MARKET OVERVIEW - GLOBAL AUTOMOTIVE FRONT-END MODULE MARKET
Front-End Module is lies in Front-End of automotive and mainly consist components like headlight, front grill, radiator, condenser, horn assembly, oil cooler, and others. Among these components, the headlight is the most vital component of a vehicle that is attached to the front side of all vehicles to illuminate the roads. The module’s outline contributes to the vehicle’s characteristic look, while the equipment it contains adds directly to its safety and reliable operation. From design to development, through assembly and logistics operations. One thing is common in all front-end modules that is the front-end carrier. This can be made of different materials – light construction materials such as magnesium are considered, as is the common method of metal hybrid engineering. Front-End Module enables so-called vehicle front rigidity and attachment between the components of a front-end module and the entire vehicle
MARKET DRIVERS
The increasing automotive industry worldwide will drive the market growth during the forecast period. The market growth is also attributed to the rising need for vehicle weight reduction and increasing demand for technically advanced lightweight front-end modules will boost the market growth. The increasing demand for rising need for vehicle weight reduction and increasing demand for technically advanced lightweight front-end modules also attributed to the growth over the forecast period. Furthermore, the increasing rising need for vehicle weight reduction and increasing demand for technically advanced lightweight front-end modules also propel the market growth and is one of the key major factors.
MARKET OPPORTUNITIES
Many automotive manufacturers are adopting key integration platform of automotive front-end development will be positively influence the market over the forecast period. There has been numerous research and development activities are underway to enhance Automotive Front-End Module products and new innovative technologies. These factors are actively beneficial for the market growth over the forecast period. Furthermore, the technological trends like artificial intelligence, machine learning, and robotics also be positively influence the market in the coming future.
MARKET RESTRAINTS
Automotive front-end module market is hampered by the increasing safety and technological constraints involved in lightweight fems, increasing vehicle parts modernization, and emerging competitors are likely to hinder the market growth over the forecast period.
MARKET GROWTH CHALLENGES
The Automotive front-end module is being challenged by the increasing sales of counterfeit products in the automotive industry. The weak monitoring of supply chains and poor IP laws are the reason behind the loss of sale regarding automotive front-end modules. These is main challenging factor in the market.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the global Automotive Front-End Module market, market size, and compound annual growth rate (CAGR) for 2022-2028, considering 2021 as the base year. The increasing demand for light weight automobiles coupled with technological advancement is expected to propel growth at a specific CAGR from 2021-2028.
AUTOMOTIVE FRONT-END MODULE MARKET SEGMENTAL OVERVIEW
The global Automotive Front-End Module market comprises different market segments like component, material, end user and geography.
AUTOMOTIVE FRONT-END MODULE MARKET BY COMPONENT
By component, automotive front-end module includes key segments of
- Headlight
- Front Grill
- Front Active Grill
- Bumper Cover
- Cooling components
- Oil Cooler
- Radiator Core Support
- Cruise Control Sensor
- Others
Headlight held the major market share in the Automotive Front-End Module market. The headlight component is most important part of the car in front panel. It is used in automotive Front-End for illuminating the road ahead and reduces the accident risk and hence it is most important part. The increasing demand for premium car and rise in sales will drive the growth for headlight segment over the forecast period.
AUTOMOTIVE FRONT-END MODULE MARKET BY MATERIAL
By material, Automotive Front-End Module include key segments of
- HDPE (High Density Polyethylene)
- LDPE (Low Density Polyethylene)
- PP (Polypropylene)
- Others
HDPE (High-Density Polyethylene) held the major market share in the Automotive Front-End Module market. HDPE (High-Density Polyethylene) has a high strength-to-density ratio and is used in the production of plastic bottles, corrosion-resistant piping, geomembranes, and plastic lumber. The structure of HDPE is linear and it contains very little branching, resulting in stronger intermolecular forces hence it is used in shampoo bottles, chemical containers, recycling bins, and more.
