Press release
Automotive Lightweight Materials Market 2022: Industry Drivers, Segments, Regions and Forecast by 2027
Automotive Lightweight Materials Market
Automotive lightweight materials are primarily utilized for replacing conventional steel and cast iron components in different types of vehicles, such as plug-in, electric, hybrid, etc. They are used in structural elements that enable vehicles to carry advanced safety devices, emission control systems, and integrated electronic systems. Automotive lightweight materials offset the weight of the automobile's power systems, including electric motors and batteries, while enhancing the efficiency and all-electric range. Some commonly used materials include polymer composites, carbon fiber, magnesium alloys, high-strength steel, aluminum alloys, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Automotive Lightweight Materials Market Trends:
With rising environmental concerns, automotive companies are developing lighter and functional materials that increase fuel and vehicle efficiency, thereby improving the fuel economy. This, along with escalating fuel prices, are currently driving the automotive lightweight materials market. Additionally, government bodies of various nations are implementing stringent environmental regulations and introducing vehicle weight reduction plans to control carbon emissions, which are further bolstering the product demand. Moreover, rising investments in R&D activities in the automotive sector to lower the cost and increase the recyclability will continue to augment the automotive lightweight materials market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
• BASF SE
• Magna International
• Toray Industries
• Covestro AG
• ArcelorMittal
• thyssenkrupp AG
• Alcoa Corporation
• Bayer AG
• Saudi Arabia Basic Industries Corporation (SABIC)
• PPG Industries
• LyondellBasell
• Novelis
• Owens Corning Corporation
• Grupo Antolin
Automotive Lightweight Materials Market Segmentation:
Our report has categorized the market based on region, material type, technology type, component, application and vehicle type.
Market Breakup by Material Type:
• Metal
• High Strength Steel (HSS)
• Aluminum
• Magnesium & Titanium
• Composite
• Carbon Fiber Reinforced Polymer (CFPR)
• Glass Fiber Reinforced Polymer (GFRP)
• Natural Fiber Reinforced Polymer (NFRP)
• Other Composites
• Plastic
• Elastomer
Market Breakup by Technology Type:
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-In Hybrid Electric Vehicle
• Others
Market Breakup by Component:
• Frame
• Wheel
• Bumper
• Door and Seat
• Instrument Panel
• Others
Market Breakup by Application:
• Structural
• Interior
• Exterior
• Powertrain
• Others
Market Breakup by Vehicle Type:
• Passenger Vehicle
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
Market Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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