Global Automotive Exterior Materials Market Size Study, by Product (Steel, Aluminum, Plastics, Glass Composites, Carbon Composites, Others), Application, and Regional Forecasts 2022-2032

Description

The global automotive exterior materials market, valued at approximately USD 14.19 billion in 2023, is forecasted to grow at a robust CAGR of 6.40% during the forecast period from 2024 to 2032. The growing demand for lightweight and durable materials in vehicle manufacturing has positioned exterior materials as a pivotal component of the automotive industry. These materials, ranging from traditional steel to advanced composites, enable manufacturers to meet regulatory requirements, enhance performance, and improve fuel efficiency, thereby aligning with industry trends.

The adoption of automotive exterior materials is fueled by stringent emission norms and a heightened focus on vehicle aesthetics and performance. Advanced materials such as aluminum and carbon composites are increasingly preferred due to their superior strength-to-weight ratios, promoting their integration into electric vehicles (EVs) and luxury cars. However, the market faces challenges such as fluctuating raw material prices and high production costs associated with composite materials, which may impact market dynamics in certain regions.

Continuous advancements in material technology, including the incorporation of smart and sustainable solutions, have redefined the automotive sector. Innovations such as 3D-printed composites and recyclable materials are gaining traction, reflecting the industry's pivot toward environmentally responsible practices. Furthermore, the integration of nanotechnology and surface treatments enhances durability, corrosion resistance, and overall material efficiency, fostering market expansion.

North America dominates the automotive exterior materials market, backed by a well-established automotive manufacturing sector and consistent demand for lightweight materials in high-performance vehicles. Europe follows closely, driven by stringent environmental regulations and a significant presence of luxury automakers. Meanwhile, the Asia Pacific region is anticipated to witness the fastest growth, underpinned by rapid urbanization, increasing automobile production, and favorable government initiatives promoting EV adoption.

Major market players included in this report are:

ArcelorMittal
Novelis Inc.
Toray Industries, Inc.
SGL Carbon SE
Thyssenkrupp AG
Owens Corning
Nippon Steel Corporation
Hexcel Corporation
BASF SE
SABIC
LyondellBasell Industries Holdings B.V.
Teijin Limited
Mitsubishi Chemical Corporation
Huntsman Corporation
Cytec Solvay Group

The detailed segments and sub-segments of the market are explained below:

By Product:

Steel
Aluminum
Plastics
Glass Composites
Carbon Composites
Others

By Application:

Passenger Vehicles
Commercial Vehicles

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024 to 2032

Key Takeaways:

Comprehensive market estimates and forecasts for a decade (2022-2032).
Detailed analysis of regional and country-level trends.
Insights into technological advancements and emerging market opportunities.
Profiles of leading companies with in-depth competitive analysis.
Strategic recommendations for stakeholders to capitalize on market growth opportunities.

Chapter 1. Global Automotive Exterior Materials Market Executive Summary

1.1. Global Automotive Exterior Materials Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Product
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Automotive Exterior Materials Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Automotive Exterior Materials Market Dynamics

3.1. Market Drivers
- 3.1.1. Surge in Demand for Lightweight Materials
- 3.1.2. Technological Advancements in Material Science
- 3.1.3. Increasing Focus on Sustainability
3.2. Market Challenges
- 3.2.1. Fluctuating Raw Material Prices
- 3.2.2. High Production Costs of Composite Materials
3.3. Market Opportunities
- 3.3.1. Expansion in Emerging Markets
- 3.3.2. Innovations in Sustainable Materials
- 3.3.3. Strategic Partnerships with Automotive Manufacturers

Chapter 4. Global Automotive Exterior Materials Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Automotive Exterior Materials Market Size & Forecasts by Product 2022-2032

5.1. Segment Dashboard
5.2. Global Automotive Exterior Materials Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Steel
- 5.2.2. Aluminum
- 5.2.3. Plastics
- 5.2.4. Glass Composites
- 5.2.5. Carbon Composites
- 5.2.6. Others

Chapter 6. Global Automotive Exterior Materials Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Automotive Exterior Materials Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Passenger Vehicles
- 6.2.2. Commercial Vehicles

Chapter 7. Global Automotive Exterior Materials Market Size & Forecasts by Region 2022-2032

7.1. North America Automotive Exterior Materials Market
- 7.1.1. U.S. Automotive Exterior Materials Market
  - 7.1.1.1. Product Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Automotive Exterior Materials Market
  - 7.1.2.1. Product Breakdown Size & Forecasts, 2022-2032
  - 7.1.2.2. Application Breakdown Size & Forecasts, 2022-2032
7.2. Europe Automotive Exterior Materials Market
- 7.2.1. UK Automotive Exterior Materials Market
- 7.2.2. Germany Automotive Exterior Materials Market
- 7.2.3. France Automotive Exterior Materials Market
- 7.2.4. Spain Automotive Exterior Materials Market
- 7.2.5. Italy Automotive Exterior Materials Market
- 7.2.6. Rest of Europe Automotive Exterior Materials Market
7.3. Asia-Pacific Automotive Exterior Materials Market
- 7.3.1. China Automotive Exterior Materials Market
- 7.3.2. India Automotive Exterior Materials Market
- 7.3.3. Japan Automotive Exterior Materials Market
- 7.3.4. Australia Automotive Exterior Materials Market
- 7.3.5. South Korea Automotive Exterior Materials Market
- 7.3.6. Rest of Asia Pacific Automotive Exterior Materials Market
7.4. Latin America Automotive Exterior Materials Market
- 7.4.1. Brazil Automotive Exterior Materials Market
- 7.4.2. Mexico Automotive Exterior Materials Market
- 7.4.3. Rest of Latin America Automotive Exterior Materials Market
7.5. Middle East & Africa Automotive Exterior Materials Market
- 7.5.1. Saudi Arabia Automotive Exterior Materials Market
- 7.5.2. South Africa Automotive Exterior Materials Market
- 7.5.3. Rest of Middle East & Africa Automotive Exterior Materials Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. ArcelorMittal
- 8.1.2. Novelis Inc.
- 8.1.3. Toray Industries, Inc.
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. ArcelorMittal
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Novelis Inc.
- 8.3.3. Toray Industries, Inc.
- 8.3.4. SGL Carbon SE
- 8.3.5. Thyssenkrupp AG
- 8.3.6. Owens Corning
- 8.3.7. Nippon Steel Corporation
- 8.3.8. Hexcel Corporation
- 8.3.9. BASF SE
- 8.3.10. SABIC
- 8.3.11. LyondellBasell Industries Holdings B.V.
- 8.3.12. Teijin Limited
- 8.3.13. Mitsubishi Chemical Corporation
- 8.3.14. Huntsman Corporation
- 8.3.15. Cytec Solvay Group

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes