Automotive Fascia Market to Surpass Valuation of US$ 51.88 Bn by 2031: Transparency Market Research

Automotive Fascia Market: Introduction

According to the report, the global automotive fascia market is projected to surpass US$ 51.88 Bn by 2031, expanding at a CAGR of 5.86% during the forecast period. Rise in demand for lightweight vehicles across the globe is likely to increase the demand for automotive fascia. Vehicle manufacturers are more concerned about safety and comfort; on the other hand, manufacturers are using lightweight materials for automobile components in order to make vehicles more fuel efficient. This is anticipated to boost the automotive fascia market.

Rise in consumer trend toward an elegant and eye-catching appearance of the vehicle means fascia plays a major role. The fascia is located at the front and rear end of the vehicle, providing a finishing to the exterior design. Major vehicle manufacturers are investing on the development of advanced material for automotive fascia, which, in turn, is anticipated to boost the automotive fascia market.

Expansion of Automotive Fascia Market

Growing mergers and acquisitions between vehicle manufacturers across the globe is likely to propel the global automotive fascia market. Rise in demand for electric vehicles, owing to the enactment of stringent emission norms across the globe is also projected to boost the demand for automotive fascia. In November 2021, Plastic Omnium signed a strategic partnership with AVL, the world’s largest automotive company for development, simulation, and testing in automotive and energy sectors, for the development of medium and high power hydrogen systems that are expected to develop a range of high performance, cost-effective hydrogen systems for any vehicle.

In October 2021, Gestamp signed an agreement with Arcelor Mittal to minimize CO2 emission in its production process by using XCARB green steel certification, which is a significant implementation in their manufacturing process.

Based on vehicle type, the passenger vehicle segment dominated the automotive fascia market, in terms of volume and revenue, in 2020. Rise in sale of passenger vehicles owing to increase in buying power of consumers across the globe is estimated to fuel the automotive fascia market. Followed to passenger vehicle, the light duty vehicle segment is also projected to account for a notable market share of the market during the forecast period.

In terms of location, the global automotive fascia market has been bifurcated into front and rear. The front segment dominated the global automotive fascia market, in terms of volume and revenue, in 2020. Front fascia is utilized in all types of vehicles and hence, the segment held a major share of the market in terms of volume and revenue. Rise in sale of vehicles across the globe is estimated to drive the demand for front fascia.

Regional Analysis of Automotive Fascia Market

In terms of region, the global automotive fascia market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive fascia market in 2020. It is anticipated to hold a leading share of the global market during the forecast period due to a rise in vehicle sales across the region. Major presence of vehicle manufacturers across the region is also projected to boost the demand for automotive fascia. Rapid expansion of small- and medium-scale industries across Asia Pacific is anticipated to boost the automotive fascia market across the region.

Automotive Fascia Market Players

Prominent players operating in the global automotive fascia market include Plastic Omnium Co, Flex-N-Gate Corp, MRC Manufacturing, Inc., Revere Plastics Systems, LLC, Magna International, Inc., Sanko Gosei Technologies USA, Inc., Ventra Ionia, LLC, Dakkota Integrated Systems, LLC, MOBIS Georgia, LLC, Gestamp North America, Inc., Eakas Corporation, and AISIN Light Metals, LLC.

Global Automotive Fascia Market: Segmentation

  • 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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