Automotive Mold Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Mold Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global automotive mold market size reached US$ 39.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 61.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

Automotive mold is a decorative element of an automobile comprising a contoured strip of plastic, metal, or hard rubber, which is located along the windows and different elements of the car. It includes interior trim, door handles, rails, side molding, wheel trim, vents, mudflaps, window moldings, car mats, and engine caps. It is designed to close the gap filled with adhesive and cover areas with increased inter panel clearance as well as spaces between the glass and the body. It protects the interior of the vehicle from moisture and corrosion. It also prevents the accumulation of dirt and dust on the bumper and wings.

Automotive Mold Market Trends:
At present, the growing demand for automotive mold to decorate backlit features, radio bezels, interior buttons, and other parts represents one of the major factors impelling the market. Besides this, automotive mold offers several benefits, such as eliminating costly and environmentally unfriendly solvent-based adhesives, preventing secondary labor for overlay application, multiple colors, and 3D graphics, which is strengthening the growth of the market. Moreover, key players are introducing innovative in-mound techniques for making the interior and exterior of vehicles attractive. They are also focusing on developing virtual molding via enhanced digital software, which is offering a positive market outlook. In addition, there is a rise in the demand for light commercial vehicles (LCVs) with low rolling resistance tires across the globe. In line with this, the expanding automotive industry is propelling the growth of the market. Apart from this, the rising utilization of compression molds in cockpits, air outlet grilles, and mirror shells is bolstering the growth of the market. Additionally, the increasing employment of hydroforming and forging molds due to the escalating demand for lightweight components in the automotive industry is positively influencing the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive mold market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, application and vehicle type.

Breakup by Technology:

Casting Mold
Injection Mold
Compression Mold
Others

Breakup by Application:

Exterior Parts
Interior Parts

Breakup by Vehicle Type:

Passenger Car
Light Commercial Vehicle
Heavy Trucks

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alpine Mold Engineering Limited, Amtek Plastics UK, Chief Mold USA, Flight Mold and Engineering, Gud Mould Industry Co. Ltd, JC Mould, PTI Engineered Plastics, Sage Metals Limited, Shenzhen RJC Industrial Co.Ltd, Sino Mould, SSI Moulds and Taizhou Huangyan JMT Mould Co. Ltd.

Key Questions Answered in This Report:
How has the global automotive mold market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive mold market?
What are the key regional markets?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What is the breakup of the market based on the vehicle type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive mold market and who are the key players?
What is the degree of competition in the industry?