics are recyclable, thus enabling manufacturers to improve their environmental footprints. Additionally, the incorporation of hybrid materials using a combination of plastic and steel in exterior trim parts to provide greater structural strength and cost-savings is boding extremely well for the market.
"Automotive exterior trim parts manufacturers are leveraging digital platforms to deepen market penetration, along with enhanced mobility solutions, ushering in consummate changes in market dynamics," infers an FMI analyst.
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Key Takeaways from FMI's Automotive Exterior Trim Parts Report
Automotive Exterior Trim Parts Market- Key Trends
Automotive Exterior Trim Parts Market- Region-wise Analysis
Automotive Exterior Trim Parts Market- Competitive Landscape
Market players are relying on several strategies to augment their market presence. Majority of the players concentrate on acquisitions and product innovations to remain afloat. There are less entry barriers, thus rendering the landscape fairly fragmented.
Mergers & Acquisitions constitute a major chunk of market expansion strategies. For instance, Johnson Controls collaborated with HASCO in China to provide exterior trim parts to automobile behemoths such as Ford, Mercedes-Benz, BMW and GM. Additionally, the entry of foreign players and usage of sustainable raw materials is also driving the market towards a positive direction.
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Automotive Exterior Trim Parts Market Taxonomy
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Find More Valuable Insights on Automotive Exterior Trim Parts Market
FMI in its new market research study, offers an unbiased analysis of the automotive exterior trim parts market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global automotive exterior trim parts market through four different categories – By Product Type, By Vehicle Type, By Sales Channel and region. The global automotive exterior trim parts market study provides information of pricing by different life cycle analysis, product life cycle, key market trends and technologies which are being implemented in the production of the automotive exterior trim parts and product adoption in varied end use industries.
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