Continuous technological advancements and specific consumer choices are likely to increase the demand for advanced automotive exterior materials. Consumer preference is gradually shifting towards high performance cars offering low emissions and high fuel efficiency. Increasing adoption of lightweight components in cars is likely to achieve high performance levels.
Flax Fiber Components to Offer High Performance Cars
Major product-variants of automotive exterior materials are glass composites, carbon composites, plastics, steel, and aluminum. Steel is anticipated to emerge as the leading segment through 2025. Glass Fiber Reinforced Polymers (GFRP) are likely to have a significant recognition in the automotive industry owing to suitable properties. It offers high ratio of strength and stiffness in comparison to conventional metals. In addition, plastic components can reduce emissions and improve efficiency owing to less weight than metals. Such useful properties are likely to increase the demand for advanced automotive exterior materials. Most manufacturing companies are making impressive investments in R&D activities to innovate products.
For instance, Bcomp and Electric GT have recently signed a partnership and are working together to modify a racing car named Tesla Model S EGT P100D. Companies are planning to replace carbon composite parts with natural fiber panels. The replacement is likely to reduce the weight of the car by 20%— around 500kg. The flax fiber technology is also expected to increase stiffness and damping in the car, which may help in eliminating the risk of shattering in case of car crash. In addition, new car panels are expected to be integrated with LED arrays to display useful information such as race telemetry, biometric feedback from the drivers, and energy levels.
Market Insights
According to a report by Grand View Research, Inc.; the global automotive exterior materials market is anticipated to reach 19.21 billion by 2025. Rigorous fuel economy standards are expected to increase the demand for lightweight cars. Rising preference for new car models with high fuel efficiency and low emissions and is likely to drive the market. In addition, excessive use of lightweight plastic can also propel the market growth in coming years.
Some of the prominent players operating in the market for automotive exterior materials include Plastic Omnium Co., Toyota Boshoku Corporation, and Kirchhoff Automotive GmbH,Trinseo S.A., DURA Automotive Systems, LLC.
Read more at: www.grandviewresearch.com/industry-analysis/automotive-exterior-materials-market
Read more at: www.grandviewresearch.com/industry-analysis/automotive-exterior-materials-market
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