PUBLISHER: The Business Research Company | PRODUCT CODE: 1556202
PUBLISHER: The Business Research Company | PRODUCT CODE: 1556202
Automobile weather strips are components used in vehicles to seal the edges of doors, windows, trunks, and other openings. Typically made from rubber, foam, or other flexible materials, these strips help prevent water, dust, and debris from entering the vehicle, keeping the interior clean and dry.
The main materials used for automobile weather strips include ethylene propylene diene terpolymer (EPDM) rubber, polyvinyl chloride (PVC) rubber, and thermoplastic elastomer (TPE) rubber. EPDM strips are a type of synthetic rubber composed of ethylene, propylene, and a diene monomer. They are used in various types of vehicles, including passenger cars, compact cars, midsize vehicles, sport utility vehicles (SUVs), luxury vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). These strips are available through both original equipment manufacturers (OEMs) and aftermarket suppliers and are used for sealing doorframes, windows, roof rails, windshields, and trunks.
The automobile weather strip market research report is one of a series of new reports from The Business Research Company that provides automobile weather strip market statistics, including automobile weather strip industry global market size, regional shares, competitors with a automobile weather strip market share, detailed automobile weather strip market segments, market trends and opportunities, and any further data you may need to thrive in the automobile weather strip industry. This automobile weather strip market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automobile weather strip market size has grown steadily in recent years. It will grow from $11.42 billion in 2023 to $11.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth during the historic period can be attributed to increasing aftermarket sales, rising disposable incomes, a growing focus on vehicle safety, heightened awareness of preventive maintenance, and the expansion of the ride-sharing industry.
The automobile weather strip market size is expected to see steady growth in the next few years. It will grow to $14.34 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to increasing vehicle production, a rising demand for electric vehicles, enhanced vehicle aesthetics and comfort, the expansion of the luxury car market, and growing consumer preference for customized vehicles. Major trends during this period include innovations in materials and manufacturing processes, partnerships and collaborations with OEMs, infrastructure development, increased investment in research and development, and the use of 3D printing technology in manufacturing weather strips.
The growth of the automotive industry is expected to drive the expansion of the automobile weather strip market. The automotive industry includes a wide range of entities involved in the design, development, manufacturing, marketing, and sales of motor vehicles. This sector is experiencing growth due to rising consumer demand for electric vehicles, technological advancements, and increased urbanization leading to higher vehicle sales. Automobile weather strips play a crucial role in enhancing vehicle performance and passenger comfort. For example, a study published in March 2024 by the European Automobile Manufacturers Association, a Belgium-based standards organization, revealed that global new car sales increased by nearly 10% after stabilizing in 2022, with sales in the EU climbing almost 14% to 10.5 million units. Sales of new battery-electric vehicles rose by 37%, capturing a 14.6% market share, and global car production reached 76 million units, reflecting a significant 10.2% increase. As a result, the automotive industry's growth is propelling the automobile weather strip market.
Key players in the automobile weather strip market are investing in innovative technologies such as hot-stamping to enhance sealing performance and aesthetics. Hot-stamping is a process that uses heat and pressure to apply metallic or pigmented foils onto a surface, creating both decorative and functional markings. For instance, in October 2023, Toyoda Gosei Co. Ltd., a Japan-based automotive parts manufacturer specializing in rubber and plastic components including weather strips, introduced a new front grille featuring advanced hot-stamping technology on the Lexus LM model. This innovation utilizes foil technology that eliminates the need for a protective top coat against weathering and UV rays. By improving the foil's protective layer with advanced plastic materials, the company achieved the same durability as previous products while reducing CO2 emissions during production by 20% and conserving resources by removing the top coat application.
In October 2023, ALP USA Inc., a US-based manufacturer of rubber, EPDM, polymer, and silicone products, acquired SoffSeal International Inc. for an undisclosed amount. This acquisition is set to enhance ALP USA's offerings in the US market and strengthen its distribution capabilities. It also supports the US auto parts industry and allows ALP USA to export SoffSeal products to other regions. SoffSeal International Inc. is a US-based manufacturer of automobile weather strips.
Major companies operating in the automobile weather strip market are 3M Company, Hutchinson SA, Toyota Boshoku Corporation, Akzo Nobel N.V., The Freudenberg Group, Toyoda Gosei Co. Ltd., REHAU Industries SE & Co. KG, Trelleborg AB, MINTH Group Ltd., Cooper Standard, Anhui Zhongding Sealing Parts Co. Ltd., Standard Profil Group, TPR Co. Ltd., HWASEUNG GROUP, Nishikawa Rubber Co. Ltd., Kinugawa Rubber Industrial Co. Ltd., CQLT SaarGummi Technologies S.a r.l., KACO GmbH, Henniges Automotive Holdings Inc., PPAP Automotive Limited, Hebei Shida Seal Group Co. Ltd., CGR Products, Canada Rubber Group Inc., Bohra Rubber Pvt. Ltd., Lauren International Ltd.
Asia-Pacific was the largest region in the automobile weather strip market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automobile weather strip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automobile weather strip market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automobile weather strips market consists of sales of hood weather strips, edge trim weather strips, beltline weather strips and custom-molded weather strips. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automobile Weather Strip Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automobile weather strip market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automobile weather strip ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automobile weather strip market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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