Automotive Trim Market

The global automotive trims market had a value of $25.68 billion in 2019 and is anticipated to reach $43.35 billion by 2030, with a compound annual growth rate (CAGR) of 6.9%. The Asia-Pacific region contributed the highest revenue, accounting for $7.53 billion in 2019 and is projected to reach $13.21 billion by 2030, with a CAGR of 7.4%. Asia-Pacific and Europe together held a market share of approximately 53.5% in 2019, with Asia-Pacific accounting for around 29.4% of the share.

Automotive trims refer to the plastic components installed in vehicles to enhance their appearance and features. These trims, which include components like front and rear bumpers and dashboards, highlight the unique characteristics of the vehicle. Automotive component manufacturers have introduced lightweight and durable trims made of various polymers, which find wide application in automobiles, driving the growth of the global automotive trim market.

The market is driven by factors such as the increasing demand for luxury and comfort in vehicles and the growth in vehicle production. However, challenges such as high replacement costs and the impact of trade wars and automotive import tariffs are expected to restrict the growth of the automotive trims market during the forecast period. On the other hand, the rising demand for lightweight components and the untapped potential of developing markets provide promising opportunities for market growth, creating favorable prospects for industry players in the near future.

By Material Type:
The automotive trims market is divided into different material types, including acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyoxymethylene (POM), thermoplastic elastomer (TPE), and others. Interior applications consist of various components such as dashboards, door panels, and others. Exterior components include bumpers, window & door seals, and others. The market also encompasses different vehicle types, such as ICE passenger vehicles, ICE commercial vehicles, battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). Original equipment manufacturers (OEMs) and the aftermarket are the two main end users. The market's geographical analysis covers North America, Europe, Asia-Pacific, and LAMEA regions.

By Interior Applications:
Key players in the global automotive trim market, including Draexlmaier Group, Dura Automotive Systems Inc., Gemini Group, Inc., GRONBACH, Grupo Antolin, International Automotive Components, Kasai Kogyo Co., Ltd., STS Group, Toyota Boshoku Corp., Trinseo, and TS Tech Co. Ltd., contribute to the market's growth by catering to the increasing demand for luxury and comfort in vehicles. The sale of luxury cars is expected to double by 2020, driven by technological advancements and economic growth in developing countries. Additionally, to ensure comfort and reduce cabin vibrations, vehicles must meet defined standards for noise, vibration, and harshness (NVH) performance. These factors collectively contribute to the expansion of the global automotive trim market.

By Exterior Applications:
The automotive industry has witnessed robust growth in various countries, leading manufacturers to shift their production facilities to developing countries due to increased demand for automobiles and automotive components. Lower labor costs in these regions further reduce production expenses, enabling manufacturers to meet the rising demands and boost vehicle sales during the forecast period. Additionally, decreasing prices of electric vehicle parts, such as batteries, transmissions, and alternators, are expected to drive the sales of such vehicles, contributing to the growth of the global automotive trim market.

By Vehicle Type:
The high replacement cost of various vehicle components poses a challenge as continuous replacements become financially impractical. To address this, vehicle manufacturers are installing stronger and more durable components that can withstand various conditions while remaining cost-effective. The addition of premium features incurs additional expenses for consumers, affecting market growth. Moreover, the serviceability of such vehicles is complex and requires skilled workers due to multiple components and sensors, reducing the overall service life of the vehicles. The high replacement cost may negatively impact the growth of the global automotive trim market.

By End-use:
Advancements in the automotive industry have led to the development of lightweight materials, such as carbon fiber and various polymers, for trim components. These materials offer benefits like low weight, high specific stiffness, corrosion resistance, intricate shape production, high specific strength, and high impact energy absorption. The demand for fuel-efficient vehicles and the implementation of stringent vehicular emission regulations drive the adoption of automotive lightweight materials, creating lucrative growth opportunities for the automotive trim market in the future.

Key Benefits for Stakeholders:
• This study provides an analytical overview of the global automotive trim market, including current trends and future estimations, to identify potential investment opportunities.
• The report helps stakeholders understand profitable trends in order to establish a stronger market position.
• Information regarding key drivers, restraints, and opportunities in the global automotive trim market is presented, along with a detailed impact analysis.
• The financial competency of the current automotive trim market is benchmarked from 2019 to 2030 through quantitative analysis.
• Porter's five forces analysis demonstrates the power of buyers and suppliers in the industry.

Automotive Trim Market Report Highlights
By Material
• Acrylonitrile Butadiene Styrene (ABS)
• Polypropylene (PP)
• Polyoxymethylene (POM)
• Thermoplastic Elastomer (TPE)
• Others

By INTERIOR APPLICATIONS
• Dashboard
• Door Panel
• Others

By EXTERIOR APPLICATIONS
• Bumpers
• Door & Window Seals
• Others

By VEHICLE TYPE
• ICE Passenger Vehicle
• ICE Commercial Vehicle
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)

By End Use
• Original Equipment Manufacturers (OEMs)
• Aftermarket

By Region
• NORTH AMERICA  (U.S, Canada, Mexico)
• Europe  (Germany, France, UK, Italy, Rest of Europe)
• Asia-Pacific  (Japan, China, India, South Korea, Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle-East, Africa)

Key Market Players
Grupo Antolin, GRONBACH, STS Group AG, TS TECH CO.,LTD., TOYOTA BOSHOKU CORPORATION, Gemini Group, Inc., KASAI KOGYO CO., LTD, DURA AUTOMOTIVE SYSTEMS, DRAXLMAIER Group, Trinseo, IAC Group (International Automotive Components)