The global automotive exterior materials market is
expected to reach USD 19.21 billion in 2025, according to a new report by Grand
View Research, Inc. Steel which was predominantly the material of choice for
various exterior components is expected to witness rising competition from
plastics and carbon composite materials.
High prices of these composites
have limited use of these materials to certain components. Sustainability is
expected to emerge as key megatrend which is likely to shape the future of
materials used for manufacturing car exteriors and will pose greater challenges
for automobile designers.
Increasing environmental concerns
and stringent norms have forced automotive manufacturers to control automotive
pollution. One of the most important factors affecting fuel efficiency and
vehicular pollution is the curb weight. Reduction in curb weight drastically
increases fuel efficiency and reduces vehicular pollution.
Application of carbon fiber has
been limited to high performance cars because of high carbon fiber cost.
However, extensive R&D work is being undertaken by several manufacturers to
develop low-cost carbon fiber grade with similar mechanical properties as that
of high-cost variants. This is expected to spur carbon fiber demand in the
automotive industry over the forecast period.
The market is characterized by
the presence of major companies with a minimal difference in their shares,
making each of them capable of gaining market leader position. The degree of
competition is expected to remain high over the next five years.
Browse full research report on Global
Automotive Exterior Materials Market: http://www.grandviewresearch.com/industry-analysis/automotive-exterior-materials-market
Further key Findings from the Study Suggest:
- The global market was valued at USD 10.46 billion in 2016 and is projected to reach USD 19.2 billion by 2025, growing at an estimated CAGR of 7.0% from 2017 to 2025
- Asia Pacific is expected to be the fastest growing region and will probably register a demand of 8.87 million tons by 2025
- Steel holds 36% of the global market and is projected to retain its dominance over the forecast period as well. Although, development of lightweight substitutes for light and electric vehicles remains a major area of growth in this market.
- In terms of application, doors dominate the market with 29% of the market revenue
- Key players operating in the market include Magna International Inc., Toyota Boshoku Corporation, Kirchhoff Automotive GmbH, Trinseo S.A., DURA Automotive Systems, LLC, Plastic Omnium Co., etc.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the automotive exterior
materials market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- Steel
- Aluminum
- Plastics
- Glass composites
- Carbon composites
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- Bumpers
- Fenders
- Doors
- Hoods
- Tailgates
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- North America
- U.S
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- India
- Middle East and Africa
- Central & South America
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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