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.
Full
Research Report On Global Automotive Exterior Materials Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/automotive-exterior-materials-market
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:
www.grandviewresearch.com/industry/automotive-and-transportation
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
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-automotive-exterior-materials-market
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.
For More
Information: www.grandviewresearch.com
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