Automotive Decorative Exterior Trim Market: Expected To Create Lucrative Opportunities For The Global Market
Automotive decorative exterior trim is an additional object or item added to the exterior of an automobile or vehicle to increase the esthetic appeal of the vehicle. Various types of exterior trims available for vehicles such as door handle trim, bumper cover, logo, and stickers. The key reason to utilize a decorative exterior trim is to protect the vehicle from any unwanted damage that can occur from the surroundings of the automobile such as from other vehicles. Furthermore, exterior trims can be employed to enhance the esthetic appeal of the vehicle by applying different types of trims. The automotive decorative exterior trim accommodates several features such as prevention from scratches, damages, and others.
The global automotive decorative exterior trim market is expanding at a significant pace, as the automotive sector is expanding at a considerable pace and some prominent players in the automobile market are enhancing their production capacities. Rise in demand for luxury and high-performance vehicles is also anticipated to fuel the automotive decorative exterior trim market during the forecast period.
Technological enhancements in the automobile sector allows manufacturers to carry out research and development and create advanced, safe, and better exterior trims for the vehicle. Volatility in the price of the product depends on the precision and material used for manufacturing the trim. Labor cost is a key factor that is expected to restraint the automotive decorative exterior trim market during the forecast period.
The global automotive decorative exterior trim market can be segmented based on application, material, vehicle type, sales channel, and region. Based on application, the automotive decorative exterior trim market can be bifurcated into windows, door upper trim, around lamp, and others. Based on material, the automotive decorative exterior trim market can be bifurcated into carbon fiber, aluminum alloy, steel and others. Based on vehicle type, the automotive decorative exterior trim market can be split into passenger vehicle and commercial vehicle.
The passenger vehicle segment is expected to expand during the forecast period due to the rising demand for passenger vehicles across the globe. Based on sales channel, the market can be classified into OEM and aftermarket. In automotive decorative exterior trim market, manufacturers are anticipated to produce light and durable products or trims for long-lasting performance. This is a major factor that is anticipated to drive the automotive decorative exterior trim market in the near future. Based on region, the global automotive decorative exterior trim market can be segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
Asia Pacific is expected to witness high demand for automotive decorative exterior trims during the forecast period, owing to increasing per capita income of the general population in the region. Europe holds a major share of the global automotive decorative exterior trim market, owing to the presence of major OEM players in the region. Europe, North America, and Asia Pacific are expected to account for more than half the share of the global automotive decorative exterior trim market during the forecast period due to the presence of major OEMs in these regions.
Major players operating in the global automotive decorative exterior trim market include Altuglas International, CIE Automotive, Autoneum, DURA AUTOMOTIVE SYSTEMS, IAC Group, SRG Global, Inc, Trinseo, Takata Corporation, National Plastic Technologies Ltd., Tajco, TK Holdings, Inc., Toyota Boshoku Corporation, TS Tech Co., Ltd., 3M, Agape Plastics, Grand Traverse Plastics Corp., Ningbo Huaxiang, Cascade Engineering, Douglas Corporation, DRS Industries, Flex N Gate, Lacks Enterprises, Inc., Anchor Manufacturing Group, and American Nickeloid Company.