Press release
What's driving the Automotive Lightweight Materials Market Growth? Aleris, Covestro, Sabic, DuPont, Reliance Industries Limited, BASF, LyondellBasell, Alcoa, Arcelormittal, ThyssenKrupp, LANXESS, Posco, Borealis, Novelis
Meanwhile, the ever-increasing demand for manufacturing of electric vehicles would also likely augment the market share through 2026.
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Along with rising production, increasing requirements to follow fuel emission regulations to enhance efficiency would positively influence the market outlook. In fact, as per the U.S. CAFE (Corporate Average Fuel Economy) rules, automakers need to meet an economy of 54.5 mpg till 2025. In order to follow these norms, vehicle producers are finding alternative powertrains that comply with these fuel emission standards.
Apart from this, performance characteristics of novel lightweight materials are precisely managed and monitored using new simulation techniques which further help decrease the prototyping costs. All these benefits would possibly push automotive lightweight materials market outlook through 2026.
Speaking of the regional landscape, APAC automotive lightweight materials market is predicted to dominate the industry share over the forecast timespan. Japan and China would lead the market share of the region.
Increasing production of electric vehicles in these countries is a major factor responsible for market expansion in the region. In addition, incentive programs and promotional governmental policies are likely to boost electric vehicle demand.
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Apart from increased manufacturing, multimaterial design approaches incorporating advanced composites and plastics is likely to drive the overall market outlook.
All in all, the above-mentioned factors are overtly indicative of a massive range of opportunities for automotive lightweight materials market growth. The competitive landscape of automotive lightweight materials industry is inclusive of players like WHB Brasil, Borealis, Ak Steel Corporation, Aleris Corporation, Sgl Carbon, Posco, LANXESS, Stratasys Ltd., Owens Corning, ThyssenKrupp AG, Arcelormittal, Alcoa Corporation, LyondellBasell, BASF, Toray, and Convestro among others.
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Arun Hegde
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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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