Press release
Automotive Lightweight Material Market Opportunities, Vendors, Market Share, Revenue and Competitors (Arcelor Mittal S.A., Owens Corning, PPG Industries Inc., ThyssenKrupp AG, Toray Industries, Inc., Novelis Inc., Alcoa Inc.) Forecast to 2022
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As high costing of these lightweight materials remains the main barrier, the need of developed technique and change in material use offers solution to some extent. Progressions are being made globally as a result of research work going on and by integration with other industries, such as metallic, polymer, aviation and others for cross-industry learning.
Geographically, the North American market held the largest share in the global automotive lightweight material market in 2015. The major reasons behind the growth of the market in the region include the regulatory pressure by government to reduce CO2 emission, and strict fuel economy majors being adopted throughout North America.
Asia-Pacific is anticipated to be the fastest growing market for automotive lightweight industry. The production volume for passenger car and LCV segment in Asia-Pacific accounted for more than 50% share of the global production.
In August 2012, the U.S. issued new corporate average fuel economy (CAFE) standards for the model year 2017-2025 light-duty vehicles, with the average requirement of 54.5 miles per gallon by 2025.
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The key companies operating in the global automotive lightweight material market include Arcelor Mittal S.A., Owens Corning, PPG Industries Inc., ThyssenKrupp AG, Toray Industries, Inc., Novelis Inc., Alcoa Inc., LyondellBasell Industries N.V., Hexcel Corporation, and Saudi Basic Industries Corporation.
GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIAL MARKET SEGMENTATION
By Material Type
Metal
Aluminium
High Strength Steel (HSS)
Others
Plastic
Composite
By Application
Structural
Powertrain
Interior
Exterior
Others
GEOGRAPHICAL SEGMENTATION
By Region
North America
U.S.
Canada
Rest of N.A.
Europe
The U.K.
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of APAC
Rest of the World
Brazil
Others
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