Automotive Fascia Market

Automotive Fascia refers to the bumper component installed in the front and rear of the vehicle. The component is generally made of Acrylonitrile Butadiene Styrene, Thermoplastic olefin elastomers, or Polypropylene. With the evolution of composite plastics, a wider range of materials have become useable for bumper fascia. Bumpers act as crucial crumple zones during collisions by absorbing impact, thereby bringing down the cost of repair of the vehicle and providing safety to the passengers. Vehicle manufacturers cover the bumper components with lightweight fascias to match the aesthetics of the vehicle and provide better aerodynamics, hence increasing the overall fuel efficiency. The constant focus of governments on a fuel-efficient and safer automobile while not compromising on aesthetics is the primary reason for the growth of this market.

There is a growing need for automotive fascias in the lightweight vehicle category over the past several years due to the end-user sectors' desire for lightweight automobiles, which has put pressure on bumper producers to boost output. Additionally, the governments of emerging nations have made steps to restrict pollution rates, which has increased demand for automotive fascia in the segment of lightweight cars. Thus, fascia is constructed in a flexible way that is sufficient to reduce the danger of damage to passengers and also ensure reduced weight for cars.

The global Automotive Fascia market size is expected to grow from USD 21.3 billion in 2022 to USD 29.7 billion by 2027, at a CAGR of 6.9%. The increasing safety standards for pedestrians and passengers and the increasing complexity of vehicles leading to higher repairs post-impact damage is the primary driver of automotive fascias both in the OEM and aftermarket segments boosting the growth of the market. Consistent vehicle production worldwide would further ensure robust demand for automotive fascia over the forecast period.

Drivers: Demand for lightweight and cost-effective automotive fascias contributes to market growth.

The growing trend of vehicle light-weighting, premium vehicle design, and consistent vehicle production drives the automotive fascia market. The market for automotive fascia is expected to benefit further from the increase in demand for electric and fuel-efficient automobiles since the fascia plays a crucial role in the safety and aesthetics of the vehicle.

The adoption of strict pollution regulations throughout the world is pushing automakers to create lightweight vehicles, which is projected to raise demand for lightweight fascia in cars. To increase vehicle range, major electric vehicle (EV) manufacturers are using lightweight materials, which is also anticipated to drive the growth of the automotive fascia market.

It is projected that the global small- and medium-scale manufacturing sectors would boost the market for automobile fascias. The increasing mergers and acquisitions between automakers and manufacturers of auto parts are one of the key drivers for the global growth of automobile fascias.

Opportunities: Aftermarket visual modification of vehicles is a key opportunity for the automotive fascia market.

The urge for visually appealing cars among consumers is driving the general evolution and improvement of the automobile market. Consequently, the worldwide auto modification industry is flourishing, increasing the demand for aesthetically pleasing and aerodynamic automotive fascia. A rising consumer preference for modern, attractive automobiles over older versions may also contribute to the expansion of the automotive fascia industry. Additionally, people's changing lifestyles and increasing income levels cause automobiles to eventually undergo changes; during the projection period, these factors are also anticipated to significantly increase the market's growth rate.

Challenges: Higher maintenance and replacement costs of the automotive bumper fascia may hamper the growth of the market

Car crashes cause extensive vehicle damage that requires expensive repairs. Modern vehicles are safer, lighter, and have better gas mileage. However, the cost of body repairs has increased due to the newest production techniques and vehicle designs. Since a bumper fascia for an automobile is primarily made of plastic, replacement costs are significant. The replacement of the bumper fascia is necessary since it appears to have cracks. For instance, the price to replace an automobile fascia might range from USD 50 to USD 500. Therefore, changing this vehicle component may result in an increase in operating expenses, which is predicted to impede market expansion throughout the projection period.

Key players in the market

Magna International (Canada), Plastic Omnium (France), Gestamp (Spain), Flex-N-Gate (Germany), Dongfeng Electronic Technology Co., Ltd. (China), Chiyoda Manufacturing (Japan), Giken (Japan), Guardian Industries (US), MRC Manufacturing (US), SANKO GOSEI (US), Hyundai Mobis Co. (South Korea) and Sai Auto Industries (India) are few key players in the software-defined vehicles market globally.

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Recent Developments

• In December 2021, one of the seven supermajor France-based companies of oil & gas 'Total Energies', signed a strategic partnership with Plastic Omnium to design and develop new plastic materials made from recycled polypropylene, which would minimize waste as well as enhance performance.
• In July 2021, Revere Plastics Systems announced the acquisition of Ferguson Production Inc., a U.S.-based plastic material manufacturing company. The acquisition has enabled the company to expand its reach to 9 locations in North America.