automotive in mold decoration market - Growth Market Report

1. The global automotive in mold decoration market was valued at USD 2,350 Million in 2019 and is projected to reach USD 2,993.2 million by 2027, expanding at a CAGR of 4.1% during the forecast period. In-mold decoration is the process by which an injection molded part can be decorated during a molding cycle. The in-mold decoration process is designed to decorate plastic and other polymer products during injection molding or blow molding processes in vehicles. This result in a completely decorated part that involves no post painting, labeling, or coloring in automotive vehicle, behind the film. The automotive in-mold decoration is applicable for in cab back lit features, radio bezels, interior buttons, and other parts. Automotive in-mold decoration has multiple benefits over conventional molding decoration techniques (printed film overlay) such as innovative graphics, colors and designs. The advantages associated with automotive in-mold decoration such as elimination of costly and environmentally unfriendly solvent based adhesives, elimination of secondary labor for overlay application, multiple colors, & 3D graphic, and permanent image of part drives the growth of the market across the globe. Moreover, automotive in-mold decoration significantly help in making interior and exterior of any vehicle attractive. Lighter weight and lower material costs of in-mold plastics than metals are attracting customers. Thus, key companies are engaged in offering innovative in-mound techniques to attract customers, which in turn, is fueling the global automotive in-mold decoration market. Furthermore, increasing innovation and research & development (R&D) in automotive in-mold decoration is expected to create opportunities the market during the forecast period. Market Dynamics Rise in Use of Automotive In-mold Decoration to Reduce Vehicle Weight Materials such as polypropylene, acrylonitrile butadiene styrene (ABS), polystyrene, and polyethylene, are used as key materials in automotive in-mold decoration due to their light weight. The trend pertaining to the use of plastic in automotive in-mold decoration to reduce vehicle weight is significantly increasing among manufacturers, as it increases vehicle performance and reduce fuel consumption. For example, for every 10% reduction in vehicle weight, fuel efficiency can increases by nearly 8%. Plastic injection molded products are

2. widely used across the world due to their lighter weight. Plastics finds application in automobiles body parts such as interiors, exterior, and structural parts. The use of automotive plastic in-mold decoration is significantly increasing in developed countries. Furthermore, the use of plastics in automotive in-mold decoration is expected to increase rapidly in the near future due to the high demand for lightweight designs of automobiles. Get Exclusive Free Sample Report @ https://growthmarketreports.com/request-sample/82 Demand for Automotive Molding in New Vehicles A large number of molds are required in the development and manufacturing of various parts for new vehicles such as sheet metal parts, die-casting parts, stamping parts, plastic molded parts, and electronic components. Generally, for manufacturing automotive vehicles, more than 1,500 sets of automobile die casting molds, 800 sets of plastic injection molding, 300 sets of sheet metal molds, and 100 sets of die casting molds are needed. The adoption of automotive in-mold decoration in new vehicles has increased to boost efficiency and enhance the design, specially in cars. Furthermore, with increasing customers preference for vehicle interior decoration, the demand for automobiles is constantly improving which encourages car companies to continuously upgrade their original cars with innovative in-mold decoration techniques. According to National Bureau of Statistics, automotive mold account for approximately 30% of the plastic injection molding industry in China. Furthermore, the demand for automotive in-mold decoration is significantly increasing across the world due to rising automobile replacement speed. Thus, increasing production of new vehicles significantly drives the automotive in-mold decoration market. Preference for Substitutes Product and Conventional Techniques Use of substitute materials such as traditional designer parts of metals, glass and others for automotive decoration is expected to restraint growth of the automotive in-mold decoration market. Moreover, some of the traditional manufacturers are engaged in use of conventional automotive decoration techniques due lack of technological advancement and less skilled workers. Moreover, some consumer demographics are creates demand for classic and vantage look in the vehicle which hinders automotive in-mold decoration. The requirement of special machines and advanced technologies for automotive in-mold decoration restraints the growth of the market in developing countries. Segmental Outlook On the basis of method, the market is segmented into film insert molding, in mold labeling and film insert electronics. The film insert molding segment accounted for 41.8% share of the market in 2019. The decorated film used in FIM can create a huge variety of visual effects including monochromatic, multicolored, or metallic. The process allows integrated symbols, transmitted light design, surface impression, and high gloss, in automotive decoration. Moreover, additional properties associated with film insert molding such as media & UV resistance, scratch & abrasion resistance, electrical conductivity, and soft-touch finish increases its usage by manufacturers. This method saves machine investment; therefore, it is economical for manufacturers. Thus, the film insert molding segment is projected to grow at a significant pace worldwide.

3. In terms of application, the automotive in mold decoration market is segregated into interior and exterior. Interior segment is anticipated to expand at a CAGR of 4.5% during the forecast period. Interior automotive in-mold decoration segment is expected to grow at a significant pace in near future owing to the technological advancement in IMD techniques. Moreover, increasing number of companies focusing on interior designs fuels the segment. In terms of vehicle types, the market is categorized as passenger vehicles and commercial vehicles. The passenger vehicles segment holds a significant share of the global automotive in-mold decoration market due to increasing consumer spending on a look or design of a vehicle. Moreover, launch of designs and innovative automotive in-mold decoration products in the passenger vehicles segment is expected to boost the segment during the forecast period. In terms of sales channels, the automotive in mold decoration market is classified as OEM and OCM. The OCM segment is anticipated to expand at a CAGR of 4.2% during the forecast period, as Rising R&D spending and increasing partnership between automobile companies and original component manufacturer (OCM) are expected to create opportunities in the OCM segment during the forecast period. Regional Outlook In terms of regions, the global automotive in mold decoration market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted market share of one third share in 2020. The market in the region is projected to expand at a CAGR of 4.5% during the forecast period. The market in India is projected to expand during the forecast period owing to increasing trend of contract manufacturing. Developing countries such as China and India are expected to have relaxation in shipment and logistic of automotive parts in the near future, as it creates a lucrative opportunity for revenue generation for the government. Competitive Landscape •Key players in the market include John McGavigan Limited, Rosti Group AB, YOMURA TECHNOLOGIES, INC., Inglass S.p.A., Nissha Co., Ltd.,KURZ, INEOS Styrolution Group GmbH, Sumitomo (SHI) Demag Plastics Machinery GmbH, ENGEL AUSTRIA GmbH and Schobertechnologies. These companies are considered manufacturers of automotive in mold decoration based on their revenue, research development (R&D) activities, regional presence, and supply chain management system. •The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the automotive in mold decoration is added in the company’s capacity. •For instance, In September 2020 INEOS Styrolution Group GmbH partnered with Agilyx to identify and develop designs and supply chain approach to produce new high-value recycled products from polystyrene waste.

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