- Innovations in lightweight materials for automotive components that help boost fuel efficiency of vehicles to propel the automotive fascia market
- Efforts to develop superior materials for automotive fascia for elegant and sophisticated exterior of vehicles to drive the automotive fascia market
ALBANY, N.Y., Feb. 28, 2022 /PRNewswire/ -- The automotive fascia market is projected to register a CAGR of 5.8% during the forecast period from 2021 to 2031. The expanding use of lightweight materials in order to increase fuel efficiency of vehicles is leading to product and design innovations of automotive components, including automotive fascia components. This propels the automotive fascia market.
Automotive fascia refers to components located at the front and rear of vehicles that provide an appearance to the exterior design. Consumer inclination toward elegant and sophisticated exterior of vehicles implies the significance of automotive fascia for such appearance. This is leading automobile manufacturers to invest in the development of superior material for automotive fascia, which, in turn, is fueling the growth of automotive fascia market.
Asia Pacific is a key region in the automotive fascia market, and anticipated to be at the forefront during the forecast period. Presence of some large automobile manufacturers and robust sales of vehicles in the region due to economic growth strengthen the expansion of the automotive fascia market in the region.
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Automotive Fascia Market - Key Findings of Report
- Exponential rise in vehicle ownership with economic growth and increase in purchasing capacity of consumers are driving the automotive fascia market
- Enforcement of stringent vehicle emission control laws that necessitate manufacture of lightweight vehicles is increasing the demand for lightweight fascia for vehicles. Prospects of solid demand for electric vehicles to reduce the carbon footprint of fossil fuel vehicles to cement growth in the automotive fascia market.
- Initiatives of electric vehicle manufacturers to introduce lightweight materials in their vehicles to expand vehicle range are creating opportunities in the automotive fascia market
- Emergence of small-size and medium-size manufacturers of automotive components including automotive fascia stimulates growth of automotive fascia market
- Non-metal material segment led the automotive fascia market in 2020 vis-à-vis volume and revenue. ABS and polypropylene are widely used non-metal material in the manufacture of automotive fascia due to their lightweight and are heat resistant properties.
- OEM sales channel holds the leading share in the automotive fascia market. Lifespan of automotive fascia is equal to that of the vehicle, and thus compels OEM to create long-lasting products.
- Strong practice of automotive giants to engage in mergers and acquisitions with small- and medium-sized automotive component manufacturers helps to develop novel material for automotive fascia
- Large oil & gas companies with petroleum-derived synthetic polymers such as plastic and polypropylene are engaging in strategic partnership with small players to design and develop new materials for automotive fascia
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Automotive Fascia Market - Growth Drivers
- Emphasis on elegant and sophisticated exterior of vehicles for panache drives the automotive fascia market
- Initiatives to develop innovative lightweight automotive components to help reduce the overall weight of vehicles that helps with emission control fuels the growth of automotive fascia market
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Automotive Fascia Market - Key Players
Some of the key players operating in the automotive fascia market are;
- Plastic Omnium Co
- MRC Manufacturing Inc.
- Magna International Inc.
- Ventra Ionia LLC
- MOBIS Georgia LLC
- Eakas Corporation
- Flex-N-Gate Corp
- Revere Plastics Systems LLC
- Sanko Gosei Technologies USA Inc.
- Dakkota Integrated Systems LLC
- Gestamp North America Inc.
- AISIN Light Metals LLC
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The automotive fascia market is segmented as follows;
Automotive Fascia Market, by Material
- Metal
- Steel
- Aluminum
- Non-Metal
- Polypropylene
- ABS
- Rubber
- Polycarbonate
- Others
Automotive Fascia Market, by Type
- Standard
- Step
- Others
Automotive Fascia Market, by Location
- Front
- Rear
Automotive Fascia Market, by Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicle
- Light Duty Vehicle
- Medium & Heavy Duty Trucks
- Bus & Coaches
Automotive Fascia Market, by Sales Channel
- OEM
- Aftermarket
Automotive Fascia Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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