Automotive OE Bumper Cover Market

Automotive OE Bumper Cover Market Outlook (2023 to 2033)

The global automotive OE bumper cover market is valued at US$ 47.2 billion in 2023 and is forecasted to jump to US$ 98 billion by the end of 2033, rising rapidly at a noteworthy CAGR of 7.6% from 2023 to 2033 (forecast period).

A bar that runs transversely in front of or behind the body of a car is called an automotive bumper, and it serves as protection against obstacles or as a way to lessen the force in case of a collision between two vehicles.

An automobile bumper acts as an increase in protection during an accident and deflects the impact, reducing repair costs and can help in saving the lives of passengers or pedestrians.

Standard bumper covers are available in a range of sectional shapes, including flat, round, tubes, and channels. They can be composed of steel, wood, or rubberized fabric. Bumpers serve to both protect the passengers of the car and enhance the appearance of the vehicle.

Various opportunities for the automotive OE bumper cover market are expected over the forecast years due to factors such as rising demand for automobiles, increase in accidents caused by lack of safety precautions, and shifting demographic trends across the world.

• Mercedes-Benz India released the 2021 E-Class LWB. The new E-Class E 350d AMG-line model features special beige-Tropez blue interior upholstery, an exclusive diamond-studded front grille, sportier 18-inch alloy wheels, and front and rear bumpers with AMG styling.

The market is also anticipated to grow due to increasing demand for passenger cars and commercial vehicles, rising environmental concerns, and stringent regulations by governments regarding car safety.

On the flip side, there are some limitations that may prevent the market from reaching its full potential. Rising costs of raw materials such as fiberglass can hinder industry expansion to some extent.

Report Attributes	Details
Market Size in 2022	US$ 43.8 Billion
Estimated Market Value (2023)	US$ 47.2 Billion
Projected Market Value (2033)	US$ 98 Billion
Global Market Growth Rate (2023 to 2033)	7.6% CAGR
Market Share of Thermoplastic Polymer Bumpers (2023)	32%
Companies Profiled	Plastic Omnium SA Magna International, Inc. Futaba Industrial co., ltd. Toyoda Gosei Co., ltd. Hyundai Mobis Co., ltd. Faurecia SA Toray Industries, Inc. Toyota Boshoku corporation Plastic Omnium Smp Deutschland GmbH

How is the Market for Automotive OE Bumper Covers Evolving?

“Growing Focus on Smart Bumpers by Manufacturers”

Technology development is a key tactic employed by automakers to provide automobile components with more functionality. Smart vehicle bumpers, which include an integrated radar, a front grill with a de-icing system, and a lighting system based on flexible optical fibers, as well as an impact detection and absorption system, have been developed by automakers.

An automotive bumper cover, also known as a smart bumper, is a structure that helps safeguard pedestrians and drivers by absorbing the impact of a collision.

• The Miami, Florida-based NPW Companies acquired Chicago-based All Products Automotive in October 2020. The acquisition increased NPW's penetration across the United States and improved its professional customer coverage, especially in the upper Midwest.

“Strict Government Environmental Standards”

The end-user segments for lightweight automobiles have grown over the past several years, which has put pressure on bumper producers to produce them in large quantities. The ability of automotive bumpers to consume less gasoline and produce fewer emissions is what is driving the demand for them in automobiles.

Governments of emerging nations have made steps to restrict pollution rates, which has increased the demand for automotive OE bumper covers in the segment of lightweight vehicles. These bumpers are constructed in a flexible way that is sufficient to reduce the danger of injury to passengers.

Which Aspect is Expected to Restrain Market Growth Potential to Some Extent?

“Growing OEM Production Costs Significant Barrier to Market Expansion”

Rising production expenses experienced by OEMs are a result of technological advancements and new fabric developments. Side airbags must now be installed in addition to frontal airbags due to the growing competition among vehicle manufacturers to acquire a competitive edge through product differentiation.

The volume of side airbags that are deployed in addition to the vehicle's total airbag deployment increases the cost of OEMs' purchases, which is anticipated to hurt the market for automotive OE bumper covers.

