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Automotive Exterior Material Trends and Forecast

The future of the global automotive exterior material market looks promising with opportunities in the bumper, fender, door, hood, and tailgate markets. The global automotive exterior material market is expected to reach an estimated $20.6 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are rising demand for lightweight vehicles, stricter fuel economy and emissions laws, and growing manufacturing of electric and hybrid vehicles.

• Lucintel forecasts that, within the component category, steel will remain the largest segment over the forecast period due to its advanced technology for maintenance and repairs.
• In terms of regions, APAC will remain the largest region over the forecast period due to rise of the automotive industry increased disposable income, rising population, as well as, increasing need for lightweight, environmentally friendly materials.

Gain valuable insights for your business decisions with our comprehensive 150+ page report.
Automotive Exterior Material Trends and Forecast

Automotive Exterior Material by Segment

Emerging Trends in the Automotive Exterior Material Market

Emerging trends in the automotive exterior material market are shaping its future applications and market dynamics:

• Sustainability and recyclability: The use of recycled materials is increasing through bio-based polymers and recycled composites. This shift is due to pressure from regulations and a consumer push for greener products, resulting in lower environmental impact and enhancing corporate sustainability ratings.
• Advanced composite materials: High strength-to-weight ratio composite materials, including fiberglass and carbon fiber, are being used more often. They are expected to offer better performance and fuel efficiency, primarily in high-end or performance vehicles. The adoption rate is likely to increase due to cost-effective manufacturing processes.
• Smart materials and coatings: Self-healing coatings and embedded sensors that enhance scratch resistance and improve safety features are some recent innovations. As a result, vehicles respond better to drivers’ commands, leading to improved performance.
• Light weighting trends: The need for lighter materials, such as aluminum and advanced polymers, has increased due to fuel efficiency improvement targets and emission reduction concerns among automakers. This is vital considering the growing preference for electric cars, given the EPA’s stringent emissions standards that many passenger car models lack compliance with.

Emerging trends indicate a move towards more sustainable, sophisticated, and functional materials for automotive exteriors. Therefore, with the blending of advanced technological approaches and environmentally sensitive methods, it is expected that this movement will be highly altered.

Emerging Trends in the Automotive Exterior Material Market

Recent Developments in the Automotive Exterior Material Market

Ongoing innovations and advancements in various sectors of the automotive exterior material market have been highlighted by recent developments:

• Integration of advanced composites: Carbon fiber, fiberglass, and other advanced composites are becoming popular in the automotive industry for exterior components. These materials contribute to improved fuel efficiency and vehicle performance due to their high strength-to-weight ratio. Recent advances include improvements in manufacturing processes, which save on costs and enhance material properties.
• Sustainable materials and practices: Many manufacturers are now focusing on sustainability by using recycled or bio-based materials for exterior parts. In material science, development is underway to enable the production of recyclable polymers and eco-friendly coatings that conform to worldwide environmental standards, thereby reducing the overall carbon footprint.
• Smart technologies and sensors: Automotive exteriors continue to embrace smart technologies. This encompasses self-repairing coatings that fill minor scratches and sensors installed in outer body parts, which provide real-time information about car condition and atmospheric parameters, increasing safety and value-added features.
• Light weighting solutions: The utilization of lightweight materials, such as high-strength aluminum alloys and engineered plastics, has reduced vehicle weights in recent times. This is primarily aimed at achieving better mileage per gallon of gas while meeting stringent emission mandates. Recent developments have focused on improving performance characteristics while ensuring cost-effectiveness through the optimization of these materials.

These developments represent efforts by the industry toward innovation, sustainability, and improved product quality related to vehicles’ performance. Continuous progress in both technology and materials demands new standards concerning how cars look from the outside and how they should operate generally.

Strategic Growth Opportunities for Automotive Exterior Material Market

Some key strategic growth opportunities for this market include:

• Growth in electric vehicles (EVs): Electric vehicles present opportunities for advanced materials that are more efficient and high-performing. This helps offset battery weight and improve range, particularly with lightweight materials like composites and aluminum. This trend offers a chance for companies to develop customized solutions for EV manufacturers.
• Increasing demand for customization: Consumers today prefer individualized vehicle exteriors. This trend has created an opportunity for new materials and finishes, such as custom coatings or decorative elements. To capitalize on this, companies can offer a range of personalized options and adopt advanced production techniques.
• Sustainability initiatives: With tightening environmental regulations, sustainable materials that can be recycled are needed. By investing in R&D activities focused on eco-friendly materials and processes, firms can position themselves as market leaders in environmentally friendly automotive solutions worldwide.
• Technological advancements: New avenues are opening through the integration of smart technologies and newer coatings into automotive exteriors. Possibilities exist in the creation of self-healing substances, embedded sensors, and adaptive coatings that improve the performance of vehicles and user experience.

In summary, these strategic growth opportunities indicate how innovation and sustainability have become important issues in the automotive industry. Customization and technology have also found their relevance. Therefore, EVs will form a foundation upon which future marketing expansion strategies may incorporate customization, sustainability, and enhanced technology as the automotive outdoor material market undergoes transformation.

