Industry Background:
Automotive body panels refer to body parts of the vehicle that are made of a material such as iron, aluminum, magnesium, steel, and other materials. Development of lightweight automotive body panels with advanced technology as it reduces the overall vehicle weight and makes the vehicle more efficient expected to drive the demand for the automotive body panel market during the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Gordon Auto Body Parts Co., Ltd. (Taiwan), Austem Company Ltd. (South Korea), Gestamp Automoción (Spain), Magna International Inc. (Canada), Kuante Auto Parts Manufacture Co., Ltd., (China), Flex-N-Gate Corporation (United States), BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan) and ArcelorMittal (Luxembourg) |
This growth is primarily driven by Rise In Demand for Automotive and Increasing Government Initiatives for Weight Reduction in Automobiles.
Globally, a noticeable market trend is evident Emphasizing On Development of Lightweight Automotive Body Panels Major Vendors, such as Gordon Auto Body Parts Co., Ltd. (Taiwan), Austem Company Ltd. (South Korea), Gestamp Automoción (Spain), Magna International Inc. (Canada), Kuante Auto Parts Manufacture Co., Ltd., (China), Flex-N-Gate Corporation (United States), BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan) and ArcelorMittal (Luxembourg), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2020, Toray acquired Alva Sweden AB. Issued and outstanding shares of Alva Sweden AB, manufacturer of cushions for automotive airbag systems. Alva Sweden AB retains the company name.
19th September 2019, BASF and STR Automotive launch Elastolit polymer. It supports the production of lightweight and thinner body parts and provides high-temperature resistance and stiffness.
Influencing Trend:
Emphasizing On Development of Lightweight Automotive Body Panels
Market Growth Drivers:
Rise In Demand for Automotive and Increasing Government Initiatives for Weight Reduction in Automobiles
Challenges:
Maintenance of Lightweight Automotive Body Panels
Restraints:
High Cost of Lightweight Automotive Body Panels
Opportunities:
Growing Automobile Industry and Future Potential Market in Developing Countries Such As India, China, Japan, And Others
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Body Panel Market
- Analysis about New Entrants in Automotive Body Panel Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Body Panel Study Sheds Light on
The Automotive Body Panel Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Body Panel industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Body Panel industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.