Automotive Valance Panel Market: Overview
Automotive valance panel covers the parts of the rear and front bumpers of automotive vehicles. The main purpose of using automotive valance panels for vehicles is to create an impressive look and enhance the aesthetic appearance of vehicles. Automotive valance panels play a crucial role in reducing the aerodynamic force and help maintain a streamlined flow of air to enhance the overall performance of a vehicle.
Before the 20th century, automotive valance panels were manufactured in the same colour as the bumper material to match the aesthetic look of the vehicle design. However, over the past couple of years, automotive valance panels are being used to provide an impressive and aesthetic look to automotive vehicles.
In passenger cars, automotive valance panels are generally installed in the front side below the radiator to cover the naked portion of the vehicle. In rear side of the vehicle, automotive valance panels are installed to cover the rear naked bumper of the vehicle. In terms of growth, the global automotive valance panel market is expected to grow at an addressable pace over the forecast period.
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Automotive Valance Panel Market: Dynamics
Increase in the demand for fuel-efficient vehicles or light-weight vehicles is projected to drive the automotive valance panel market across the globe. Moreover, automotive car makers are also introducing modifications in the design and looks of existing vehicles to cater to the demand for sporty looking vehicles, and this is also projected to boost the demand for automotive valance panels across the globe.
They are also launching new versions of older vehicles owing to the high demand from consumers for stylish vehicles, which is also estimated to accelerate the growth of the automotive valance panel market across the globe.
However, the high cost of innovative material incurred by the manufacturers of automotive valances is a prominent aspect that is likely to hamper the growth of the global automotive valance panel market during the forecast period.
On the other hand, the inclusion of automation in automotive vehicles, material advancements, amalgamation of the value chain and advancements in the manufacturing technology of automotive valance panels are expected to be some of the trends witnessed in the market over the coming years.
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Automotive Valance Panel Market: Segmentation
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Automotive Valance Panel Market: Regional Outlook
Asia Pacific is projected to dominate the global automotive valance panel market owing to the rising demand for fuel-efficient vehicles over the forecast period. In Asia Pacific, China and India are expected to grow at a considerable rate during the forecast period owing to the shifting consumer behaviour towards the adoption of sporty looking vehicles as well as light-weight vehicles.
Europe is also expected to grow with a significant share in the global automotive valance panel market during the forecast period due to supportive government schemes for the production of emission-less vehicles. The Middle East & Africa region is projected to grow with a minor share in the global automotive valance panel market due to the presence of a lesser number of vehicle production facilities in the region as compared to other regions.
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Automotive Valance Panel Market: Key Participant
Some of the market participants in the automotive valance panel market identified across the value chain are:
- GORDON AUTO BODY PARTS CO., LTD.
- Machino Plastics Limited
- Compagnie Plastic Omnium SA
- ALP FPI Parts Pvt. Ltd.
- FLEX-N-GATE
- TOYOTA BOSHOKU CORPORATION
- Magna International Inc.
- Montaplast GmbH
- NTF India Pvt. Ltd.
- SEOYAN E-HWA Automotive Slovakia
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