Press release
Automotive Lightweight Material Market Research Analysis by Alcoa, Toray Industries, ArcelorMittal S.A, ThyssenKrupp, BASF , PPG Industries, Covestro, Owens Corning, Lyondellbasell N.V.
Automotive Lightweight Material Market
Automotive lightweight materials are used in the making automobiles to reducing the weight and thus to increase the speed and fuel efficiency of a vehicle. These lightweight materials help to control fuel consumption as well as carbon footprint and thus save the environmental impact, in turn. Moreover, these lightweight materials also allow designers to implement innovative and sturdy designs.
Resultantly, these materials witness a vast uptake and demand in automotive manufacturing, which drives its market of these materials, predominantly. Increased fuel efficiency achieved by the use of lightweight materials is a key driving force escalating the market, globally.
Considering the exponential accruals, the market is garnering currently, Market Research Future (MRFR) in its recently published study analysis asserts that the global automotive lightweight material market is poised to witness significant growth by 2022, registering a considerable CAGR throughout the forecast period (2016 to 2022).
Improving economic conditions, worldwide that are enhancing consumers’ purchasing power is impacting the growth of the market, increasing sales in the automotive market. Additionally, factors such as the stringent government regulations pertaining to the vehicular emissions are increasing the size of the market by encouraging automotive companies to switch their preferences from lightweight materials.
On the other hand, these lightweight materials are slightly expensive and hence are produced in lower volume, which limits the growth of its market, restricting its applications to low-volume. Also, fluctuating prices alongside the demand and supply gap in the raw materials required for the production obstructs the growth of the automotive lightweight material market. However, factors such as the continually augmenting demand for composites that can control the emission and weight a vehicle and the high demand for improved vehicular designs are expected to support market growth over the assessment period. Besides, technological advancements expected to be transpired soon are likely to present economical manufacturing processes reducing the selling cost of these lightweight materials.
Get Free Sample of “Automotive Lightweight Material Market” at: https://www.marketresearchfuture.com/sample_request/2645
Automotive Lightweight Material Market - Segments
The report is segmented into four key dynamics: -
By Material : Metal, Rubber, and Plastic, among others.
By Application : Interior, Exterior, and Structural, among others.
By Vehicle Type : Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Vehicles, among others.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Automotive Lightweight Material Market - Regional Analysis
The Asia Pacific region, led by the presence of a burgeoning automotive industry, is expected to retain its dominance over the automotive lightweight material market throughout the forecast period. Factors that would substantiate the growth of the regional market include massive consumption of these composites in the region.
Moreover, a well-spread awareness towards the benefits of lightweight materials in controlling the automobile emissions provides impetus to market growth in the region. Rapidly evolving economies such as Japan, China, and India backed by their well-established automotive sectors, account for significant contributors to the growth of the automotive lightweight material market in the APAC region.
The automotive lightweight material market in the European region accounts for the second-largest market, globally. The robust automotive industry in the region is witnessing a steady rise in the demand for the lightweight automotive component. Also, the automotive industry in major countries such as Germany, the U.K., France, and Italy is increasingly consuming these lightweight material components for manufacturing a number of under-hood parts.
North America automotive lightweight material market is rapidly emerging as a profitable market, globally. Factors such as the growing demand for lightweight material for the manufacturing of aftermarket products of interiors as well as exterior body are some of the significant driving forces behind the growth of the market in the region. The US, with the presence of a burgeoning automotive industry, accounts for a major contributor to the growth of the market.
On the other hand, the automotive lightweight material market in the Middle East & African (MEA) region is led by an increase in the automotive sector. The UAE, Saudi Arabia, and Qatar are some of the GCC countries driving the automotive lightweight material market in the region.
Brazil and the Latin American region is gaining tremendous momentum. Moreover, various automotive parts manufacturing sectors including under bonnet, interiors body, outer body, and electrical components that are expected to witness substantial growth during the review period would foster the growth of the market in the region.
Automotive Lightweight Material Market - Competitive Analysis
Highly competitive, the automotive lightweight material market appears to be fragmented with the presence of a large number of key players. These players make substantial investments to incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch, to maintain their positions in the market.
Major Players:
The key players of leading the global automotive lightweight material market include Toray Industries Inc. (Japan), Alcoa Inc. (the US), ArcelorMittal SA (Luxembourg), BASF SE (Germany), ThyssenKrupp AG (Germany), PPG Industries, Inc. (the US), Owens Corning (the US), Covestro AG (Germany), Lyondellbasell N.V.USS.), and Novelis Inc. (the US), among others.