Country-wise Insights

Why is China a Lucrative Market for Automotive OE Bumper Cover Suppliers?

“Upsurge in Vehicle Production in the Country”

With the increase in car production in developing nations such as China and India, Asia Pacific is having a significant impact on industry expansion. Region market players are concentrating on increasing production capacity, which is propelling the growth of the automotive OE bumper cover market across Asia Pacific.

Another significant factor driving the growth of the market in Asia Pacific countries is the low cost of manufacturing in the region as compared to Europe and North America.

How is the United States Automotive OE Bumper Cover Market Faring?

“Government Regulations Complementing Market Expansion”

With growing environmental concerns and stringent laws for car safety in North America, the market is anticipated to overtake Europe as the second-largest regional market.

• Every passenger vehicle bumper must be able to withstand a minimum five MPH hit from another vehicle without causing any harm to the car's body, according to the U.S. Government.

Strong and long-lasting vehicle bumpers are in high demand as a result of such regulations. Bumpers help improve the aesthetics of the vehicle in addition to protecting the occupants and pedestrians, which will drive market growth across different automotive industries in the country.

Category-wise Insights

Why is Deployment of Thermoplastic Bumper Covers High?

“Beneficial Factors - Elastic Properties and Sun Resistance”

Thermoplastic bumper covers are made of a range of polymers, including polypropylene, polybutylene terephthalate, and acrylonitrile butadiene styrene. The bumper cover market has been dominated by thermoplastic because it is more durable and has superior sun resistance.

The popularity of using thermoplastic material for making bumper covers has increased because of how easily it can be processed and molded due to its elastic properties.

• Ford Motor Company, a well-known American automaker, disclosed in June 2021 that it was collaborating with Origin Materials, a company well-known for its carbon-negative materials. Ford wanted to investigate the usage of carbon-negative PET plastic made from wood waste in the automotive supply chain through this collaboration.

Why is Usage of Injection Molded Bumpers Popular for Commercial Vehicles?

“Increasing Demand for Injection Molding Process for Various Applications”

Since it is a more straightforward and economical method, injection molding enjoys the most market penetration. The production of thermoplastic bumpers and the processing of urethane blends both utilize injection molding.

Demand for injection molded bumpers is anticipated to expand rapidly as plastic bumper covers become more prevalent. The thermoset urethane bumpers are widely manufactured using the reaction injection method. A majority of commercial cars are fitted with injection molded bumpers.

Competitive Landscape

Key business tactics used by vehicle bumper cover manufacturers include product innovation, acquisitions, collaboration, and R&D initiatives. Compagnie Plastic Omnium SA, Magna International Inc., TONG YANG GROUP, NFT India Pvt. Ltd., TOYOTA BOSHOKU CORPORATION, SEOYON E-HWA, TOYODA GOSEI Co., Ltd., Montaplast GmbH, Magneti Marelli S.p.A., and LG HAUSYS, LTD. are major companies in the automotive OE bumper cover market.

These leading players are implementing various inorganic and organic growth methods such as joint ventures, strategic alliances, mergers and acquisitions, and partnerships to expand their business operations and geographical footprint.

• In March 2021, The Plastic Industry Association (PLASTICS) and Ultra-Poly Corp., a pioneer in plastic recycling, evaluated a method to collect plastic car bumpers and recycle them into recycled polyolefins (TPOs) that demonstrate 85% to 90% of the elasticity of the original plastic material.
• Sumitomo Chemical, a renowned chemical business with its headquarters in Japan, announced the opening of a new mechanical waste processing facility in September 2022. This facility would employ waste plastics derived from end-of-life automobiles. The business anticipated stepping up its efforts in the future to commercialize the creation of recycled polymers for use in automotive applications.

Key Segments of Automotive OE Bumper Cover Industry Research

• By Type :

  • Thermoplastic
  • Thermoset
  • Metal

• By Process :

  • Injection Molding
  • Reaction Injection Molding
  • Vacuum Forming

• By Design :

  • Standard
  • Deep Down
  • Roll Pan

• By Vehicle :

  • Passenger Vehicles
  • Commercial Vehicles

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific & China
  • Middle East & Africa