Automotive Exterior Material Market Driver and Challenges

The automotive exterior materials market is a sub-category of the automotive industry that is critical for both vehicle performance and appearance. Several factors propel this market, while some challenges are also faced. Below are well-defined outlines of the key drivers and challenges in this industry:

The factors driving the automotive exterior material market include:

• Regulatory standards: More stringent emissions and safety standards are fueling the demand for advanced materials that enhance efficiency and increase vehicle safety. This forces companies to conform to these standards, necessitating the heavy use of lightweight and high-strength materials.
• Technological advancements: Innovations like smart coatings, advanced composites, and other material sciences have opened up possibilities for better vehicle performance. These technologies enable the development of better exterior components with enhanced functionalities.
• Consumer preferences: An increasing trend of customer demand for attractive, customizable vehicles drives the need for sophisticated exterior materials. To meet diverse consumer tastes, firms have developed innovative designs and finishes.
• Growth of electric vehicles: The demand for lightweight materials that improve battery efficiency and increase vehicle range has risen with the rise in electric car adoption rates. Consequently, there is a growing interest in using materials like aluminum and composites in EV exteriors.

Challenges in the automotive exterior material market include:

• High costs: Products such as carbon fiber and strong composites tend to be expensive to produce, limiting their adoption rate, especially in cost-sensitive sectors.
• Supply chain issues: Any delays or disruptions along the supply chain could affect production timelines and escalate costs. It is important for manufacturers to navigate these difficulties to ensure availability and consistent prices.
• Environmental impact: Despite efforts toward sustainable manufacturing processes, some advanced materials continue to contribute significant ecological drawbacks during production or after disposal. The recyclability aspect and minimal environmental footprint are important considerations.
• Technological integration: Introducing new technologies like smart sensors or self-healing coatings can be demanding in terms of complexity and expenses for manufacturers. However, innovation must be balanced with cost and workability.

In summary, drivers and challenges within the automotive exterior materials market are characterized by a dynamic environment shaped by regulatory pressures, technological advancements, and consumer demands. Understanding these factors is essential for the survival of enterprises during changing economic circumstances.

List of Automotive Exterior Material Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive exterior material companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive exterior material companies profiled in this report include-
• Magna International
• INOAC
• Covestro
• Toyota Boshoku
• Trinseo
• DuPont
• DURA
• KIRCHHOFF Automotive
• Grupo Antolin
• Gestamp Automocin

Automotive Exterior Material by Segment

The study includes a forecast for the global automotive exterior material by component, application, and region.

Automotive Exterior Material Market by Component [Analysis by Value from 2018 to 2030]:


• Steel
• Aluminum
• Plastics
• Glass Composites
• Carbon Composites
• Others

Automotive Exterior Material Market by Application [Analysis by Value from 2018 to 2030]:


• Bumpers
• Fenders
• Doors
• Hoods
• Tailgates
• Others

Automotive Exterior Material Market by Region [Shipment Analysis by Value from 2018 to 2030]:


• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Automotive Exterior Material Market

The automotive exterior material market is witnessing substantial growth globally, driven by increased demand from various industries such as bumpers, fenders, doors, hoods, tailgates, and others. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below are recent developments by major automotive exterior material producers in key regions: the USA, China, Germany, Japan, and India.

• United States: The US automotive exterior material market is turning toward lightweight materials, such as aluminum and composites, to improve fuel efficiency while complying with stringent emissions regulations. There is increasing demand for advanced coating technologies and sustainable materials, reflecting a general move toward green manufacturing practices and technological advancements.
• China: China focuses on incorporating high-strength steel and advanced polymer composites into automobile exteriors to enhance vehicle safety features and performance. There is also great emphasis on local production of these materials aimed at lowering reliance on imports to support the growth of the country’s electric vehicle (EV) industry.
• Germany: In Germany, recycled resources are being integrated into automotive exteriors using smart technologies. This implies that the adoption of advanced coatings has increased in the market. Moreover, sensors are embedded within exterior components, reflecting GermanyÄX%$%Xs commitment to innovation and environmental consciousness in the auto-making sector.
• India: India’s automotive exterior material market has been growing due to increased vehicle production volumes and affordability requirements. Recent trends entail the application of lightweight materials to boost fuel economy, alongside policies advocating for the use of recyclable substances related to environmental conservation.
• Japan: Japan leads in the development of innovative composites and smart materials for automotive exteriors, focusing on durability and functionality. Some of these involve self-healing coatings and integrated sensors, which can improve vehicle performance and safety aspects. All this aligns with Japan’s focus on technology and quality in the car industry at large.