AUTOMOTIVE FRONT-END MODULE MARKET BY END-USER INDUSTRY
The Automotive Front-End Module market is applied across the end-user industry such as
- Food & beverages
- Pharmaceutical and Personal Care
- Cosmetics and Toiletries
- Other
Food & beverages is a major contributor and hold the major market share over the period. The main function of bottles caps is to protect the content inside the package. Some bottle caps are designed to dispense liquid products like condiments, oils, sauces, etc. They find wide use in food and beverage, FMCG, pharmaceutical and chemical industries. According to Cleveland-based The Freedonia Group’s 2017 “Global Plastic Caps & Closures by Product, Market and Region” report, beverage caps and closures accounted for 66 percent of the overall global caps and closures market in 2016, and will continue to account for a majority of the demand in the future. Therefore, this segment is dominant and growing at the fastest CAGR.
AUTOMOTIVE FRONT-END MODULE MARKET BY GEOGRAPHY
The global Automotive Front-End Module market is studied for the following region
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
Asia-Pacific is the largest region in the Automotive Front-End Module market in 2022. The increasing plastic use and increasing consumer preference for convenient packaging will drive market growth. The increasing demand for packaged food and bottled beverages is driving the market in the Asia Pacific. The Asia-Pacific (APAC) region produced just over half of the world’s plastics (52% of 390.7Mt globally) in 2021. Asia Pacific is the the world’s largest plastic producers, China was the largest manufacturer of plastic, contributing 32% of the global plastics materials production.
COVID-19 IMPACT ANALYSIS ON THE GLOBAL AUTOMOTIVE FRONT-END MODULE MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the global Automotive Front-End Module market. In addition, a complete analysis of changes in the global Automotive Front-End Module market expenditure, and economic and international policies on the supply and demand side is provided in this exclusive report. The report also studies the impact of a pandemic on global economies, international trade, business investments, GDP, and the marketing strategies of key players s present in the market.
The COVID?19 epidemic has pushed the global economy and humanity into a disaster and severely affected automotive industry. The decline in demand resulted into declined in production that had caused by disruption in supply chain and lack of availability of raw materials. These scenarios had resulted into less revenue generation and harmed many manufacturers. Over the last 12–18?months, the automobile field had already undergone significant delay due to structural modification openings with the goods and services tax, axle?load reforms, shift to shared mobility, liquidity crunch, and so on industries had faced major effect and has roughly been at a complete idle since 24 March due to the COVID?19's lockdown. During COVID 19, most of the companies starving the support of R&D (Research and development) to maintain core functions and potentially getting back the growth made on mobility technologies as well as alternate fuels.
COMPETITIVE LANDSCAPE ANALYSIS
The Automotive Front-End Module market has leading operating players that are primarily focused on expanding the global growth of the Automotive Front-End Module industry with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the Automotive Front-End Module sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumers, which further contributes to healthy growth in the market.
The key players studied in the market are
- Amcor Limited
- Silgan Holdings Incorporated
- WestRock Company
- Weener Plastics Group NV
- United Caps Luxembourg S.A.
- TriMas Corporation
- Schreiner Group GmbH & Company KG
- Saint-Gobain
- RPC Group plc
- Bericap
- Aptargroup Inc
- Closure Systems International
- Caprite Australia
- Plastic Closures Limited
- Newell Brands Incorporated
- Evergreen Packaging Inc.
- Ball Corporation
- Crown Holdings Inc.
RECENT DEVELOPMENT:
Feb-2023: Berry Global Group, Inc is partnering Coco-Cola Bottling company. The Berry global group is Europe's first plastic packaging manufacturer to supply The Coca-Cola Company with a lightweight, tethered closure for its carbonated soft drinks in PET (polyethylene terephthalate) bottles.
January 2021: Amcor has launched IMPRESSIONS, a technology developed in collaboration with MGJ that enables brands to customize closure liners, such as the underside of bottle caps. IMPRESSIONS is designed to enable online experiences to benefit both brands and consumers directly.
