Automotive Exterior Materials Market To Reach $21.91 Billion By 2030

Automotive Exterior Materials Market Growth & Trends

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 fuel efficiency and reduces vehicular pollution.

The application of carbon fiber has been limited to high-performance cars because of the 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.

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Automotive Exterior Materials Market Report Highlights

• The global market was valued at USD 15.06 billion in 2024 and is projected to reach USD 21.91 billion by 2030, growing at an estimated CAGR of 6.4% from 2024 to 2030

• Asia Pacific automotive exterior materials market accounted for the largest revenue share of 52.0% in 2023.

• The steel segment dominated the market and accounted for a revenue share of 34.5% in 2023. Although, the development of lightweight substitutes for light and electric vehicles remains a major area of growth in this market.

• The doors segment accounted for the largest market revenue share in 2023.

• Key players operating in the market include IDEAL Automotive GmbH, Kotobukiya Fronte Co., Ltd., Suminoe Textile Co., Ltd., Magna International Inc., Shanghai Shenda Co., Ltd., BOSHOKU CORPORATION.

Automotive Exterior Materials Market Segmentation

Grand View Research has segmented the global automotive exterior market based on product, application, and region:

Automotive Exterior Materials Product Outlook (Revenue, USD Million, 2018 - 2030)

• Steel

• Aluminum

• Plastics

• Glass Composites

• Carbon Composites

• Others

Automotive Exterior Materials Application Outlook (Revenue, USD Million, 2018 - 2030)

• Bumpers

• Fenders

• Doors

• Hoods

• Tailgates

• Others

Automotive Exterior Materials Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Argentina

  • Brazil

• The Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in Automotive Exterior Materials Market

• HAYAKAWA EASTERN RUBBER CO.,LTD

• IDEAL Automotive GmbH

• Kotobukiya Fronte Co., Ltd.

• SHANDONG EXCEEDING AUTO INTERIOR PARTS CO.,LTD

• Suminoe Textile Co., Ltd.

• HAYASHI TELEMPU CORPORATION

• Magna International Inc.

• Shanghai Shenda Co., Ltd.

• BOSHOKU CORPORATION

• KAP Ltd.