The Asia Pacific Automotive Trim Market would witness market growth of 7.0% CAGR during the forecast period (2023-2029).
Exterior trims provide several advantages, including dependability, protecting cars from severe damage, and being widely available. The external trim demand for the automotive industry is projected to expand due to technological developments, design, material developments, and cost-saving measures aimed at improving vehicle efficiency. In addition, the external trim for the automobile industry is projected to benefit financially from increased rivalry among automakers due to consumer awareness and the need to deliver a more affordable, dependable, and improved product.
Using PVC or TPO skins is one of the market's fastest-growing trends in automotive interior trim. Because of their excellent advantages, such as a lengthy lifecycle, increased sustainability, and design freedom, these skins are growing in popularity. TPO (thermoplastic polyolefin) and PVC (polyvinyl chloride) are the substrates that create scratch-resistant skins for the various interior trim pieces of a car, such as the dashboards and instrument panels. Despite the advantages, PVC-TPO skins have several important bonding issues that call for a high-performance reactive hot-melt adhesive solution.
The Indian economy's main pillar is the automobile sector. It is a significant growth engine with strong forward and backward linkages. The automobile industry has grown due to the deliberate governmental interventions and liberalization that have taken place over the last few years. These actions have produced a dynamic, competitive market and numerous new companies. Because of this, the sector's share of the national GDP increased from 2.77 percent in 1992–1993 to about 7.1 percent in 2014–15.
The China market dominated the Asia Pacific Automotive Trim Market by Country in 2022; thereby, achieving a market value of $4,442 million by 2029. The Japan market would exhibit a CAGR of 6.3% during (2023 - 2029). Additionally, The India market would register a CAGR of 7.6% during (2023 - 2029).
Based on Material, the market is segmented into Polypropylene (PP), Polyoxymethylene (POM), Acrylonitrile Butadiene Styrene (ABS), Thermoplastic Elastomer (TPE) and Others. Based on Application, the market is segmented into Exterior and Interior. Based on Exterior Type, the market is segmented into Bumpers, Door & Window Seals and Others. Based on Interior Type, the market is segmented into Dashboard, Door Panel and Others. Based on End Use, the market is segmented into OEM and Aftermarket. Based on Vehicle Type, the market is segmented into ICE Passenger Vehicle, ICE Commercial Vehicle, Hybrid Electric Vehicle (HEV), Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV). Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive Trim Market is Projected to reach USD 41.6 Billion by 2029, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include International Automotive Components (IAC) Group, Continental AG, Fritz Dräxlmaier GmbH & Co. KG, Gemini Group, Inc., TS TECH Co., Ltd., Gronbach Inventive Sales & Marketing GmbH & Co KG, Grupo Antolin Irausa, S.A., Kasai Kogyo Co., Ltd., Toyota Boshoku Corporation, Trinseo PLC.
By Material
By Application
By End Use
By Vehicle Type
By Country
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