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Automotive Lightweighting Market by Material (Metals, Composites, Plastics, Elastomers), Application & Component (Frame, Engine, Exhaust, Transmission, Closure, Interior), Vehicle (ICE, Electric, Micro-mobility & UAVs) and Region - Global Forecast to 2027
Automotive Lightweighting Market
The market would witness growth owing to driving factors such as the increased weight due to the addition of comfort, safety features, and emission control devices to comply with the stringent emission, safety, and fuel consumption regulations globally.
With the increasing need for vehicles with new-age designs and features, conventional manufacturing methods are being replaced with advanced manufacturing technologies. Some of these technologies include additive manufacturing, resin transfer molding, micro injection molding and others. The key advantages for incorporating such advanced manufacturing methods were the ability to manufacture new materials that are relatively light in weight and stronger.
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The increasing trend of electrification in the automotive industry is mainly due to the global demand for sustainable mobility and the increasing emission regulations. Many leading automotive players, such as Volkswagen (Germany), Tesla Motors (US), Ford (US), General Motors(US), Toyota (Japan), and others, have ventured into the electric vehicle segment.
Key Market Players & Start-ups
The automotive lightweighting market is led by globally established players such as BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Germany), Thyssenkrupp AG (Germany), Novelis, Inc. (US), Alcoa Corporation (US), Owens Corning (US), and Stratasys Ltd. (US). These companies adopted expansion strategies and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in the high-growth automotive lightweighting market.
The study categorizes the automotive lightweighting market based on material, application, components, vehicle type, electric & hybrid vehicle type, electric vehicle, by material type, UAV by material type, micro-mobility by material type, and region at regional and global levels.
By Material
• Metal
• Composite
• Plastic
• Elastomer
• Others
By Application
• Body in White
• Chassis and Suspension
• Powertrains
• Closures
• Interiors
• Others
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By Components
• Frames
• Wheels
• Bumpers & Fenders
• Engines & Exhausts
• Transmission
• Doors
• Hood & Trunk Lids
• Seats
• Instrument Panels
• Fuel Tanks
By Vehicle Type
• Passenger Vehicles
• Light Commercial Vehicles
• Trucks
• Buses
Electric & Hybrid Vehicle Typ
• BEV
• PHEV
• FCEV
• Truck
• Bus
Electric Vehicle, by Material Type
• Metal
• Aluminum
• Composites
• Plastic
• Elastomer
UAV, By Material Type
• Aluminum
• Composites
• Plastics
• Others
Micro mobility By Material Type
• Aluminium
• Composites
• Plastics
• Others
By Region
• Asia Pacific,
• Europe,
• North America, and
• Rest of The World
Recent Developments
• In October 2022, Lyondellbasell Industries Holdings B.V. developed a PP compound made up of PP compound material which has reduced the weight of the vehicle by 10kg. It will help in foaming of parts, reducing the density of the material, thin walling of parts, can become a substitute to metal and eliminates the paint for cars.
• In August 2022, Toray Industries, Inc., has launched its 3D printer which can produce automotive parts, power tools and other equipment's which are heat resistance, high strength, and has good precision in designing.
• In May 2022, BASF SE developed the Ultradur® B4335G3 HR for the protection for sensitive electronic devices which are exposed to extreme challenging surroundings. For example, protecting sensors when exposed to different climatic condition, surface contact to water and salt.
• In June 2021, Covestro developed a new composite technology named as "Continuous Fiber-Reinforced Thermoplastic Polymers" (CFRTP) which is light in weight and robust in structure, reducing fuel consumption of the cars, emission gas, and obeys UN goals for developing sustainable material.
• In April 2020, ArcelorMittal has introduced new S-in solution for battery electrical vehicles providing advanced high strength steel for BIW and battery packs which are lightweight, safety, cost, and sustainable.
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Frequently Asked Questions (FAQ):
What is the role of EVs in the automotive lightweighting market?
Who are the winners in the global automotive lightweighting market?
How is the revenue shift in the automotive lightweighting market?
What are the new market opportunities in the automotive lightweighting market?
What are the new advancements in the automotive lightweighting market?
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