Automotive Trim Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Passenger vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), By Product Type (Interior Trims and Exterior Trims), By Sales Channel (OEM and Aftermarket), and by Regional Forecast, 2024-2032

The automotive trim market refers to various interior and exterior parts and components used to decorate and enhance the appearance and functionality of vehicles. These components can include various panels, door trims, dashboards, and alloy wheels. The global automotive trim market is driven by various factors like demand for customization, mid-size segment cars growing demand, and rising disposable income.

In August 2022, Automotive Trim Developments (ATD), a UK-based group of companies focused on the engineering and manufacturing of complete interior trim and electro-mechanical assemblies for the automotive and other transport industries, installed two EOS M 290 metal Additive Manufacturing machines. The market is also influenced by trends such as lightweight trims and sustainable materials without impacting the environment.

These parts are designed to complement the vehicles' overall design and provide the driver and passenger with a visual and comfortable interior and exterior. Various materials are used, like leather, wood, plastic, and metal, depending on the customer's requirement and functionality.

Automotive trims play a major role in enhancing appearance, and the market is expected to have n high growth as major manufacturers shift towards high customization of their production.

Impact of COVID-19 on the Automotive Trim Market

COVID-19 had a significant impact on the Automotive segment, and the automotive trim market was also affected by it; the disruption in the supply chain and decreased demand for vehicles was the critical point. Many countries worldwide implemented strict sanctions and lockdowns on the movement of components and goods, disrupting the market logistics. People staying at home and less passenger usage led to a decrease in demand for the sales service of these trim components.

Post COVID-19 changes in government regulations and implementation of stimulus packages. Stimulus packages supporting the decarbonization of the vehicle fleet through increased efficiency and electrification can aid in these economic recovery efforts. Automotive industries helped boost the production of electric and hybrid vehicles. This has increased demand for lightweight automotive trims, which have structural rigidity, fuel efficiency, and good visual aesthetics for every type of vehicle. Which is more economical; it has led to high demand for different companies for automotive trims which is more economical, it has led to high demand for different companies for automotive trims. Overall the automotive trim market is expected to grow highly post-COVID-19 as EVs and other vehicles segment get significant traction and popularity.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships.


• Porter's Five Forces Analysis.


• Technological Developments.


• Impact of COVID-19 on the Automotive Trim Market.

Analysis by Vehicles 

Passenger cars are the largest and fastest-growing segment of the Automotive Trim market, making up a significant portion of the vehicle on the road. The growing demand for cars, added customization, and visual aesthetics in emerging countries in the coming years is expected to drive the growth of manufacturers of automotive trims.

Technological advancements like heat-pressed fiber trims, carbon fiber trims, and plastic trims are anticipated to have the highest growth, and manufacturers will have increased sales and profits. Also, trims integrated with rigid one-piece body panels will be produced more, driving the market growth.

Analysis by Product Type

Interior trim refers to components that enhance the vehicle's appearance and functionality, such as dashboards, seat covers, door trims, and headliners. At the same time, exterior trim consists of body trims, alloy wheels, and grilles. Factors like better performance and enhanced appearance drive the demand for exterior trim. The demand for internal trim is higher due to consumer preference for comfort and style; this is why manufacturers and aftermarket suppliers focus on interior trims. The sales and demand are expected to increase in the coming years for interior trim as a result of this.

Analysis by Sales Channel 

The Automotive trim market can be analyzed based on OEM and aftermarket. OEM trims are installed during the production and assembly of the vehicle; these beams are produced by major players in the market and supplied to Automotive manufacturers for direct installation. These trim materials and fabrication processes have the highest quality and strict quality control. Suppliers with long-term contracts with manufacturers dominate the OEM market; this segment is highly competitive and requires a high level of technical expertise for manufacturing.

Overall, the OEM segment of the market tends to be larger than the aftermarket, as most vehicles are sold with OEM fittings. However, the market will rise rapidly, and the aftermarket segment will grow with it in the coming years due to the increasing age of vehicles on the road and the demand for required aftermarket trims.

Analysis by Region

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The Asia Pacific region is expected to be the largest market segment due to the growing demand for vehicles in countries such as China and India, which have the largest population and a growing middle-class sector, and these segment is demanding high customization capabilities in their purchase whether its interior trims or external trims. This region also has major OEM manufacturers and suppliers, which drive OEM Automotive trim production growth. Also rise in E.V. and Hybrids will be a factor in the development of this region as they also have high customization and visual aesthetics demand.

Key Players Covered

Magna International (Canada), Grupo Antolin (Spain), Faurecia (France), Toyoda Gosei Co. Ltd (Japan), Yanfeng Automotive Interiors (China), BASF SE (Germany), IAC Group (Luxembourg), Continental AG (Germany), Adient plc (U.S.), Cooper Standard (U.S.), Tata Autocomp System (India).

Segmentation

Key Industry Developments

• February 2021: Adient, one of the key players in the automotive market, announced that it had developed a new line of sustainable, recycled interior fabrics for use in automotive seats. The new fabrics are made from 100% recycled polyester, reducing waste and lowering carbon footprint.


• Mar 2021: Cooper Standard announced the development of a new line of TPE (thermoplastic Polymer) seals and trim products for external vehicle body applications.


• Apr 2021: Tata Autocomp System Limited, a leading automotive supplier, announced the acquirement of French company TitanX. The acquisition will allow Tata to enter markets in Europe and America.