The automotive exterior composites market is likely to grow at a healthy rate over the next five years to reach US$ 11,928.1 million in 2024. There are several factors that are bolstering the demand for composites in automotive exterior applications. Some of the major ones are a higher strength-to-weight ratio of composite parts, excellent surface finish, excellent corrosion and abrasion resistance, and durability. The combined effects of the above-mentioned factors render multi-edge benefits to the automakers as these factors not only assist automakers to meet the stringent regulations regarding fuel efficiency enhancements and carbon emission reductions but also provides more durable parts with the benefit for low-maintenance cost. It is anticipated that there would be an incessant replacement of metallic parts with the composite ones, especially in exterior applications, in the foreseen future.
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