Sumitomo Chemical Co., Ltd. (Japan) & Toyoda Gosei (Japan) are Leading Players in the Automotive Window and Exterior Sealing Systems Market
The global automotive window and exterior sealing systems market is estimated to be USD 18.26 Billion in 2016, and is projected to reach USD 25.69 Billion by 2021, growing at a CAGR of 7.07% from 2016 to 2021. Asia-Pacific is estimated to lead the market in 2016. China, Japan, and Korea are key contributors to the automotive window and exterior sealing systems market in the region.
The key strategy adopted by players to gain traction in the automotive window and exterior sealing systems market is expansion, which accounted for 55% of all the strategies adopted by companies from 2014 to 2016. For instance, Toyoda Gosei, one of the leading automotive window and exterior sealing systems manufacturer in Mexico, has planned to increase its production capacity for weather-strip to approximately 1.5 times the current level by 2020 in order to meet the demands as the automobile production increases in NA, especially in Mexico.
Companies operating in the automotive window and exterior sealing sytems market also followed the strategy of merger & acquisition to fortify their business network. This approach constituted approximately 24% of the total growth strategies adopted by players in the global automotive window and exterior sealing systems market. For instance, Sumitomo Chemical Co. Ltd, is gearing up to merge its three subsidiaries units which are located in Singapore and make it as r one unit, named as Sumitomo Chemicals Asia Ltd. This strategy is going to help the company to precisely focus on products, marketing, sales and supply chain management of its chemical products in Asian continent.
The automotive window and exterior sealing systems market is dominated by global players such as Cooper Standard INC (USA), Hutchinson Automotive (France), Magna International (Canada), Sumitomo Chemical Co. Ltd (Japan), Toyoda Gosei Co., Ltd (Japan), Minth Group (China), and Henniges Automotive Holdings INC. (USA).
Sumitomo Chemical Co., Ltd. (Japan) is majorly focusing on expansion, and merger, followed by acquisition which would help increase its geographical presence. The company has expanded its presence by creating a marketing base and also gearing up to provide manufacturing capabilities in India for increasing PP business. In august, 2016 the company acquired 50.1% share from Takana Chemical Corp (Japan) to improve both units capital and business alliance further more. Further company also planned to create new manufacturing hub for rolling out polyether sulfone with production capacity of 3000 tons per year. The company is expanding its geographical presence and relies on technological advancement to develop a wide product portfolio to cater to the need of consumers in different countries.
Toyoda Gosei (Japan) is the second largest company in the automotive window and exterior sealing systems market. Toyoda Gosei rolls out automotive interior and exterior parts, body seal & glass seal products, and functionality & safety products. The company has recently launched new range of material technology for rubber which has capability to regain its formal shape on any impact force applied on it for long time at high temperatures. Toyoda Gosei Co. Ltd., started a new Mexican subsidiary, in May, 2016 named Toyoda Gosei Irapuato Mexico, S.A. de C.V. (TGIMX) which provided radiator grilles, console boxes, plastic fuel filler pipes and other products to customers in the Americas. Production of plated products is scheduled to start in the summer of 2017. Toyoda Gosei already has three existing manufacturing subsidiaries in Mexico: TAPEX Mexicana, S.A. de C.V. (TAPEX), Toyoda Gosei Automotive Sealing Mexico, S.A. de C.V. (TGASMX), and Toyoda Gosei Rubber Mexico, S.A. de C.V. (TGRMX). With the start of TGIMX, Toyoda Gosei has established a system of four production bases in Mexico that will cover all categories in its automotive parts business.
Related Reports:
Automotive Window and Exterior Sealing Systems Market by Component Type (Glass Run Channels, Roof Ditch Molding, Exterior Seals (Front Windshield, Hood Seals, Trunk Seals)), Vehicle (PC, LCV, HCV and EV), and Region - Global forecast to 2021
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