The global advanced automotive materials market size is calculated at USD 85,650 million in 2024 and is predicted to reach around USD 1,66,920 million by 2034, expanding at a CAGR of 6.9% from 2024 to 2034.
The advanced automotive materials market is an integral branch of the automotive industry. This industry deals in the manufacturing and distribution of advanced materials used in automobiles. There are several materials used in this industry including aluminum, steel, carbon fiber, polymer composites, and some others. The growing use of lightweight materials in vehicles for enhancing efficiency has driven the market growth. This market is expected to rise significantly with the growth of the advanced materials industry across the globe.
The rising sales of passenger cars around the world along with technological advancements in the automotive industry have driven the market growth. Also, the growing adoption of engineered plastics in the automotive sector for manufacturing several parts such as engine components, dashboards, door panels, center consoles, headlight housings, a nd some others are playing a major role in shaping the industry in a positive direction. Moreover, the increasing adoption of electric vehicles (EVs) coupled with developments of ADAS in premium cars is projected to drive the growth of the advanced automotive materials market. The rapid adoption of 3D printing technology in the automotive sector along with the rising use of eco-friendly materials in vehicles is expected to create ample growth opportunities for the market players in the upcoming days.
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| Stats ID: | 7220 |
| Format: | Databook |
| Published: | December 2024 |
| Price | US$ 1550 |
Immediate Delivery
| Stats ID: | 7220 |
| Format: | Databook |
| Published: | December 2024 |
| Price | US$ 1550 |
Immediate Delivery
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