Automotive Plastic Bumper Market Value to reach US$ 13 Bn by 2022
In the view of changing norms on production of automobiles, automotive plastic bumpers are expected to remain a pivotal part in the automaking businesses. Their lightweight, rigid and ductile properties will continue to help automakers achieve innovative exterior looks for their offerings. In addition to this, the importance of automotive plastic bumpers in safety of vehicle occupants as well as pedestrians is expected to boost its sales. In 2017, more than US$ 10 Bn worth of automotive plastic bumpers are expected to be sold across the globe. Fact.MR’s recent study projects that the demand for automotive plastic bumpers, however, will witness moderate growth owing to laws that curb the use of plastic in automobile manufacturing. By 2022, the global market for automotive plastic bumpers will have expanded at moderate CAGR, reaching US$ 13 Bn in value.
Following forecast highlights offer a detailed outlook on future of global automotive plastic bumpers market during 2017-2022.
- In 2017, more than US$ 3 Bn worth of automotive plastic bumpers are expected to be sold across the Asia-Pacific excluding Japan (APEJ) region. Countries such as India, South Korea and China are observed to be global hubs in automobile manufacturing. The presence of APEJ region on the global automotive plastic bumpers market is likely to remain dominant throughout the forecast period.
- In North America, the sales of automotive plastic bumpers will witness a considerable rise in production of passenger cars. By the end of 2022, North America’s automotive plastic bumpers market will surpass US$ 2.8 Bn in value, reflecting the resurgence of automotive industry across Canada and the US.
- Europe is also expected to be at the front end of global automotive plastic bumpers market expansion. During the forecast period, revenues amassed from sales of automotive plastic bumpers across European countries is likely to exhibit a moderate CAGR.
- Among key materials used in production of plastic bumpers, polypropylene is expected to gain higher preference compared to other materials. With nearly one-third share on global automotive plastic bumpers market value, the adoption of polypropylene materials is expected to witness an uptick throughout the forecast period.
- More than US$ 4.2 Bn worth of automotive plastic bumpers are anticipated to be sold for production of passenger cars in 2017. Going forward, passenger cars will be viewed as lucrative vehicle segment for application of automotive plastic bumpers. On the other hand, the demand for plastic bumpers in production of commercial vehicles is slated to be low owing to higher preference to sturdy metal bumpers.
- The report highlights that throughout the forecast period, OEMs will observed as the largest distributors for automotive plastic bumpers. Aftermarket sales of automotive plastic bumpers is also expected to rise in the view of growing popularity of vehicle customization. Across these distribution channels, the demand for low-priced automotive plastic bumpers will be downright high. By 2022-end, global sales of low-priced automotive plastic bumpers is expected to reach US$ 7.2 Bn in revenues.
- The report also profiles key manufacturers of automotive plastic bumpers in the global market. Companies such as Faurecia SA, Toray Industries, Inc., Benteler International AG, Samvardhana Motherson Automotive Systems Group B.V., Flex-N-Gate Corporation, Futaba Industrial Co. Ltd., Montaplast GmbH, Compagnie Plastic Omnium SA, and Warn Industries, Inc. are observed to be leading players in the global automotive plastic bumpers market.
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