Lucintel Analytics Dashboard

Features of the Global Automotive Exterior Material Market

Market Size Estimates: Automotive exterior material market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automotive exterior material market size by component, application, and region in terms of value ($B).
Regional Analysis: Automotive exterior material market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different component, application, and regions for the automotive exterior material market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automotive exterior material market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

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FAQ

Q1. What is the automotive exterior material market size?
Answer: The global automotive exterior material market is expected to reach an estimated $20.6 billion by 2030.
Q2. What is the growth forecast for automotive exterior material market?
Answer: The global automotive exterior material market is expected to grow with a CAGR of 5.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the automotive exterior material market?
Answer: The major drivers for this market are rising demand for lightweight vehicles, stricter fuel economy and emissions laws, and growing manufacturing of electric and hybrid vehicles.
Q4. What are the major segments for automotive exterior material market?
Answer: The future of the global automotive exterior material market looks promising with opportunities in the bumper, fender, door, hood, and tailgate markets.
Q5. Who are the key automotive exterior material market companies?
Answer: Some of the key automotive exterior material companies are as follows:
• Magna International
• INOAC
• Covestro
• Toyota Boshoku
• Trinseo
• DuPont
• DURA
• KIRCHHOFF Automotive
• Grupo Antolin
• Gestamp Automocin
Q6. Which automotive exterior material market segment will be the largest in future?
Answer: Lucintel forecasts that steel will remain the largest segment over the forecast period due to its advanced technology for maintenance and repairs.
Q7. In automotive exterior material market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to rise of the automotive industry increased disposable income, rising population, as well as, increasing need for lightweight, environmentally friendly materials.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the automotive exterior material market by component (steel, aluminum, plastics, glass composites, carbon composites, and others), application (bumpers, fenders, doors, hoods, tailgates, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to automotive exterior material market, automotive exterior material market size, automotive exterior material market growth, automotive exterior material market analysis, automotive exterior material market report, automotive exterior material market share, automotive exterior material market trends, automotive exterior material market forecast, automotive exterior material companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.

                                                            Table of Contents

            1. Executive Summary

            2. Global Automotive Exterior Material Market : Market Dynamics
                        2.1: Introduction, Background, and Classifications
                        2.2: Supply Chain
                        2.3: Industry Drivers and Challenges

            3. Market Trends and Forecast Analysis from 2018 to 2030
                        3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
                        3.2. Global Automotive Exterior Material Market Trends (2018-2023) and Forecast (2024-2030)
                        3.3: Global Automotive Exterior Material Market by Component
                                    3.3.1: Steel
                                    3.3.2: Aluminum
                                    3.3.3: Plastics
                                    3.3.4: Glass Composites
                                    3.3.5: Carbon Composites
                                    3.3.6: Others
                        3.4: Global Automotive Exterior Material Market by Application
                                    3.4.1: Bumpers
                                    3.4.2: Fenders
                                    3.4.3: Doors
                                    3.4.4: Hoods
                                    3.4.5: Tailgates
                                    3.4.6: Others

            4. Market Trends and Forecast Analysis by Region from 2018 to 2030
                        4.1: Global Automotive Exterior Material Market by Region
                        4.2: North American Automotive Exterior Material Market
                                    4.2.1: North American Market by Component: Steel, Aluminum, Plastics, Glass Composites, Carbon Composites, and Others
                                    4.2.2: North American Market by Application: Bumpers, Fenders, Doors, Hoods, Tailgates, and Others
                        4.3: European Automotive Exterior Material Market
                                    4.3.1: European Market by Component: Steel, Aluminum, Plastics, Glass Composites, Carbon Composites, and Others
                                    4.3.2: European Market by Application: Bumpers, Fenders, Doors, Hoods, Tailgates, and Others
                        4.4: APAC Automotive Exterior Material Market
                                    4.4.1: APAC Market by Component: Steel, Aluminum, Plastics, Glass Composites, Carbon Composites, and Others
                                    4.4.2: APAC Market by Application: Bumpers, Fenders, Doors, Hoods, Tailgates, and Others
                        4.5: ROW Automotive Exterior Material Market
                                    4.5.1: ROW Market by Component: Steel, Aluminum, Plastics, Glass Composites, Carbon Composites, and Others
                                    4.5.2: ROW Market by Application: Bumpers, Fenders, Doors, Hoods, Tailgates, and Others

            5. Competitor Analysis
                        5.1: Product Portfolio Analysis
                        5.2: Operational Integration
                        5.3: Porter’s Five Forces Analysis

            6. Growth Opportunities and Strategic Analysis
                        6.1: Growth Opportunity Analysis
                                    6.1.1: Growth Opportunities for the Global Automotive Exterior Material Market by Component
                                    6.1.2: Growth Opportunities for the Global Automotive Exterior Material Market by Application
                                    6.1.3: Growth Opportunities for the Global Automotive Exterior Material Market by Region
                        6.2: Emerging Trends in the Global Automotive Exterior Material Market
                        6.3: Strategic Analysis
                                    6.3.1: New Product Development
                                    6.3.2: Capacity Expansion of the Global Automotive Exterior Material Market
                                    6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Automotive Exterior Material Market
                                    6.3.4: Certification and Licensing

            7. Company Profiles of Leading Players
                        7.1: Magna International
                        7.2: INOAC
                        7.3: Covestro
                        7.4: Toyota Boshoku
                        7.5: Trinseo
                        7.6: DuPont
                        7.7: DURA 7.8: KIRCHHOFF Automotive                       
7.9: Grupo Antolin                       
7.10: Gestamp Automocin                       


















































































































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