Press release
Automotive Lightweight Material Market to Witness an Outstanding Growth by 2027 – Lead by Alcoa Corporation, BASF SE, Covestro AG, Grupo Antolin, Lear Corporation, Lyondellbasell Industries Holdings B.V
Automotive Lightweight Material Market to 2027
The lightweight materials are widely utilized in automobiles for reducing their weight and thereby increase their fuel efficiency and speed. These materials are the best suitable alternatives for heavy generic materials for building the frame of vehicles owing to their advantages such as low corrosion rate, enhanced strength, less material consumption, and improved handling. Replacement of traditional steel components with lightweight materials such as aluminum and magnesium alloys, high-strength steel (HSS), and polymer & carbon fiber composites are capable of reducing the vehicle weight and thereby support in decreasing fuel consumption.
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Leading Key Market Players Mentioned in the Report:- Alcoa Corporation, BASF SE, Covestro AG, E. I. du Pont de Nemours and Company (DuPont), Grupo Antolin, Lear Corporation, Lyondellbasell Industries Holdings B.V, Magna International, Novelis, Thyssenkrupp AG.
The reports cover key developments in the Automotive Lightweight Material Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Automotive Lightweight Material Market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Lightweight Material Market in the global market.
The major factors driving the growth of the automotive lightweight material market are stringent rules and regulations in regards to emission and fuel economy and an increase in government initiative towards reduction if vehicle weight. Further, the rising demand for these materials from developing countries and the trend of vehicle electrification are anticipated to offer significant growth opportunities for the automotive lightweight material market in the near future.
The report facilitates in determining and interpreting the key market players, portfolios with necessary information such as company profiles, components and services offered, financial information of past few years, key developments in past few years, that helps in constructing strategies to gain competitive advantage in the long run. The report also analyzes factors affecting Payments Landscape market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend.
The report segments the global Automotive Lightweight Material market as follows:
Global Automotive Lightweight Material Market - By Material
• metals
• composites
• plastics
• elastomer
• others
Global Automotive Lightweight Material Market - By Application
• exterior
• powertrain
• structural
• interiors
• others
Global Automotive Lightweight Material Market - By Vehicle Type
• passenger car
• commercial vehicle
Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the market in these regions.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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