Description
According to the report published by Zion Market Research, the global Automotive Lightweight Materials Market size was valued at USD 73.99 Billion in 2022 and is predicted to reach USD 126.55 Billion by the end of 2030. The market is expected to grow with a CAGR of 6.94% during the forecast period. The report analyzes the global Automotive Lightweight Materials Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Automotive Lightweight Materials Market industry.
Global Automotive Lightweight Materials Market: Overview
Advanced materials play an important role in driving the fuel competence of new cars along with a guarantee of high safety and performance. Lightweight cars need less power in acceleration and also add to the efficiency of the vehicle in comparison to heavier cars and gives 6–8% lesser consumption of fuel.
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Global Automotive Lightweight Materials Market: Growth Factors
Rise in the manufacturing of aircraft modules and rise in penetration of lightweight elements to strengthen the requirement for other lightweight materials including enhanced composites boosts the global automotive lightweight materials market development. On the other hand, factors, such as rapid variations in prices of raw material and hefty cost of carbon fiber limit the use in the production of automotive elements. These reasons are anticipated to hinder the global automotive lightweight materials market growth. Moreover, Asia-Pacific is planned to record noteworthy growth in comparison to the global automotive lightweight materials market for Europe and North America. The quantity of lightweight materials employed in automotive is anticipated to elevate, owing to the increment in the requirement for lightweight and fuel-efficient cars all over the world, thus powering the global automotive lightweight materials market growth.
Global Automotive Lightweight Materials Market: Segmentation
On the basis of material type, the global automotive lightweight materials market is classified into HSS, aluminum, engineering plastics, magnesium/titanium, EPDM, high performance, plastics, NR, SBR, GFRP, CFRP, and NFRP.
Based on application, the global automotive lightweight materials market is divided into chassis & suspension, body-in-white, interiors, powertrains and closure, and others.
On the basis of the component, the global automotive lightweight materials market is segmented into wheels, frame, engine and exhaust, bumpers and fenders, hoods and trunk lids, doors, and seat and instrument panel.
Based on vehicle type, the global automotive lightweight materials market is divided into LCV, passenger car, BEV, HCV, PHEV, and HEV.
Global Automotive Lightweight Materials Market: Regional Analysis
The global automotive lightweight materials market in North American is the quickest developing market. The upcoming emission regulations for light-duty cars and CAFÉ fuel standards have made sure that a car manufacture henceforth might need to be much lighter to obey as per these norms, hence boosting the global automotive lightweight materials market. In addition to this, the region is also the dominator in the global automotive lightweight materials market when it comes to light trucks. The U.S. adds up for the bulk of the total requirement for materials of the automotive lightweight in North America. Asia-Pacific is planned as the 2nd quickest area for the market, with a huge requirement from nations such as Japan, China, and India.
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Global Automotive Lightweight Materials Market: Competitive Players
- Henkel Corporation
- ThyssenKrupp AG
- LyondellBasell Industries N.V.
- Owens Corning Corporation
- SGL Group
- Hexcel Corporation
- Mitsubishi Rayon Co. Ltd.
- Nippon Graphite Fiber Corporation
- UC Rusal
- Zoltek Companies Inc.
- Rio Tinto Alcan Inc.
- Aluminium Corporation of China
- Kaiser Aluminium
- China Hongqiao Group Ltd.
- A&S Magnesium Inc
- US Magnesium LLC
are some of the major companies present in the global automotive lightweight materials market.
The Global Automotive Lightweight Materials Market is segmented as follows:
By Material Type
- HSS
- aluminum
- engineering plastics
- magnesium/titanium
- EPDM
- high performance
- plastics
- NR
- SBR
- GFRP
- CFRP
- and NFRP
By Application
- chassis & suspension
- body-in-white
- interiors
- powertrains and closure
- and others
By Component
- wheels
- frame
- engine and exhaust
- bumpers and fenders
- hoods and trunk lids
- doors
- seat and instrument panel
By Vehicle Type
- LCV
- passenger car
- BEV
- HCV
- PHEV
- HEV
Global Automotive Lightweight Materials Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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