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 report by Grand View
Research :
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
o U.S
·
Europe
o Germany
o UK
o France
·
Asia Pacific
o China
o Japan
o India
·
Middle East and Africa
·
Central & South America
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-automotive-exterior-materials-market
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.
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