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Automotive Decorative Exterior Trim Market Trends

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

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Automotive Decorative Exterior Trim Market Trends

Innovations in materials science are transforming the automotive decorative exterior trim industry. The use of lightweight, durable, and sustainable materials such as advanced plastics, carbon fiber, and bio-based composites improves both the functionality and look of trims. These materials enhance vehicle performance and efficiency while allowing manufacturers to meet consumer design preferences. Additionally, changing automotive design trends are influencing the trim market. As vehicles become sleeker and more aerodynamic, trims that complement these designs are essential. The demand for distinctive features including bold grilles, integrated lighting, and refined moldings drives manufacturers to develop attractive trim solutions.

Companies operating in the market are focusing on enhancing their trim. For instance, in September 2024, Zanini Auto Group, a specialist in automotive exterior trim, licensed TactoTek's in-mold structural electronics (IMSE) technology. This agreement allows Zanini to supply electromagnetic transparency and backlighting solutions to its automotive clients. Zanini is known for its expertise in wheel trim and has also expanded its capabilities in radomes. IMSE technology enhances trim with electronic features such as lighting and sensors. IMSE incorporates electronic components into injection-molded plastics, enabling various lighting techniques in thin, seamless parts.

Economic instability often reduces consumer spending, making vehicle customization less important for many buyers. During recessions or financial crises, consumers usually focus on essential purchases instead of non-essential items such as decorative trims. This change can lead to lower sales for manufacturers and retailers in the decorative trim market, affecting their overall revenue and profitability.

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.