Automotive Trim Parts Market
Global Market Study on Automotive Trim Parts: Passenger Cars to Remain Largest End Use by Far
Automotive Trim Parts Market Segmented By Exterior Trim Parts, Interior Trim Parts Product with Acrylonitrile Butadiene Styrene, Polypropylene, Thermoplastic Elastomer Material
As per Persistence Market Research’s industry analysis on automotive trim parts, the market is witnessing steady growth in 2021 with worldwide revenue up 3.8% year-on-year. Revenue across the world is projected to increase 1.5X by 2031, reaching nearly US$ 57.9 Bn.
Europe and East Asia are set be the lucrative market for trim part manufacturers, rising at around 3.5% and 4.7% CAGRs, respectively, and capturing more than 55% share of the global market.
Find Out More about the Report Coverage
- Continental AG
- Toyota Boshoku Corp
- Toyoda Gosei Corp
- Magna International Inc.
- Grupo Antolin
- Eissmann Automotive Group
- Compagnie Plastic Omnium
- Machino Plastics Ltd.
- Futaba Industrial CO. Ltd
- Adient Plc
- Inteva Products LLC
- Draexlmaier Group
- Kasai Kogyo Co. Ltd
- Hayashi Telempu
- Samvardhana Motherson
Key Points Covered in Automotive Trim Parts Industry Survey:
- Market Estimates and Forecasts 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Unit Sales Irrespective of OEM and Aftermarket
- Assessment by Vehicle Category / Technology and Sales Channel
- Assessment of OEM, OES, and IAM Price
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Demand for Automotive Trim Parts and How to Navigate
- Recommendation on Key Winning Strategies
Customize this Report
Explore Intelligence Tailored to Your Business Goals.
Sales Analysis of Automotive Trim Parts from 2016 to 2020 Vs Market Outlook for 2021 To 2031
From 2016 to 2020, sales of automotive trim parts declined by 1.1% due to automobile production decreasing year-over-year during the same period. This was more so in 2020 due to the onset of the COVID-19 pandemic.
However, lately, the trim parts market has been growing due to many factors such as increasing global sales of passenger cars like sedans and convertibles. Growth in sales of passenger cars has surged demand for interior & exterior trim parts. Use of trim parts in the automotive industry for vehicles as well as for industrial machines is set to rise over the coming years.
Several new features of automotive trim parts such as decreasing overall weight of vehicle by using fiberglass components are likely to attract more automobile companies, which is a driving demand and sales of automotive trim parts. Companies around the world are focusing on new product development of trim parts.
Considering this, demand for automotive trim parts is forecast to expand at a healthy CAGR of 4% over the coming 10 years.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
What are the Key Opportunities on Offer for Automotive Trim Part Manufacturers?
Demand and sales of passenger cars is increasing since 2010 due to increase in the global population and also due to high disposable income in many developing countries. Manufacturers are focusing on providing consumer-centric components by customizing interior & exterior trim parts as per customer request. Major players are focusing on collaborations and partnerships as a strategy to increase their product portfolios as well as their global presence.
Increase in development of technology is also an excellent growth opportunity for automotive trim part manufacturers. They are also maintaining strong relationships with suppliers to increase their business.
Explore Persistence Market Research’s expertise in promulgation of the business !
What are the Roadblocks that Automotive Trim Part Suppliers Face?
Manufacturers use many different techniques that are technologically advanced to produce trim parts. Compression molding, plastic thermoforming, and twin sheet molding are some of the processes that are used to manufacture trim parts. These production processes require high-quality labor, and manufacturers incur increased costs for these large tools.
The biggest disadvantage of the compression molding process is that, if handled poorly, trim part moulds can get damaged as the blanks of materials for automotive trims need to be loaded and unloaded manually. This is also a factor that can restraint market progress to some extent.
Which Recent Trends are Impacting Demand for Automotive Trim Parts?
Manufacturers are investing in research & development activities of new product development for automotive trim components. Manufacturers are focusing on innovations of specific materials that are used to make trim parts. Materials such as iron, aluminium, rubber, plastic, and fiberglass are used to make automotive parts that are durable and sturdy.
Materials such as polypropylene and acrylonitrile butadiene styrene are used to produce trim parts that are lightweight and reduce the overall weight of components. They provide a shiny and rough exterior to the vehicle, and also make the interiors more comfortable. These lightweight materials also make the vehicle fuel-efficient.
Manufacturers are also collaborating with other automotive companies to increase the sales of trim parts as well as increase their overall geographic presence. Companies that make these parts are also using different e- Commerce platforms to increase their sales.
Why are Automotive Trim Part Manufacturers Eyeing China?
East Asia is predicted to remain one of the most gainful markets for automotive trim parts during the forecast period, according to Persistence Market Research. According to the study, China is expected to account for over 69% of the East Asia market through 2031.
China is projected to play a key role in promoting industry growth through its extensive production capacity in the automotive sector. China exports many automotive components to different countries and other OEMs in North America and Europe. China has a strong aftermarket for trim parts as many manufacturers use online platforms to sell their parts on legit e-Commerce websites, which is an important factor increasing sales of these parts in China.
Why is the Demand for Automotive Trim Parts Increasing in Germany?
Germany is expected to hold 25.2% market share by 2031. Germany has many manufacturers that produce automotive parts that supply many OEMs and tier- 1 companies.
