Automotive Exterior Materials Market – Global Market Size, Strategic Growth Drivers, Risk Assessment Framework, Regulatory Landscape Review, Competitive Intensity Mapping & Long-Term Industry Outlook to 2030
Overview
The Automotive Exterior Materials Market size was valued at USD 16.24 Billion in 2023 and the total Automotive Exterior Materials revenue is expected to grow at a CAGR of 6.8% from 2024 to 2030, reaching nearly USD 25.74 Billion.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Automotive Exterior Materials Market Dynamics
The report contains a detailed list of factors that will drive and restrain the growth of the Automotive Exterior Materials Market. Steel which is predominantly the material of choice for various exterior components is expected to witness the rise in competition from plastics and carbon composite materials. Manufacturers are focusing on developing new materials to achieve environmental sustainability and to reduce the weight of the vehicle. The automotive industry is continuously focusing on new materials to reduce the overall weight of their products, without affecting the functionality of those products.
A rise in demand for fuel-efficiency, rigorous emission norms by government bodies across the globe, stringent regulations regarding pollution and energy consumption are compelling OEMs to focus on weight reduction. Demand for automotive exterior materials market is likely to rise during the forecast period owing to the factors. In the current years, the environmental concerns have opened the necessity for lighter vehicles for lesser fuel consumption and also for the requirement of recycling. One of the important factors affecting fuel efficiency and vehicular pollution is the curb weight. Reduction in curb weight severely increases fuel efficiency and reduces vehicular pollution.
Automotive exterior materials market is segmented into a product, vehicle type, application, and region. Based on product, steel is the most dominant material among all due to very high strength with good formability, the variety of new design & wide availability, assembling simplicity and attractive cost-benefit ratio for reducing the weight. Aluminium is also gaining popularity among auto manufacturers.
Global Automotive Exterior Materials Market Segment Analysis:
Based on vehicle type, Increase in per capita income, the decrease in bank interest rates, rapid urbanization, and expansion of the automotive industry in developing countries are fuelling the passenger vehicle segment of the market. Similarly, the electric vehicle segment is expected to witness significant growth in the automotive industry.
By application, automotive bumpers and hoods presume major demand among other application concerning the growing demand from end-user markets. Bumpers are made up of fibre composites or engineering thermoplastics. Hood, fenders, doors and tailgates are made up of steel, stainless steel or composite materials.
In terms of region, Asia Pacific is estimated to hold a major share of the global automotive exterior materials market. The Asia Pacific accounts for largest share contribution of the target market, followed by markets in Europe, North America. Increase in disposable income along with the growing luxury car demand in the region is anticipated to propel market growth over the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Automotive Exterior Materials Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Market dynamics, structure by analyzing the market segments and project the Global Automotive Exterior Materials Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Market make the report investor’s guide.
Global Automotive Exterior Materials Market, Key Highlights:
Global Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Market
Global Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Global Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
Global Automotive Exterior Materials Market Scope: Inquire before buying
| Automotive Exterior Materials Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | US $ 16.24 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 6.8% | Market Size in 2030: | US $ 25.74 Bn. |
| Segments Covered: | by Product | Steel Aluminium Plastics Glass Composites Carbon Composites |
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| by Vehicle Type | Passenger vehicle Commercial vehicle |
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| by Application | Bumpers Fenders Doors Hoods Tailgates Others |
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Global Automotive Exterior Materials Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Global Automotive Exterior Materials Market, Key Players are
1. Magna International
2. INOAC
3. Covestro
4.Toyota Boshoku Corporation
5. Trinseo
6. DuPont
7. DURA
8. KIRCHHOFF Automotive GmbH
9. Grupo Antolin
10. Gestamp Automocin
11. Plastic Omnium Co.
12. Toyoda Gosei Co., Ltd.
13. Flex-N-Gate Corporation
14. Suzuki
15. Honda
16. Nissan
17. Mazda
18. Mitsubishi
19. Dongfeng
20. Changan
21. Geely
22. Tata
23. Mahindra and Mahindra
24. Hyundai
Frequently Asked Questions:
1. Which region has the largest share in Global Market?
Ans: Asia Pacific region holds the highest share in 2023.
2. What is the growth rate of Global Automotive Exterior Materials Market?
Ans: The Global Automotive Exterior Materials Market is growing at a CAGR of 6.8% during forecasting period 2024-2030.
3. What is scope of the Global Automotive Exterior Materials market report?
Ans: Global Automotive Exterior Materials Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Automotive Exterior Materials market?
Ans: The important key players in the Global Automotive Exterior Materials Market are – Magna International, INOAC, Covestro, Toyota Boshoku Corporation, Trinseo, DuPont, DURA, KIRCHHOFF Automotive GmbH, Grupo Antolin, Gestamp Automocin, Plastic Omnium Co., Toyoda Gosei Co., Ltd., Flex-N-Gate Corporation, Suzuki, Honda, Nissan, Mazda, Mitsubishi, Dongfeng, Changan, Geely, Tata, Mahindra and Mahindra, and Hyundai.
5. What was the Global Automotive Exterior Materials Market size in 2023??
Ans: The Global Automotive Exterior Materials Market size was USD 16.24 Billion in 2023.