Automotive Exterior Trim Parts Market: Trimming for Lightweighting

Jul 20,2020 | Automotive

Future Market Insights, an ESOMAR certified market research firm, in its latest study on the automotive exterior trim parts opines that the market will reach a valuation of US$ 30.3 Bn by the end of the year 2030.

Automotive Exterior Trim Parts Market

Future Market Insights published its recent market research report on the global automotiv...

Automotive Exterior Trim Parts Market

Newer trends such as embedding of cutting-edge connectivity systems in exterior body parts of vehicles, with weight reduction will continue to give an uptick to body aesthetics in the market for automotive exterior trim parts.

Key Takeaways of Automotive Exterior Trim Parts Market

  • Achieving light-weighting by 40%, aluminum in body panels to remain preferred over steel
  • With 54% volume share in automotive production in 2018, China, India and Australia will  witness high demand for automotive exterior trim parts
  • A drop by 200-250 BPS is anticipated for the market amidst the ongoing pandemic with recovery anticipated in the first quarter of 2022
  • High focus on aesthetics in the mid-size passenger car segment to give traction to sales

Recyclable and Lightweight Materials Finds its Takers

Sustainability and light-weighting are key focal points by manufacturers for design of exterior trim parts.

Aludium, a European midstream aluminum manufacturer has introduced a highly cost-effective exterior trim called as the 55AT that gives a high-end aluminum finish to window frames, roofs and other decorative parts of the vehicle. During casting Aldium uses an advanced filtration system that not only anodises but also brightens the external trim of the vehicle. These products are also provided in very short lead times.

Similarly Norsk Hydro, a Norwegian aluminum manufacturer has launched its CIRCAL range of products that are being made with recycled aluminum scrap. By using very advanced sorting processes the aluminum being used is not only sophisticated but also contains 75% recycled consumer scrap. This has enabled the company to maintain its carbon footprint in the market.

Automakers Suspend Operations to Keep COVID-19 at Bay

The first quarter of 2020 saw OEMs and manufacturers scrambling to keep production lines for automotive parts up and running as the virus took its hold in Asia and many parts of Europe and North America.

With government advisories being issued, parts and component facilities started to be shuttered at various countries around the world. A dip in discretionary spending and reduced customer footfalls have dampened demand for automotive exterior parts considerably.

While asset impairments are predicted in the near-term. For the time being, quarantine measures, just in time production and reduced workforce is helping manufacturers to obviate the liquidity crunch due to decrease in sales.

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.

About the Automotive Division of FMI

The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

About the Automotive Division of FMI

The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.