Industry/innovation/Related News:
May 21, 2019 --- BASF SE (Germany), a leading chemical producer in the world announced its plans to build a thermoplastic polyurethane (TPU) plant and an engineering plastics compounding plant at its proposed integrated chemical production site in Zhanjiang, China. These will not only be the first production plants to come on stream at the site but also the largest Asian factory in southern China’s Guangdong province.
BASF mentioned that its solutions support the growth of the TPU market, with safety-enhanced cables and wires for automation and automotive lightweight materials. Expected to complete by 2022, the new engineering plastics compounding plant will supply an additional capacity of 60,000 m.t./yr. of BASF engineering plastics compounds in China.
As part of the company’s plan to implement a comprehensive smart manufacturing concept at the site based on cutting- edge technologies, the new plants will utilize automated packaging, high-tech control systems, and automated guided vehicles.
Get Full Report Details of “Automotive Lightweight Material Market” at: https://www.marketresearchfuture.com/reports/automotive-lightweight-material-market-2645
Continued…….
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
CONTACT US:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
sales@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Lightweight Material Market Research Analysis by Alcoa, Toray Industries, ArcelorMittal S.A, ThyssenKrupp, BASF , PPG Industries, Covestro, Owens Corning, Lyondellbasell N.V. here
News-ID: 1815740 • Views: …
More Releases from Market Research Future
Ophthalmic Topical Therapeutics Market | Global Market Analysis Report - 2035
Ophthalmic Topical Therapeutics: Advancing Eye Care Through Targeted Treatment
Ophthalmic topical therapeutics have become a cornerstone in modern eye care, offering precise, localized treatment for a wide range of ocular conditions. Unlike systemic medications, which circulate throughout the body and may produce unintended side effects, topical therapies deliver active compounds directly to the eye, ensuring higher efficacy and a faster onset of action. This localized approach not only improves treatment outcomes…
Mental Health Apps Market Share, Size, Growth and Forecast to 2035
Mental Health Apps: Transforming the Way We Care for Our Minds
In recent years, mental health has gained increasing recognition as an essential component of overall well-being. Despite growing awareness, many individuals still face barriers to accessing mental health support, including stigma, cost, and geographic limitations. Mental health apps have emerged as a transformative solution, leveraging technology to provide accessible, personalized, and convenient mental health care for millions worldwide.
The Rise of…
Surgical Gloves Market Size, Share, Growth | CAGR of 4.95%
Surgical Gloves: A Critical Component of Modern Healthcare
Surgical gloves have become an indispensable element in modern healthcare, serving as a first line of defense against contamination, infection, and disease transmission. These gloves are not just protective gear-they are a symbol of safety, hygiene, and precision in medical practice. Their significance spans from routine hospital procedures to complex surgical interventions, highlighting their essential role in patient care and medical safety protocols.
The…
Asia Pacific CRO Market Size, Share & Growth Report by 2035
Asia Pacific CRO Market: Driving Innovation and Transformation in the Clinical Research Landscape
The Asia Pacific Contract Research Organization (CRO) market has been witnessing significant growth over the past decade, emerging as a pivotal hub for clinical research and drug development. With a growing population, increasing prevalence of chronic diseases, and rising investments in healthcare infrastructure, the region has become an attractive destination for pharmaceutical and biotechnology companies seeking cost-effective and…
More Releases for Automotive
Automotive Grommet Market set for explosive growth: Cooper Standard Automotive, …
According to HTF MI, "Global Automotive Grommet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Automotive Grommet Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.96% from 2024 to 2030, reaching USD 100 Billion in 2024 and USD 150 Billion by 2030.
Automotive grommets are protective rings or eyelets made from rubber or plastic, used to protect or cover holes in metal…
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Global Automotive Safety Market 2019 Worldwide Outlook By Autoliv, Delphi Automo …
Automotive safety systems are designed to comply with the standards and regulations prescribed by government agencies and transport authorities worldwide. Passive safety systems are designed to protect passengers, drivers, and pedestrians during an accident.
In terms of region, the global Automotive Passive Safety Systems market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global…
Global Oil Pump for Automotive Market 2018 Analysis -Bosch,Denso,Aisin Seiki,Del …
According to this study, over the next five years the Oil Pump for Automotive market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2023, from US$ xx million in 2017. In particular, this report presents the global market share (sales and revenue) of key companies in Oil Pump for Automotive business.
Get Sample Copy of this Report for more Information…
Global Automotive Body Welded Assembly Market 2018 - Daesan, Baylis Automotive, …
Accord Market, recently published a detailed market research study focused on the “Automotive Body Welded Assembly Market” across the global, regional and country level. The report provides 360° analysis of “Automotive Body Welded Assembly Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of…