According to Persistence Market Research, Europe is one of the most leading markets for automotive trim parts. Increase in number of facilities by manufacturers in lucrative regions is boosting the market for trim parts in Europe. Increase in demand for electric vehicles in Europe is also a boosting factor for the growth of the trim parts industry in the region.
Will Demand for Automotive Trim Parts in India Rise?
India is set to be a lucrative market for automotive trim parts over the coming years. By 2031, it is expected to account around 56% trim part sales in South Asia Pacific.
The automotive sector in India experienced a major decline in sales of passenger cars in 2020 as compared to previous years. But the Indian automotive industry is recovering in terms of sales, as the manufacturing facilities have resumed their operations. The Indian automobile market has robust growth prospects and is estimated to grow exponentially, thereby driving demand for trim parts.
Which Product Holds the Highest Growth Potential for Automotive Trim Parts?
Based on product, interior trim parts is a leading category, and is expected to account for nearly 52% market share by the end of 2031.
Interior trim parts constitute door trims, door panels, instrument panels, headliners, and other parts, whose primary purpose is to make the inside of the car comfortable and increase its aesthetics. These parts not only increase the aesthetics of the vehicle interiors but they also insulate the car and trap heat and prevent the roof from damage.
Which Type of Material is Most Used in Automotive Trim Parts?
Based on material, polypropylene has the highest use for making trim parts, and is expected to account for over 38% market share by the end of 2031.
Polypropylene material is used on a large scale to make automotive parts, as it is light in weight and one of the most cost-effective materials. Use of this material is very common in the automotive industry as well as in industrial applications. The material has high insulation property and is robust and durable, which is why, it is used on a large scale to make trim parts such as bumpers, instrument panels, door trims, and other interior parts.
Why is Demand for Trim Parts in Passenger Cars the Highest?
Based on vehicle, the passenger cars segment has the highest consumption of trim parts, and is expected to contribute maximum revenue share of around 82% in the market by 2031.
67 million cars were produced in 2019 globally, but the industry experienced a decline in production and sales due to COVID-19 pandemic across the globe. It is projected that production and sales of passenger cars will bounce back and demand for automotive trims will rise going ahead.
Exterior and interior parts such as bumpers, radiator grilles, instrument panels, and headliner parts are used in passenger cars, and their primary purpose is to provide comfort.
What is the Impact of COVID-19 on Demand for Automotive Trim Parts?
The automotive industry faced major decline in revenue due to the COVID-19 pandemic due to lockdowns in many major cities across the world. Consumer demand during lockdowns declined due to loss of confidence, which impacted the revenue and profitability of manufacturers on a global level.
Suppliers and manufacturers faced liquidity issues due to deteriorating market conditions in the automotive industry. As many manufacturing facilities were closed, manufacturers experienced a decline in production of passenger cars, which also impacted the automotive trim parts market. However, with markets opening up, demand for trim parts is set to rise steadily over the coming months and years.
The global automotive trim parts market is competitive in nature, with the presence of numerous leading players operating in the landscape. Major players are taking steps to expand their business and overall market share by collaborating with other companies to increase their customer base. They are investing in start-ups to leverage any latest technologies that are used in the automotive manufacturing industry.
During the forecast period, manufacturers are expected to expand their presence through partnering with other. Manufacturers are setting up new production plants to increase their production capacity of automotive components and increase their sales as well as customer base.
- In March 2021, Adient Plc, a manufacturer interior trim parts, entered into an agreement with Yanfeng Automotive Trim Systems Ltd. in China. This venture will help the company in expanding its business segments.
- In Jan 2021, Toyoda Gosei Co. Ltd. established a new plant in Miyagi, Japan, for the production of exteriors & interiors, to increase its production capacity of automotive trim products.
- In Nov 2020, Toyota Boshoku, a manufacturer of interior & exterior trim components, opened its new global headquarters in Kariya, Japan, to accelerate its global growth strategy of collaborating and strengthening its business foundation.
Automotive Trim Parts Market Report Scope
Historical Data Available for
USD Million for Value
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Customization & Pricing
Available upon Request
Key Segments Covered in Automotive Trim Parts Industry Research
- Exterior Trim Parts
- Weather Strips
- Radiator Grilles
- Fuel Filler Caps
- Interior Trim Parts
- Door Panels
- Door Trims
- Instrument Panels
- Trunk/Tailgate Trims
- Sun Visors
- Trim Parts for Passenger Cars
- Trim Parts for Light Commercial Vehicles
- Trim Parts for Heavy Commercial Vehicles
- Acrylonitrile Butadiene Styrene (ABS) Automotive Trim Parts
- Polypropylene (PP) Automotive Trim Parts
- Thermoplastic Elastomer (TPE) Automotive Trim Parts
By End Use
Enquiry before Buying
- Is the market research conducted by Persistence Market Research?
Yes, the report has been compiled by expert analysts of Persistence Market Research, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
- What research methodology is followed by Persistence Market Research?
Persistence Market Research follows a methodology that encompasses the demand-side assessment, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
- Who are the respondents for primary research?
Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
- What are the sources of secondary research?
Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
- Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.
- How can I buy this report?
Persistence Market Research provides a secure online payment system to buy reports seamlessly. You can buy the report securely and safely.