Press release
Automotive Lightweight Materials Market is slated to reach a value of about US$ 113.3 Bn between 2020-2027
Automotive Lightweight Materials Market 2022
The global Automotive Lightweight Materials market is slated to touch a value of about US$ 113.3 Bn in the year 2027 and grow at a steady CAGR of 7.2% during the assessment period between 2020-2027.
The prospects of growth of the global Automotive Lightweight Materials Market are positively influenced by the recent increase in the automotive regulatory requirements. Due to the growing menace of rising levels of air pollution, governments all across the world have enacted stringent laws and requirements pertaining to the reduction in the emissions of carbon dioxide from the vehicles.
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A reference can be made of the Kyoto Protocol that commits the countries that have signed this protocol to restrict the emissions of greenhouse gases in the atmosphere. Due to such factors, the automotive manufacturers are increasingly turning to use lightweight materials in the vehicles they manufacture. Such kind of lightweight materials reduce the overall weight of the vehicles, thereby improving the fuel efficiency of such vehicles and cutting the emissions of greenhouse gases. However, the high cost of such lightweight materials is hampering the growth of this market.
Key Companies-
• BASF SE
• ThyssenKrupp AG
• Covestro AG
• ArcelorMittal S.A.
• Lyondellbasell N.V.
• Novelis .Inc
• Toray Industries
• PPG Industries, Inc
• Alcoa Inc.,
• Owens Corning
• Others.
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4 Forecast Highlights on Global Lightweight Automotive Materials Market
• As per the forecast of Persistence Market Research, the HSS additive type segment is slated to touch a value of nearly US$ 10,000 Mn in the year 2022. This represents a moderate CAGR growth during the assessment period of 2017-2022. The HSS additive type segment is estimated to account for more than one-tenth of the revenue share of the additive type segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.
• As per the forecast of Persistence Market Research, the mid-sized passenger cars segment will reach a value of about US$ 12,500 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The mid-sized passenger cars segment is forecasted to account for more than one-fifth of the total revenue share of the vehicle type segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.
• As per the forecast of Persistence Market Research, the body-in white application type segment is slated to reach a value of nearly US$ 18,700 Mn in 2022. The body-in white application type segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the APEJ region in the body-in white application type segment.
• Persistence Market Research forecasts the China lightweight automotive materials market to exhibit a compound annual growth rate (CAGR) of more than 5% from 2017 to 2022.
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Key Questions Answered in Automotive Lightweight Materials Market Report -
• What will the Automotive Lightweight Materials Market growth rate in Future?
• What are the key factors driving the global Automotive Lightweight Materials Market?
• Who are the key manufacturers in Automotive Lightweight Materials Market space?
• What are the opportunities and threats faced by the vendors in the global Automotive Lightweight Materials industry?
• What are sales, revenue, and price analysis by regions of Automotive Lightweight Materials industry?
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