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Automotive Decorative Exterior Trim Market Size

Report ID: GMI2298
Published Date: Oct 2024
Report Format: PDF

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Automotive Decorative Exterior Trim Market Size

The global automotive decorative exterior trim market size was valued at USD 16.4 billion in 2023 and is estimated to register a CAGR of 4.8% between 2024 and 2032. The growth of the market can be attributed to the robust growth of the global automotive industry owing to the increasing vehicle sales in emerging as well as developed markets.

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According to the International Organization of Motor Vehicle Manufacturers, the global passenger cars sales increased from 58.6 million in 2022 to 65.3 million in 2023 witnessing a growth of over 11%. As manufacturers ramp up production to meet rising consumer demand, the need for decorative exterior trims becomes essential for enhancing vehicle aesthetics and differentiation. This trend is more prominent in regions such as Asia Pacific and North America, where automotive manufacturing is on the rise.

Automotive Decorative Exterior Trim Market Report Attributes
Report Attribute	Details
Base Year:	2023
Automotive Decorative Exterior Trim Market Size in 2023:	USD 16.4 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	4.8%
2032 Value Projection:	USD 24.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	175
Tables, Charts & Figures:	200
Segments covered:	Material, Vehicle, Application, Sales Channel
Growth Drivers:	Rising consumer demand for vehicle personalization Technological advancements in manufacturing Growth of the aftermarket segment Growing automotive industry across the globe
Pitfalls & Challenges:	Economic downturns Supply chain disruptions

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The automotive industry is experiencing a major shift due to changing consumer preferences, particularly in vehicle customization and personalization. This change reflects broader trends in consumer behavior, lifestyle, and technology. Consumers now see their vehicles as extensions of their identity and style. This desire for uniqueness drives the demand for decorative trims such as unique grilles, distinctive bumpers, and personalized moldings. Buyers want components that match their aesthetic preferences and lifestyle.

In response, manufacturers are offering more design options. Automakers are offering extensive trim packages, allowing buyers to choose specific designs, colors, and materials for their decorative trims. This level of personalization enhances the ownership experience and encourages customers to invest in additional trim options that reflect their preferences.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive decorative exterior trim reached USD 16.4 billion in 2023 and is set to grow at a 4.8% CAGR from 2024 to 2032, driven by the robust expansion of the global automotive industry and rising vehicle sales in both emerging and developed markets.

The passenger cars segment held a market share of around 70% in 2023 and is expected to exceed USD 15 billion by 2032 as consumers increasingly value individuality, driving the demand for customized passenger cars.

The plastic segment held a market share of around 39% in 2023 due to its lightweight properties, which enhance fuel efficiency and reduce emissions, making it a cost-effective option for manufacturers.

The Asia Pacific market accounted for 40% of the revenue share in 2023 and is driven by growing urbanization, increased vehicle ownership among the middle class, and a push for electric vehicles promoting innovations in vehicle design and trims.

The industry features key players such as Adler Pelzer, CIE Automotive, Flex-N-Gate, Magna International, Motherson Group, Plasman, Rehau Automotive, SRG Global, Toyoda Gosei, and Yanfeng.