Automotive Exterior Materials Market 2024 Supply-Demand, Production Cost and Share Analysis
Automotive Exterior Materials Industry The global automotive exterior materials market size is estimated to reach USD 21.91 billion by 2030, expanding at a CAGR of 6.4% from 2024 to 2030, 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 a 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...